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FERC Order 755 requires each RTO/ISO to use market-based mechanisms to select and compensate frequency regulation resources based on a two-part payment methodology, i.e., a capacity payment to keep the capacity in reserve and a performance payment to reflect the amount of work each resource performs in real-time in response to the system operator's dispatch signal. This paper discusses how MISO enhanced...
To remove entry barriers for fast ramping resources, MISO introduced a market resource type called short-term stored energy resources (SER) and implemented performance-based two-part regulation reserve compensation. This paper presents an AGC enhancement proposal to better utilize fast responding capabilities of fast ramping resources to further incentivize new resources to enter into the regulation...
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...
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...
Under Midwest ISO's real-time market, energy and ancillary service products are co-optimized. It is very important for operators to have an indication of where the system stands and take proper action if needed. In this paper, both analytic and numerical methods are presented to evaluate the available room to meet power balance and reserve requirements. It essentially presents indexes on how far away...
This paper reports upon the security-constrained commitment and dispatch algorithms and their implementation for Midwest ISO's day-ahead co-optimized energy and ancillary service markets. The MIP method is utilized to solve the DA market and the RA commitment problems and the LP method solves the DA market clearing problem. Demand response resources are qualified for provision of energy and ancillary...
The purpose of this paper is to describe various methods for utilizing ramp capability in the Midwest ISO co-optimized real time energy and ancillary service market design. A critical component of successful market design is to improve market economic efficiency as well as grid reliability. The paper compares studies on various proposed ramp models. Examples on both 5-bus and Midwest ISO system are...
Midwest ISO's real-time market design with energy and ancillary service co-optimization is reported in this paper. The key components of Midwest ISO's real-time market are described including intra-day reliability commitment, transmission security management, real-time dispatch and pricing. The RT SCED formulation at the core of the real-time dispatch and pricing market is presented. Numerical examples...
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