NDLI: A reserve forecast-based approach to determining credit collateral requirements in electricity markets

Content Provider	IEEE Xplore Digital Library
Author	Sean Chang Le Xie Dumas, J.
Copyright Year	2015
Description	Author affiliation: Dept. of Electr. & Comput. Eng., Texas A&M Univ., College Station, TX, USA (Sean Chang; Le Xie) \|\| Wholesale Market Oper., Electr. Reliability Council of Texas, Taylor, TX, USA (Dumas, J.)
Abstract	In electricity markets, credit collateral requirements for participants have traditionally been set based on historical price data that may not properly reflect future risks. A new predictive approach to determining credit risk is proposed in this paper. For any market that prices reserves in the real-time market, correlation exists between available reserve levels and real-time energy prices. This paper shows that it is possible to forecast hourly system-wide available reserves in a realistic system such as the Electric Reliability Council of Texas (ERCOT) market for up to a week ahead with high confidence. A credit collateral call can then be issued based on predicted system conditions due to the strong correlation between system-wide reserves and real-time energy prices. This in turn, would lower the risk of default for participants as it better reflects their actual risk. Case studies based on a representative ERCOT simulation show that potential scarcity conditions can be successfully identified as far as four days out.
Starting Page	1
Ending Page	5
File Size	478881
Page Count	5
File Format	PDF
ISBN	9781467380409
DOI	10.1109/PESGM.2015.7285727
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2015-07-26
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Wind forecasting Reliability Load forecasting Electricity supply industry Correlation Real-time systems Forecasting credit collateral requirement Reserve forecasting electricity market power system reliability
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
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
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

An Approach to Determine Spinning Reserve Requirements in a Deregulated Electricity Market

A fuzzy-neural approach to electricity load and spot-price forecasting in a deregulated electricity market

European regulating power market operation: Reserve requirement levels for wind power production

Impact of variable renewable energy on US electricity markets

Real-time energy balancing with OOS/OOM/RMR reliability requirements for a zonal electricity market

Modeling MW-dependent ramp rate in the electricity market

Cooperative co-evolutionary approach to electricity load and price forecasting in deregulated electricity markets

Dynamic sizing of energy storage for hedging wind power forecast uncertainty

Real-time optimal participation of wind power in an electricity market

A reserve forecast-based approach to determining credit collateral requirements in electricity markets

Similar Documents

An Approach to Determine Spinning Reserve Requirements in a Deregulated Electricity Market

A fuzzy-neural approach to electricity load and spot-price forecasting in a deregulated electricity market

European regulating power market operation: Reserve requirement levels for wind power production

Impact of variable renewable energy on US electricity markets

Real-time energy balancing with OOS/OOM/RMR reliability requirements for a zonal electricity market

Modeling MW-dependent ramp rate in the electricity market

Cooperative co-evolutionary approach to electricity load and price forecasting in deregulated electricity markets

Dynamic sizing of energy storage for hedging wind power forecast uncertainty

Real-time optimal participation of wind power in an electricity market

A reserve forecast-based approach to determining credit collateral requirements in electricity markets