this paper demonstrates a method to how reserve capacity and cost allocation could be determined in a pool-based and disaggregated market model. the method considers both the spinning reserve and interruptible loads as the operating reserve services. in the proposed market, generators and consumers (including participation of interruptible loads) submit offers and bids to the independent system...

This paper demonstrates a method to how reserve capacity and cost allocation could be determined in a pool-based and disaggregated market model. The method considers both the spinning reserve and interruptible loads as the operating reserve services. In the proposed market, generators and consumers (including participation of interruptible loads) submit offers and bids to the independent system...

Intermittent nature of wind power faced ISO and power producers with new challenges. Wind power uncertainty has increased the required reserve capacity and deployment reserve. Consequently, large-scale wind power generation increases ISO costs and consequently reserve prices. On the other hand, since wind power producers are price taker, large-scale wind power generation decreases residual dema...

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...

wind power generation is variable and uncertain. in the power systems with high penetration of wind power, determination of equivalent operating reserve is the main concern of systems operator. in this paper, a model is proposed to determine operating reserves in simultaneous market clearing of energy and reserve by stochastic programming based on scenarios generated via monte carlo simulation ...