Probability-Weighted LMP and RCP for Day-Ahead Energy Markets using Stochastic Security-Constrained Unit Commitment: Preprint
Variable renewable generation resources are increasing their penetration on electric power grids. These resources have weather-driven fuel sources that vary on different time scales and are difficult to predict in advance. These characteristics create challenges for system operators managing the load balance on different timescales. Research is looking into new operational techniques andstrategies that show great promise on facilitating greater integration of variable resources. Stochastic Security-Constrained Unit Commitment models are one strategy that has been discussed in literature and shows great benefit. However, it is rarely used outside the research community due to its computational limits and difficulties integrating with electricity markets. This paper discusses howit can be integrated into day-ahead energy markets and especially on what pricing schemes should be used to ensure an efficient and fair market.
- Research Organization:
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Wind and Water Technologies Office (EE-4W)
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1046298
- Report Number(s):
- NREL/CP-5500-53524; TRN: US201216%%145
- Resource Relation:
- Conference: Presented at the 12th International Conference on Probabilistic Methods Applied to Power Systems, 10-14 June 2012, Istanbul, Turkey
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
24 POWER TRANSMISSION AND DISTRIBUTION
32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
BALANCES
ELECTRIC POWER
ELECTRICITY
ENERGY
FUELS
GRIDS
MARKET
MEETINGS
RENEWABLE ENERGY SOURCES
electricity markets
power system operations
power system economics
unit commitment
wind generation