Abstract
One of the main objectives of power system restructuring is to realize the choice of customers on their desired reliability levels in Spinning Reserve (SR) market. The reliability preferences of customers can affect required SR capacity significantly. So it is necessary to improve the operation of power system by developing the techniques based on customer choice on reliability. In this paper, a novel index is proposed for declaring the reliability preferences, named as Load Value Function (LVF) which is an exponential function of customer’s demand. A developed joint energy and SR markets clearing model is presented in which the declared LVFs are applied in SR capacity scheduling. The proposed market model is a stochastic nonlinear programming problem that minimizes the pre-contingency operation cost, the post-contingency expected operating cost associated with the SR scheduling and the total Expected Load Not Supplied (ELNS) cost of power system based on the proposed index. The modified IEEE reliability test system (IEEE-RTS) is used to evaluate the effectiveness of the proposed index in SR requirement determination problem. Also a comparison is performed between two cases in which the desired reliability levels of customers are based on the fixed Value of Lost Load (VOLL) and the proposed index.
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