Abstract

In this paper, we propose an integrated energy and reserve market. Two models for dispatching the energy and the reserve simultaneously with sectional offering prices are presented. The objective function of the first model is to minimize the payment, while the other model minimizes the cost. The uniform energy market price and the uniform reserve price are obtained. The dispatch models are formulated as a mixed integer non-linear programming (MINLP) optimization problem. The IEEE-30 bus system is used for the case study. The uniform prices of energy and spinning reserve are obtained and compared for the two models.

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