DocumentCode :
75705
Title :
Development of energy and reserve pre-dispatch and re-dispatch models for real-time price risk and reliability assessment
Author :
Yi Ding ; Min Xie ; Qiuwei Wu ; Østergaard, Jacob
Author_Institution :
Dept. of Electr. Eng., Tech. Univ. of Denmark, Lyngby, Denmark
Volume :
8
Issue :
7
fYear :
2014
fDate :
7 2014
Firstpage :
1338
Lastpage :
1345
Abstract :
In the future, energy framework of European Union and other countries, renewable energy plays an important role tackling the problems of the climate change and security of energy supply. The high penetration of renewable energy sources will increase the burden of system operator for maintaining system reliabilities. However, the current strategy of reliability management developed for conventional power systems and existing electricity market design may not cope with the future challenges the power system faces. The development of smart grid will enable power system scheduling and the electricity market to operate in a shorter time horizon for better integrating renewable energy sources into power systems. This study presents an electricity market scheme including a multi-period energy and reserve pre-dispatch model and an energy re-dispatch model for real time operation, respectively. The multi-period energy and reserve pre-dispatch model is formulated using the multi-period optimal power flow technique. During the real time operation, the energy re-dispatch model is used for contingency management and providing balancing services. The proposed market scheme coupled with a contingency analysis methodology has been used to evaluate both real-time electricity price risk and short term reliabilities during the operational hour in the new environment.
Keywords :
load flow; power generation dispatch; power generation reliability; power generation scheduling; power markets; pricing; renewable energy sources; smart power grids; European Union; climate change; contingency analysis methodology; contingency management; day-ahead market; electricity market design; energy development; energy supply security; ex-ante electricity prices; generation re-dispatch; load curtailment; modified IEEE-RTS; multiperiod energy model; multiperiod optimal power flow technique; power system scheduling; real-time electricity price risk; real-time electricity prices; reliability assessment; reliability management; renewable energy; renewable energy sources; renewable power production; reserve predispatch models; reserve redispatch models; short term reliabilities; single-period AC OPF model; smart grid development; system reliabilities;
fLanguage :
English
Journal_Title :
Generation, Transmission & Distribution, IET
Publisher :
iet
ISSN :
1751-8687
Type :
jour
DOI :
10.1049/iet-gtd.2013.0822
Filename :
6846415
Link To Document :
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