TY - GEN
T1 - Market implications of reliability unit commitment formulations for Day-Ahead scheduling
AU - Labove, Garret L.
AU - Hytowitz, Robin Broder
AU - Hedman, Kory
N1 - Publisher Copyright:
© 2014 IEEE.
PY - 2014/10/29
Y1 - 2014/10/29
N2 - Reliability Unit Commitment (RUC) is a process by which Independent System Operators (ISOs) commit generation capacity to ensure reliability is maintained for forecasted demand levels. Typically, this process is performed sequentially, where the RUC follows a Day-Ahead Market (DAM) closing to procure additional capacity when the total system demand in the market closing is below forecasted levels. The RUC stage of this process chooses generation commitment decisions that minimize the startup and minimum-load cost components necessary to meet the additional demand requirements. This two-stage approach produces suboptimal solutions for this forward market. An alternative approach is to integrate the DAM and RUC processes such that resources are procured and scheduled simultaneously. In this paper, a model has been developed to compare the two stage (DAM-RUC) formulation and an integrated approach in order to investigate market impacts associated with each structure.
AB - Reliability Unit Commitment (RUC) is a process by which Independent System Operators (ISOs) commit generation capacity to ensure reliability is maintained for forecasted demand levels. Typically, this process is performed sequentially, where the RUC follows a Day-Ahead Market (DAM) closing to procure additional capacity when the total system demand in the market closing is below forecasted levels. The RUC stage of this process chooses generation commitment decisions that minimize the startup and minimum-load cost components necessary to meet the additional demand requirements. This two-stage approach produces suboptimal solutions for this forward market. An alternative approach is to integrate the DAM and RUC processes such that resources are procured and scheduled simultaneously. In this paper, a model has been developed to compare the two stage (DAM-RUC) formulation and an integrated approach in order to investigate market impacts associated with each structure.
KW - Ancillary services
KW - market design
KW - power systems economics
KW - reliability unit commitment
KW - security-constrained unit commitment
UR - http://www.scopus.com/inward/record.url?scp=84930988947&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84930988947&partnerID=8YFLogxK
U2 - 10.1109/PESGM.2014.6939905
DO - 10.1109/PESGM.2014.6939905
M3 - Conference contribution
AN - SCOPUS:84930988947
T3 - IEEE Power and Energy Society General Meeting
BT - 2014 IEEE PES General Meeting / Conference and Exposition
PB - IEEE Computer Society
T2 - 2014 IEEE Power and Energy Society General Meeting
Y2 - 27 July 2014 through 31 July 2014
ER -