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The main objective of power system planning is maintaining an adequate level of reliability. The reliability concept has two characteristics: resource adequacy and operational reliability. Traditionally these two characteristics are addressed separately through a sequence of probabilistic and deterministic analyses without a systematic view. This paper presents a resource planning problem that explicitly...
The growing environmental concerns and increasing electricity prices have led to wider implementation of demand-side activities and created a new class of consumers, called demand response resources (DRRs). The DRRs actively participate in the electricity markets as buyers of electricity and sellers of load curtailment services. The demand profile modifications resulting from the DRR curtailments...
Today's capacity markets may be viewed as an additional source of income for generators to compensate the money lost due to regulatory imposed caps. Those additional money flows and other design characteristics serve, theoretically, to achieve system adequacy in a market environment. In this paper, we analyze key aspects of today's capacity market designs. Our main finding is that some design elements...
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