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Probabilistic pricing of ramp service in power systems with wind and solar generation
KTH. (Electricity Market Research Group)
KTH. (Electricity Market Research Group)
2018 (English)In: Renewable & sustainable energy reviews, ISSN 1364-0321, E-ISSN 1879-0690, Vol. 90, p. 851-862Article in journal (Refereed) Published
Abstract [en]

This paper proposes a probabilistic pricing which achieves efficient operation of and investment in ramp-service providers in power systems with a large amount of wind or solar generation. The proposed pricing differs from the existing literature in that it focuses exclusively on the efficient dispatch of electrical energy with no exogenous consideration of the need for reserves or balancing services. The proposed optimal dispatch task determines both the efficient level of any preventive actions taken before a contingency event occurs and the efficient response of the power system - i.e., corrective actions - once an event occurs. We show analytically that the efficient dispatch outcome can be achieved in a decentralized market mechanism provided the market participants are profit-maximizers and price-takers. We show how the total economic benefit of an investment can be decomposed into two components (a) the normal dispatch cost benefit and (b) the economic value of the investment in contributing ramp service to the power system. In order to study different aspects of the probabilistic pricing, the IEEE 30-node example system is deliberately modified. The results show the efficiency of the proposed pricing and the use of the investment model to assess the economic value of ramp-service providers.

Place, publisher, year, edition, pages
Elsevier, 2018. Vol. 90, p. 851-862
Keywords [en]
Investment in ramp-service providers, Power system flexibility, Probabilistic pricing
National Category
Energy Systems
Identifiers
URN: urn:nbn:se:kth:diva-227533DOI: 10.1016/j.rser.2018.03.037ISI: 000434917700057Scopus ID: 2-s2.0-85045417853OAI: oai:DiVA.org:kth-227533DiVA, id: diva2:1205848
Note

QC 20180515

Available from: 2018-05-15 Created: 2018-05-15 Last updated: 2018-07-02Bibliographically approved

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Hesamzadeh, Mohammad Reza

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
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