Strategic bidding in joint energy and spinning reserve markets is a challenging task from the viewpoint of Generation Companies (GenCos). In this paper, the interaction between energy and spinning reserve markets is modeled considering a joint probability density function for the prices of these markets. Considering pay-as-bid pricing mechanism, the bidding problem is formulated and solved as a...

In a deregulated electricity market such as the California WEPEX, spinning reserves must be explicitly identified as an ancillary service and priced. Additionally, scheduling coordinators who match suppliers and demands may either self-provide spinning reserves, or rely on the Independent System Operator (ISO) to provide reserves at the spot price. The deregulated market structure makes explici...

In a deregulated electricity market such as the California WEPEX, spinning reserves must be explicitly identified as an ancillary service and priced. Additionally, scheduling coordinators who match suppliers and demands may either self-provide spinning reserves, or rely on the Independent System Operator (ISO) to provide reserves at the spot price. The deregulated market structure makes explici...

Operating reserve assessment has become increasingly important in the new utility environment in which ancillary services have been assigned a value and purchased in a competitive market. This paper first presents a procedure for compulsory provision of spinning reserve using a risk-constrained cost-based mechanism and then proposes a competitive market structure for spinning reserve procuremen...

From the optimization point of view, an optimum solution of the unit commitment problem with reliability constraints can be achieved when all constraints are simultaneously satisfied rather than sequentially or separately satisfying them. Therefore, the reliability constraints need to be appropriately formulated in terms of the conventional unit commitment variables. In this paper, the reli...

In an electric power system, spinning reserve requirements can be determined by using deterministic and/or probabilistic measures. Although deterministic methods are usual in many systems, application of probabilistic methods becomes increasingly important in the new environment of the electric power utility industry. This is because of the increased uncertainty associated with competition. In ...

In this article using comparative multi-purpose algorithm of PSO, optimum capacity of new resources and their spinning storage is defined. Spinning reserve requirements and optimized to maximize profit per unit is determined according to uncertainty. In fact by increasing the level of cost reservation, power supply increases but penalty of blackout decreases. In this paper in has been tried to ...