Abstract
Since the Federal Energy Regulatory Commission's (FERC) order no. 888 has mandated the establishment of unbundled electricity markets in the newly deregulated environment, competitive bidding of ancillary services, along with bidding of energy, becomes increasingly important. In this paper, an optimization-based framework for solving a multi-commodity electricity market dispatch problem is presented. In compliance with New England Power Pool (NEPOOL) Market Rules and Procedures, a hybrid dispatch method which combines the sequential dispatch method with the joint dispatch method is proposed to solve the energy and ancillary dispatch problem for ISO New England (ISO-NE). Numerical results on a 6-unit test system and the 324-unit ISO-NE system are included.
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