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Recently, a massive focus has been made on DR programs, mainly on decreasing electricity price, resolving transmission lines congestion, reliability enhancement and market liquidity improving. Basically, demand response programs are separated into two main groups named, incentive-based programs and time-based programs. The focus of this paper is on Time of Use (TOU) program and Direct Load Control...
This paper presents a market-based transmission expansion planning model and compares it with a traditional reliability-based transmission planning model. Reliability-based transmission planning tries to install new lines at minimal cost while fulfilling system reliability criteria. Market-based transmission planning, on the other hand, seeks investment opportunities so that network expansions can...
Since its inception, the New York Independent System Operator (NYISO) has recognized the importance of allowing demand response resources to maintain reliability and participate in the NYISO's wholesale markets. Currently the NYISO has four Demand Response programs: the Emergency Demand Response Program (EDRP), the ICAP Special Case Resources (SCR) program, the Day Ahead Demand Response Program (DADRP)...
The selection of generation projects is based on the amount of energy consumption in the expected growth of demand in the amount of operating reserves and needs to regulate the system. A viable solution to meet energy needs and expansion of systems is the Distributed Generation - DG. Single source of DG does not guarantee economic generation, reliability, flexibility and controllability in energy...
In a liberalized electricity market, it is not surprising that different customers need different power quality levels with different price. So how to achieve the synthetic grading evaluation of power quality becomes a concerned problem. In this paper, the idea of classified evaluation of power quality is emphasized, and the major differences between the continuous and event-based power quality problems...
Multi-level fuzzy comprehensive evaluation method is a comprehensive analysis of combining method, which combines AHP with fuzzy comprehensive evaluation.It is an effective quantitative analysis method for technical and economic evaluation of distribution network with the difficult “fuzzy problems”. As the gradual formation of China's electricity market, distribution network has become an important...
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...
Defining and evaluating operational equilibriums in real-time market, constrained by operation risks and economical biddings, is in the center of market operation and its enhancement. For example, in the two-settlement market design, reliability unit commitment is an important stage to bridge day-ahead market with Real-time system operation, which commits additional units to cover forecasted load...
Capacity markets have been launched at several ISOs in the US. Many questions arise: Is a capacity market for missing money or reliability? What is a capacity product? How to price the capacity product? These questions are nontrivial and have been discussed in the literature mostly from the economics perspective. This paper attempts to address them from both economics and engineering perspectives...
Congestion management is one of the most important issues for secure and reliable system operations in deregulated electricity market. This paper presents a cost/worth analysis approach for optimal location and sizing of Distributed Resources (DRs) to mitigate congestion and increase security of the system. In order to reduce the solution space a priority of candidate buses is formed, then optimal...
This paper reviews the high performance technical computing (HPTC) applications in Midwest Independent Transmission System Operator INC (Midwest ISO or MISO) various operation functions. The paper briefly describes the day ahead market, real time market and FTR market. Its ancillary service market design is presented as an example of the application of the high performance technical computing. The...
In economic valuation - cost-benefit analysis - of transmission upgrades under competitive market environment, cost of transmission facilities is determined based on the annual carrying charge and benefit is defined based on the concept of `social welfare maximization'. A transmission upgrade is chosen to be built when its benefit exceeds its cost plus some percentage adder to account for future uncertainty...
Many power markets around the world have been facing inadequacy with generation capacity investment to meet the growing demand. Among various frameworks directed towards this problem, capacity markets have emerged in major eastern US power markets. In this paper, a prototype capacity market is discussed which is consistent with the trend of convergence of market design. Based on this, the critical...
Earlier research has shown that adding wind capacity to a network can lower the total annual operating cost of meeting a given pattern of loads by displacing conventional generation. At the same time, the variability of wind generation and the need for higher levels of reserve generating capacity to maintain reliability standards impose additional costs on the system that should not be ignored. The...
In this paper we explore the interaction between a dynamic model of the power transmission system (OPA) and a simple economic model of power generation development. Despite the simplicity of this economic model, complex dynamics both in the economics (prices, market share etc) and in the transmission system characteristics (blackouts, reliability etc) are found. Depending on the values of the control...
This paper discusses recent regulatory initiatives for integration of demand-side capabilities with smart grid and Organized Market operations, and challenges associated with variable generation. The paper will then present a broad-based framework to address integration and interoperability requirements identifying systems, functions and operations that need to be covered for such end-to-end integration.
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...
Summary form only given. Electricity markets have been moving on from infancy toward maturity. Experiences have shown that competitive market operation needs to integrate with secure and reliable system operation; otherwise, market failure and/or blackout may happen. This panel will review PJM's practice on how to achieve equilibrium between economic efficiency and system operation risk. In PJM's...
As the electrical power industry is restructured, the electrical power exchange is becoming extended. One of the key information used to determine how much power can be transferred through the network is known as available transfer capability (ATC). To calculate ATC, traditional deterministic approach is based on the severest case, but the approach has the complexity of procedure. Therefore, novel...
In this paper, we describe an economic model of market-based transmission planning, employed at PJM Interconnection, the largest regional transmission organization (RTO) in the U.S. We call this model the ldquoMarket Efficiency Analysisrdquo model. The salient feature of this model is that it is based on the forecasted congestion in the PJM system for future years, based on the best possible system...
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