A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost
نویسنده
چکیده
This paper presents a novel solution method for joint energy and Spinning Reserve (SR) dispatch problem. In systems in which the Lost Opportunity Cost (LOC) should be paid to generators, if the LOC is not considered in the dispatch problem, the results may differ from the truly optimum solution. Since the LOC is a non-differentiable function, including it in the formulation makes the problem solving process to be timeconsuming and improper for real time applications. Here, the joint energy and SR dispatch problem considering the LOC in the objective function is reformulated as a Linear Programming (LP) problem which its solving process is computationally efficient. Also, with reliance on the performance of LP problem solving process, an iterative algorithm is proposed to overcome the self-referential difficulty arising from dependence of the LOC on the final solution. The IEEE 30-bus test system is used to examine the proposed method.
منابع مشابه
A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost
This paper presents a novel solution method for joint energy and Spinning Reserve (SR) dispatch problem. In systems in which the Lost Opportunity Cost (LOC) should be paid to generators, if the LOC is not considered in the dispatch problem, the results may differ from the truly optimum solution. Since the LOC is a non-differentiable function, including it in the formulation makes the problem so...
متن کاملTransmission switching cost modeling and determination candidate Lines for participation in joint energy and reserve markets
There is a great resolution calling for smart grids in recent years. Introduction of new technologies, that make the network flexible and controllable, is a main part of smart grid concept and a key factor to its success. Transmission network as a part of system network has drawn less attention. Transmission switching as a transmission service can release us from load shedding and remove the co...
متن کاملPrice-takers’ bidding strategies in joint energy and spinning reserve pay-as-bid markets
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...
متن کاملJoint energy and reserve dispatch in a multi-area competitive market using time-varying differential evolution
In a deregulated electricity industry, competitive bidding for energy and reserve is increasingly gaining importance and playing a decisive role in maintaining system reliability. The transmission capacity limits have a significant impact on market cost, therefore these limits should also be considered while optimizing the joint dispatch. In this paper, a detailed comparison of classical differ...
متن کاملA method for reserve clearing in disaggregated model considering lost opportunity cost
In this paper, a new formulation for clearing reserve market in a deregulated environment with separated energy and reserve market is introduced. In the proposed method, reserve market is cleared such that the costs associated with capacity reservation, producing energy in real-time, opportunity cost of those units which are accepted in the energy market and backed down from the accepted values...
متن کامل