Pricing inertia and Frequency Response with diverse dynamics in a Mixed-Integer Second-Order Cone Programming formulation
Abstract
Low levels of system inertia in power grids with significant penetration of non-synchronous Renewable Energy Sources (RES) have increased the risk of frequency instability. The provision of a certain type of ancillary services such as inertia and Frequency Response (FR) is needed at all times, to maintain system frequency within secure limits if the loss of a large power infeed were to occur. In this paper we propose a frequency-secured optimisation framework for the procurement of inertia and FR with diverse dynamics, which enables to apply a marginal-pricing scheme for these services. This pricing scheme, deduced from a Mixed-Integer Second-Order Cone Program (MISOCP) formulation that represents frequency-security constraints, allows for the first time to appropriately value multi-speed FR.
Keywords
Cite
@article{arxiv.1909.06671,
title = {Pricing inertia and Frequency Response with diverse dynamics in a Mixed-Integer Second-Order Cone Programming formulation},
author = {Luis Badesa and Fei Teng and Goran Strbac},
journal= {arXiv preprint arXiv:1909.06671},
year = {2021}
}