DocumentCode :
3861723
Title :
Reserve markets for power systems reliability
Author :
E.H. Allen;M.D. Ilic
Author_Institution :
MIT, Cambridge, MA, USA
Volume :
15
Issue :
1
fYear :
2000
Firstpage :
228
Lastpage :
233
Abstract :
This paper defines a price-based decision making process for participating in a reserve market for power systems reliability. Reserve power is a fundamentally different commodity from spot market power. It is suggested that depending on the payment mechanism in place, two different types of formulae would be used by power producers and users when participating in such markets. The paper points out that despite the imminent trend to create reserve markets, several fundamental questions concerning reliable operation must be studied.
Keywords :
"Power system reliability","Power generation","Costs","Decision making","Contracts","Stochastic processes","Power transmission lines","Maintenance","ISO","Spinning"
Journal_Title :
IEEE Transactions on Power Systems
Publisher :
ieee
ISSN :
0885-8950
Type :
jour
DOI :
10.1109/59.852126
Filename :
852126
Link To Document :
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