Note: This content is accessible to all versions of every browser. However, this browser does not seem to support current Web standards, preventing the display of our site's design details.

  

Time-sequence reserve products for electricity markets

Author(s):

J. Warrington, S. Mariéthoz, M. Morari
Conference/Journal:

International Conference on the European Energy Market, Stockholm, Sweden, pp. 1-7
Abstract:

Time-sequence reserves, or reserve policies, are planned responses to the discovery of an error in the prediction of net electrical load in a power system. By selling such a product, a market participant commits to respond with a sequence of changes in power output, for several trading intervals after and including the one in which the error was measured. The advantage of such a planned response is that, following the activation of reserves, generation or storage capacity can be freed up more systematically than is the case for existing tertiary reserve mechanisms. Furthermore, forecast errors are strongly correlated in time, and the ability to plan reserve policies taking this into account may reduce average operating costs. The authors recently published a mathematical grounding for reserve policies demonstrating their potential benefits using a simplified model of a power system — the present paper establishes the main practicalities surrounding a real implementation.

Year:

2013
Type of Publication:

(01)Article
Supervisor:

M. Morari

File Download:

Request a copy of this publication.
(Uses JavaScript)
% Autogenerated BibTeX entry
@InProceedings { WarMar:2013:IFA_4367,
    author={J. Warrington and S. Mari{\'e}thoz and M. Morari},
    title={{Time-sequence reserve products for electricity markets}},
    booktitle={International Conference on the European Energy Market},
    pages={1--7},
    year={2013},
    address={Stockholm, Sweden},
    month=may,
    url={http://control.ee.ethz.ch/index.cgi?page=publications;action=details;id=4367}
}
Permanent link