Title :
Energy and reserve dispatch in the integrated electricity market with sectional price offers
Author :
Lin, Yufeng ; Zhong, Jin
Author_Institution :
Dept. of Electr. & Electron. Eng., Univ. of Hong Kong, Hong Kong
Abstract :
In this paper, we propose an integrated energy and reserve market. Two models for dispatching the energy and the reserve simultaneously with sectional offering prices are presented. The objective function of the first model is to minimize the payment, while the other model minimizes the cost. The uniform energy market price and the uniform reserve price are obtained. The dispatch models are formulated as a mixed integer non-linear programming (MINLP) optimization problem. The IEEE-30 bus system is used for the case study. The uniform prices of energy and spinning reserve are obtained and compared for the two models.
Keywords :
integer programming; nonlinear programming; power markets; pricing; IEEE-30 bus system; energy dispatch models; integrated electricity market; integrated energy market; integrated reserve market; mixed integer non-linear programming optimization problem; reserve dispatch models; sectional price offers; uniform energy market price; uniform reserve price; Admittance; Cost function; Dispatching; Electricity supply industry; Maintenance; Power generation; Power system security; Reactive power; Spinning; Voltage; Energy market; integrated electricity market; reserve market; sectional offering price; uniform price;
Conference_Titel :
Transmission and Distribution Conference and Exposition, 2008. T&D. IEEE/PES
Conference_Location :
Chicago, IL
Print_ISBN :
978-1-4244-1903-6
Electronic_ISBN :
978-1-4244-1904-3
DOI :
10.1109/TDC.2008.4517156
