Swing Contracts With Dynamic Reserves for Flexible Service Management

The increasing penetration of variable energy resources in modern electric power systems requires additional flexibility in reserve provision to maintain reliable and efficient grid operations. However, full recognition and appropriate compensation of this flexibility is difficult to ensure within c...

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Bibliographic Details
Published in:IEEE transactions on power systems 2019-09, Vol.34 (5), p.4024-4037
Main Authors: Ma, Shanshan, Wang, Zhaoyu, Tesfatsion, Leigh
Format: Article
Language:English
Subjects:
Contracts
Day-ahead market
dynamic regulation reserve zones
Electric power systems
Energy management
Energy resources
Energy sources
Engineering
Flexibility
flexible service provision
Integer programming
Linear programming
Markets
Measurement
MILP optimization
Optimization
Power markets
Power system dynamics
Resource management
swing contract
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Summary:The increasing penetration of variable energy resources in modern electric power systems requires additional flexibility in reserve provision to maintain reliable and efficient grid operations. However, full recognition and appropriate compensation of this flexibility is difficult to ensure within current power market designs due to rigidity in reserve definitions and requirements. This paper proposes a new mixed-integer linear programming formulation for the optimal clearing of a day-ahead market based on swing contracts with dynamically updated regulation reserve zones. Five-bus and 30-bus test cases are used to illustrate the effectiveness of the proposed new market design.
ISSN:0885-8950
1558-0679
DOI:10.1109/TPWRS.2018.2831924