Incorporating Short-Term Stored Energy Resource Into Midwest ISO Energy and Ancillary Service Market

The purpose of this paper is to analyze various approaches to incorporate short-term stored energy resources into the Midwest ISO co-optimized energy and ancillary service market. Based on the analysis, the best approach is to utilize short-term stored energy resources for regulating reserve with th...

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Bibliographic Details
Published inIEEE transactions on power systems Vol. 26; no. 2; pp. 829 - 838
Main Authors Yonghong Chen, Keyser, M, Tackett, M H, Xingwang Ma
Format Journal Article
LanguageEnglish
Published New York IEEE 01.05.2011
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subjects
Ancillary services
co-optimization
Computer simulation
Conferences
Control
dispatch and scheduling
Energy resources
Energy storage
Internal energy
ISO
ISO standards
locational marginal price
market clearing price
Markets
Monte Carlo methods
Procurement
Real time systems
reserve
Reserves
Spinning
stored energy resource
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Summary:The purpose of this paper is to analyze various approaches to incorporate short-term stored energy resources into the Midwest ISO co-optimized energy and ancillary service market. Based on the analysis, the best approach is to utilize short-term stored energy resources for regulating reserve with the real-time energy dispatch to be set in such a way that the maximum regulating reserve can be cleared. Results on a five-bus system are used to illustrate the clearing and pricing on short-term stored energy resources with the proposed approach. Monte Carlo simulation on the five-bus system is used to illustrate the AGC regulation deployment.
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ISSN:0885-8950
1558-0679
DOI:10.1109/TPWRS.2010.2061875