A lost opportunity cost model for energy and reserve co-optimization

Proceedings of the IEEE Power Engineering Society Transmission and Distribution Conference

Volumn 3, Issue SUMMER, 2002, Pages 1559-1564

  Gan, Deqiang ^a   Litvinov, Eugene ^a  

^a ISO New England   (United States)

Author keywords

Electricity Market; Marginal Pricing; Optimization; Power Systems; Spinning Reserve

Indexed keywords

ALGORITHMS; COSTS; ELECTRIC POWER SYSTEMS; OPTIMIZATION;

ELECTRICITY MARKET;

ELECTRIC INDUSTRY;

EID: 0038338514     PISSN: None     EISSN: None     Source Type: Conference Proceeding    
DOI: None     Document Type: Conference Paper

References (23)

1. H. Singh, S. Hao, A. Papalexopoulos, "Transmission Congestion Management in Competitive Electricity Markets", IEEE Trans. On Power Systems, vol. 13, no. 2, May 1998, pp. 672-680
2. F. F. Wu, P. Varaiya, "Coordinated Multilateral Trades for Electric Power Networks: Theory and Implementation", International Journal of Electrical Power & Energy Systems, vol. 21, no. 2, 1999
3. K. W. Cheung, P. Shamsollahi, D. Sun, J. Milligan, M. Potishnak, "Energy and Ancillary Service Dispatch for the Interim ISO New England Electricity Market", IEEE Trans. on Power Systems, vol. 15, no. 3, August 2000, pp. 968-974.
4. D. Gan, Q. Chen, "Locational Marginal Pricing: New England Prospective", presentation summary for Panel Session "Flow-gate and Location Based Pricing Approaches and Their Impacts", in Proceedings of IEEE PES Winter Meeting, Columbus, Ohio, USA, January 2001.
5. M. C. Caramanis, R. E. Bohn, F. C. Schweppe, "Optimal Spot Pricing: Practice and Theory", IEEE Trans. On Power Apparatus and Systems, vol. 101.no. 9, 1982
6. M. L. Baughman, S. N. Siddiqi, "Real Time Pricing of Reactive Power: Theory and Case Study Results", IEEE Transactions on Power Systems, vol. 6, no. 1, 1991, pp. 23-29
7. W. W. Hogan, "Contract Networks for Electric Power Transmission", Journal of Regulator Economics, vol. 4, 1992, pp. 211-242
8. D. Chattopadhyay, B. B. Chakrabarti, E. G. Read, "Pricing For Voltage Stability", in Proceedings of PICA, Melbourne, Australia, May 2001
9. E. H. Allen, M. D. Ilic, "Reserve Markets for Power Systems Reliability", IEEE Trans, on Power Systems, vol. 15, no. 1, 2000, pp. 228-233
10. H. Singh, A. Papalexopoulos, "Competitive Procurement of Ancillary Services by an Independent System Operator", IEEE Trans. On Power System, vol. 14, no. 2, 1999, pp. 498-504
11. M. Flynn, W. P. Sheridan, J. D. Dillon, M. J. O'Malley, "Reliability and Reserve in Competitive Electricity Market Scheduling", IEEE Trans. on Power Systems, vol. 16, no. 1, 2001, pp 78 -87.
12. X. Ma, D. Sun, K. Cheung, "Energy and Reserve Dispatch in a Multi-zone Electricity Market", IEEE Transactions on Power Systems, vol. 14, no. 3, 1999, pp. 913-919
13. D. Gan, D. V. Bourcier, "Locational Market Power Screen and Congestion Management: Experience and Suggestions", IEEE Trans. on Power Systems, accepted for publication
14. R. J. Green, "Competition in Generation: The Economic Foundations", Proceedings of the IEEE, vol. 88, no. 2, February 2000, pp. 128-139
15. R. Zimmerman, R. Thomas, D. Gan, C. Murillo-Sanchez, "A Web-Based Platform for Experimental Investigation of Electric Power Auctions", Decision Support Systems, vol. 24, no. 3&4, January 1999, pp.193-205
16. M. S. Bazaraa, H. D. Sherali, C. M. Shetty, Nonlinear Programming Theory and Algorithms, John Wiley & Sons, Second Edition, 1993
17. S. Hao, D. Shirmohammadi, "Clearing Prices Computation for Integrated Generation, Reserve and Transmission Markets", in Proceedings of PICA, Sydney, Australia, May 2001
18. M. Aganagic, K. H. Abdul-Rahman, J. G. Weight, "Spot Pricing of Capacities for Generation and Transmission of Reserve in An Extended Poolco Model", IEEE Trans. On Power Syystems, vol. 13, no. 3, Augus 1998, pp. 1128-1134
19. J. F. Bard, Practical Bilevel Optimization - Algorithms and Applications, Kluwer Academic Publishers, Dordrecht, The Netherlands, 1998
20. P. R. Gribik, G. A. Angelidis, R. R. Kovas, "Transmission Access and Pricing with Multiple Separate Energy Forward Markets", IEEE Trans.On Power Systems, vol. 14, no. 3, 1999, pp. 865-876
21. A. Jayantilal, K. W. Cheung, P. Shamsollahi, F. S. Bresler, "Market Based Regulation for the PJM Electricity Market", In Proceedings of PICA, Sydney, Australia, May 2001
22. N. S. Rau, "Optimal Dispatch of a System Based on Offers and Bids - A Mixed Integer LP Formulation", IEEE Transactions on Power Systems, vol. 14, no. 1, 1999, pp. 274-279
23. PJM Interconnection, L.L.C, "Spinning Reserve Market Business Rules", July 16, 2001 [Online], Available: http://www.pjm.com