Calibration of Operating Reserve Demand Curves Using a System Operation Simulator

The objective of this paper is to analyse the trade-off between cost operation and system reliability resulting from different shapes Operating Reserve Demand Curves under scarcity pricing. We implement a model short-term Belgium we validate it against historical realisations operation. implemented using 4 embedded optimization problems. simulates lag mobilizing flexible resources versus increased that these ensure for allows us quantity effect on level pricing adders. compare eight variants operating reserve demand curves, use them as basis supporting recommendation Belgian regulatory authority implementation in Belgium.