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 this paper the problem of modeling electricity price dynamics in deregulated energy markets is studied. Since the nature of customers' energy consumption, market participants' strategic behavior and the power system reliability indices are stochastic processes, the electricity price model will be stochastic as well. In our analysis the price of electricity is modeled based on the customers' ...

In order to meet the challenges brought by high penetration of intermittent and fluctuating wind solar power, a short-term optimal scheduling model for wind-solar-hydro hybrid generation system with cascade hydropower is established objective minimizing amount abandoned wind, hydro power maximizing stored energy stations. Cascade considered provide spinning reserve regulation ensure security sy...

in this paper, a stochastic two-stage model is offered for optimization of the day-ahead scheduling of the microgrid. system uncertainties including dispatchable distributed generation and energy storage contingencies are considered in the stochastic model. for handling uncertainties, monte carlo simulation is employed for generation several scenarios and then a reduction method is used to d...