The increasing penetration of variable energy resources in modern electric power systems requires additional flexibility in ancillary service provision to maintain reliable and efficient grid operations. However, full recognition and appropriate compensation of this flexibility is difficult to ensure within current power market designs due to rigidities in service definitions and requirements. ...

In this paper, a new reactive power market clearing (RPMC) mechanism for day-ahead competitive electricity market is developed based on multi-objective optimization approach. In proposed mechanism, three objective functions such as total payment function (TPF) for reactive power support from generators and synchronous condensers, total real transmission loss (TRTL) and voltage stability enhance...

This paper presents a new multi-objective coupled energy and reactive power market clearing model namely the MO-CERPMC model in day-ahead competitive market environment. In proposed model, both the active and reactive power markets are considered as coupled markets and cleared in a same time frame. The multi-objective optimization problem involves the minimization of total payment functions for...

This paper explores the procurement of flexibility services in power system by collaboration between transmission operators (TSO) and distribution (DSO) day-ahead market (DAM). With coordination interaction among operators, existing sources levels are exploited efficiently to procure services. For motivation distributed generation (DGs) microgrids (MGs) provide services, DSO aggregates flexible...

This paper presents a conjectural-variation-based equilibrium model of a single-price electricity market. The main characteristic of the model is that the market equilibrium equations incorporate the effect of the voltage constraints on the companies’ strategic behavior. A two-stage optimization model is used to solve the market equilibrium. In the first stage, an equivalent optimization proble...

This paper focuses on modeling power exchanges in a multi-agent interacting framework with reduced behavioral assumptions. A model of the Day Ahead Market session of OMEL (the Spanish Power Exchange) is proposed using real demand data with simulated seller strategies. The number of sellers is defined at the first stage and the quantity of goods is distributed over the population of agents accor...

Day-Ahead Market offers electricity market participants the opportunity to trade one day ahead of real-time. For each hour, a separate Clearing Price is created in Market. This study aims predict hourly using deep learning techniques. In this context, 24-hour Prices were forecasted with MLP, CNN, LSTM, and GRU. LSTM had best average forecasting performance an 8.15 MAPE value, according results ...

We examine the economic consequences of a bid-based security-constrained centralized unit commitment paradigm based on three-part offers, which is the prevalent day-ahead market-clearing mechanism in restructured electricity markets in the United States. We then compare this approach with an energy-only auction with self-commitment (such as in Australia) addressing efficiency and pricing as wel...