A rapidly changing electricity sector requires adjusted and new ancillary services, which enable the secure reliable operation of system. However, assessments policy advice regarding services market design lack methods to evaluate complex interaction markets services. Therefore, this paper contributes an open-source agent-based model test options for markets. The Ancillary Services Acquisition ...

This paper addresses two issues that concern the electricity market participants under European day-ahead (DAM) framework, namely feasibility of attained schedules and non-confiscation cleared volumes. To address first issue, new resource-specific orders, i.e., thermal orders for generating units, demand response load responsive resources, energy limited storage are proposed incorporated in exi...

0957-4174/$ see front matter 2011 Elsevier Ltd. A doi:10.1016/j.eswa.2011.05.015 ⇑ Corresponding author. Tel.: +98 21 88021067; fax E-mail addresses: [email protected], [email protected] This paper presents a new approach for bidding strategy in a day-ahead market from the viewpoint of a generation company (GENCO) in order to maximize its own profit as a participant in the market. It is assumed tha...

A new formulation of the optimization problem implementing European market rules for non-convex day-ahead electricity markets is presented, that avoids the use of complementarity constraints to express market equilibrium conditions, and also avoids the introduction of auxiliary binary variables to linearise these constraints. Instead, we rely on strong duality theory for linear or convex quadra...

Wind Power Producers (WPPs) seek to maximize profit and minimize the imbalance costs when bidding into the day-ahead market, but uncertainties in the hourly available wind and forecasting errors make the bidding risky. This paper assumes that hourly wind power output given by the forecast follows a normal distribution, and proposes three different bidding strategies, i.e., the expected profit-m...

Abstract— We 1 address the extension of spatiotemporal marginal-cost-based Wholesale Transmission markets to Retail Distribution markets. Key challenges include (i) a broader range of significant cost components and requirements such as real and reactive power marginal losses, transformer life degradation, and voltage control, (ii) higher order of magnitude of retail market participants, some w...

This thesis addresses two main issues: first, forecasting short-term electricity market prices; and second, the application of short-term electricity market price forecasts to operation planning of demand-side Bulk Electricity Market Customers (BEMCs). The Ontario electricity market is selected as the primary case market and its structure is studied in detail. A set of explanatory variable cand...

Large-scale wind power integration brings great challenges to system operation. The use of large-scale in the electricity market has become a concern for many researchers. Demand response (DR) and energy storage systems (ESSs) play crucial roles consumption power. In this paper, detailed DR model is established, including price-based demand (PBDR) incentive-based (IBDR). IBDR contains load shif...