Economic Valuation of Power Grid Frequency Security and the Participants Share Specification

Abstract

The increasing penetration of non-synchronous renewable resources has made lots of concerns about frequency security. Therefore, power system studies have tried to address this issue in static and dynamic manners. Although considering the reserve in a static way has the advantage of simplicity, it does not ensure the security. This is indicated in this paper by presenting an extended Economic Dispatch (ED) considering all types of reserves and their practical limitations. Also, integrating numerous dynamic simulations to the problems makes them impractical for large-scale grids. In addition, using estimation methods is not accurate enough due to the simplifications. This paper introduces the Frequency Security Value (FSV) for the first time and proposes its calculation algorithm for a specified schedule based on a Frequency Security Index (FSI). Then, an algorithm is proposed for allocating this FSV to the participants based on their technical values. Also, a sensitivity analysis platform is presented for calculating the effect of various modifications. These concepts may have lots of applications, especially in power grid scheduling considering frequency security and payment of ancillary services. The effectiveness and correctness of the proposed methods and algorithms are demonstrated based on the simulation studies of a real large-scale power grid.