Design of Frequency Regulation Service Market Based on Price and Demand Elasticity Bids
نویسندگان
چکیده
-In this paper, an attempt has been made to establish a market mechanism for primary and secondary frequency regulation services in the restructured power system environment. The concept of elasticity of offer price and elasticity of offer quantity has been proposed. Such a design of offer structure helps the providers to respond to the system requirements based on the market price variations in real-time. Optimization models are proposed for auctions that incorporate service provider maximum regulation constraints and Independent System Operator (ISO) requirements for total regulation while minimizing the total procurement cost of the ISO. The selected service providers in each area receive a uniform market price and regulation services are activated by frequency deviation linkedor Area Control Error (ACE) linked-price signals. The dynamic performances of the “elasticity” based services are analyzed through the simulation of a two-step load perturbation to examine their regulation capabilities.
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