Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

H. Ye; Yinyin Ge; Mohammad Shahidehpour; Zuyi Li

doi:10.1109/PESGM.2016.7741847

Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

H. Ye
, Yinyin Ge
, Mohammad Shahidehpour
, Zuyi Li

Electrical and Computer Engineering

Robert W. Galvin Center for Electricity Innovation at Illinois Institute of Technology

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

3 Scopus citations

Abstract

Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.

Original language	English
Title of host publication	IEEE Power and Energy Society General Meeting
Place of Publication	usa
Publisher	IEEE Computer [email protected]
Volume	2016-November
ISBN (Electronic)	9781509041688
DOIs	https://doi.org/10.1109/PESGM.2016.7741847
State	Published - Nov 10 2016
Event	2016 IEEE Power and Energy Society General Meeting, PESGM 2016 - Boston, United States Duration: Jul 17 2016 → Jul 21 2016

Conference

Conference	2016 IEEE Power and Energy Society General Meeting, PESGM 2016
Country/Territory	United States
City	Boston
Period	07/17/16 → 07/21/16

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Flexibility
Marginal prices
Robust SCUC
Uncertainty

Access to Document

10.1109/PESGM.2016.7741847

Cite this

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title = "Pricing energy and flexibility in robust Security-Constrained Unit Commitment model",

abstract = "Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.",

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author = "H. Ye and Yinyin Ge and Mohammad Shahidehpour and Zuyi Li",

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Ye, H, Ge, Y, Shahidehpour, M & Li, Z 2016, Pricing energy and flexibility in robust Security-Constrained Unit Commitment model. in IEEE Power and Energy Society General Meeting. vol. 2016-November, 7741847, IEEE Computer [email protected], usa, 2016 IEEE Power and Energy Society General Meeting, PESGM 2016, Boston, United States, 07/17/16. https://doi.org/10.1109/PESGM.2016.7741847

TY - GEN

T1 - Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

AU - Ye, H.

AU - Ge, Yinyin

AU - Shahidehpour, Mohammad

AU - Li, Zuyi

PY - 2016/11/10

Y1 - 2016/11/10

N2 - Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.

AB - Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.

KW - Flexibility

KW - Marginal prices

KW - Robust SCUC

KW - Uncertainty

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M3 - Conference contribution

VL - 2016-November

BT - IEEE Power and Energy Society General Meeting

PB - IEEE Computer [email protected]

CY - usa

T2 - 2016 IEEE Power and Energy Society General Meeting, PESGM 2016

Y2 - 17 July 2016 through 21 July 2016

ER -

Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

Abstract

Conference

UN SDGs

Keywords

Access to Document

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