NDLI: Preliminary evaluation of an energy and reserve co-optimization market design for the ISO New England

Content Provider	IEEE Xplore Digital Library
Author	Entriken, R. DePillis, M.S.
Copyright Year	2009
Description	Author affiliation: ISO New England, Holyoke ME, 01040 USA (DePillis, M.S.) \|\| Electric Power Research Institute, Palo Alto, CA 94394 USA (Entriken, R.)
Abstract	This paper documents the two parallel activities, the development of a market simulation model of forward and realtime reserve trading, and the results and analysis of numerous experiments on those markets. The experiments serve to incrementally construct our understanding of these markets and to validate the performance of the simulation software. The overall character of the results is typical of economic systems with many interacting commodities utilizing scarce transport. In this case, the forward and real-time reserve products are traded along with energy, transmission, and interfaces. Interfaces act to hold transmission system capacity in reserve, by restricting the total flow over multiple lines to be less than their combined transfer capability. The complications of these interactions can be understood from the constructive process followed throughout the report. We consider the single simultaneous settlement of energy and reserve over uncongested and congested networks and also two settlements of reserve. Competitive and strategic bidding strategies play a critical role in benchmarking and in understanding the potential for the exercise of market power. Experiments with a simplified version of the ISO-NE power system match the past market performance well and help identify potential issues in data collection and market performance.
Starting Page	1
Ending Page	8
File Size	647572
Page Count	8
File Format	PDF
ISBN	9781424442416
ISSN	19449925
DOI	10.1109/PES.2009.5275788
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-07-26
Publisher Place	Canada
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	ISO Analytical models Power generation economics Power system economics Power system simulation Electricity supply industry Testing Costs Software performance Investments Reserve Electricity Markets Agent-Based Simulation Economics Market Power Competition Investment Resource Adequacy
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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