Abstract
In restructured environment, Ancillary Services (AS) plays a vital role, as they are required for reliable and secure operation of the power system. Operating Reserve (OR), as one of the main AS, is a capability of a power system to prevent any unexpected imbalances caused by generation, transmission or equipment outage has been considered in this work. The approach is based on disaggregated clearing of energy and OR, which can support the development of an effective reserve allocation and pricing methodology. This approach is based on sequential clearing of Energy Market (EM) and Reserve Market (RM) with the objective of procurement cost minimization. The optimization problem is formulated and solved using Optimal Power Flow (OPF) technique which considers all transmission constraints and power flow limits. In this model, the energy is procured first in EM followed by OR in RM. The procurement of both energy and OR using sequential approach has been demonstrated by considering modified IEEE 5-unit test system. Keywords : Electric power deregulation, auction design, operating reserve, sequential dispatch, energy market, reserve market
Published Version
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