Reliability Based Reactive Power and Reserve Market Modeling Considering Uncertainty on Units Outages

Abstract

A separate reactive market is necessary due to the vital role of reactive power in the system security and reliability. In order to maintain the reliability of the system, reactive power-based indices should be utilized in the reactive power market-clearing model, in which the improvement of these indices depends on the amount of reactive power reserve availability in the system. Therefore, the reactive power and reactive reserve markets have been modeled in this paper for the first time taking into account the reactive power-based reliability indices. In the present paper, a new stochastic framework for day-ahead reactive power and reserve markets clearing is formulated based on the reliability. A two-stage stochastic programming model is presented for the reactive power market clearing process, in which generation uncertainties have been simulated by the Monte Carlo method. In the stochastic programming model, a set of scenarios are considered for the stochastic reactive power market clearing. In each optimization problem, the objective function is defined as the total payment function (TPF) of generators. TPF includes the amount paid to the generators in order to compensate for their reactive power and reactive reserve. The efficiency of the proposed model is tested on IEEE 24-bus reliability system (IEEE RTS).