Abstract
An important issue in deregulated power systems is a provision of ancillary services. This paper presents a Mixed Integer Non-Linear Programming (MINLP) formulation for the provision of ancillary services (Automatic Generation Control or AGC, Spinning, Non-spinning and operational reserves) as well as the energy in simultaneous auctions by pool-based aggregated market scheme. The uncertainty of the market clearing procedure is represented by a stochastic model. Thus, the market clearing process is expressed as a stochastic optimization problem in which the expected objective function is minimized, while meeting AC power flow constraints, system reserve requirements and Lost Opportunity Cost (LOC). The model is applied to the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS), and simulation studies carried out to examine the effectiveness of the proposed method.
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