The rapid expansion of wind-based renewable energy sources highlights the critical need to enhance reserve capacity within power systems. This research aims to develop an effective model for harnessing the combined potential of flexible demand-side resources, acting as demand-side providers (DSPs), to address the inherent unpredictability of wind power. The DSP framework comprises three demand response aggregators: the capacity market program (CAP), energy storage systems (ESSs), and plug-in electric vehicle parking lots (PEVs PLs). To achieve this, a multi-objective two-stage stochastic programming model is introduced. It not only minimizes operational costs for system operators but also maximizes returns for demand-side resource owners supervised by DSPs in the energy and reserve market environment. The problem is tackled using a mixed-integer linear programming (MILP) approach employing a weighted metric methodology. Within this framework, the Weibull probability distribution function (WPDF) is utilized to model wind power uncertainty, while the truncated Gaussian distribution function (GDF) encapsulates the uncertainty regarding electric vehicle owner behavior. The results demonstrate that employing this method for simultaneous programming of energy and reserve not only reduces system operator costs but also enhances profits for resource owners.
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