A Scenario-oriented Approach for Energy-Reserve Joint Procurement and Pricing
Systems and Control
2020-11-23 v3 Systems and Control
Abstract
We propose a scenario-oriented approach for energy-reserve joint procurement and pricing for electricity market. In this model, without the empirical reserve requirements, reserve is procured according to all possible contingencies and load/renewable generation fluctuations with the minimum expected system total cost. The innovative locational marginal pricing approach for loads, generations and reserve and the associated settlement process are proposed. We show that payments from loads, payments to generators and congestion rent will reach their balance in the basecase as well as in all scenarios, so that revenue adequacy can be guaranteed for the system operator.
Keywords
Cite
@article{arxiv.2011.04933,
title = {A Scenario-oriented Approach for Energy-Reserve Joint Procurement and Pricing},
author = {Jiantao Shi and Ye Guo and Lang Tong and Wenchuan Wu and Hongbin Sun},
journal= {arXiv preprint arXiv:2011.04933},
year = {2020}
}