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This paper introduces a production cost modeling approach for evaluating the benefits of intra-hour scheduling among Balancing Authorities (BAs). System operation is modeled in a three-stage sequential manner: day ahead (DA)-hour ahead (HA)?real time (RT). In addition to contingency reserve, each BA will need to carry out “up” and “down” load following and regulation reserve capacity requirements...
The problem of real-time interchange scheduling between two independently operated regions is considered. An optimal scheduling scheme is proposed by maximizing the expected economic surplus based on Coordinated Transaction Scheduling (CTS) mechanism. The proposed technique incorporates probabilistic forecasts of renewable generation to optimize the interchange schedule using a parametric programming...
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