Design of Ancillary Service Markets
نویسنده
چکیده
1 The work described in this paper was coordinated by the Consortium for Electric Reliability Technology Solutions on behalf of the Department of Energy. Copyright 2001 IEEE. Published in the Proceedings of the Hawaii International Conference On System Sciences, January 3-6, 2001, Maui, Hawaii. Abstract We examine the design of bid selection protocols and settlement rules in ancillary service markets. Such markets are typically operated by an independent system operator (ISO) for competitive procurement of reserves that are needed to ensure the secure operation of a competitive electric power system. Reserve types are characterized in terms of response time and they are downward substitutable (faster responding reserves can replace slower ones). We explore how this substitutability is accounted for in alternative market protocols and we analyze the efficiency, distributional aspects and incentive compatibility of such protocols.
منابع مشابه
Design of Ancillary Service Markets1
1 The work described in this paper was coordinated by the Consortium for Electric Reliability Technology Solutions on behalf of the Department of Energy. Abstract We examine the design of bid selection protocols and settlement rules in ancillary service markets. Such markets are typically operated by an independent system operator (ISO) for competitive procurement of reserves that are needed to...
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