NDLI: Procuring and pricing performance-based frequency regulation services in the electricity market

Content Provider	IET Digital Library
Author	Wang, Zhongwei Zhong, Jin
Abstract	This study presents a market model that procures energy and performance-based regulation services simultaneously considering the participation of energy storage devices. The correlations of energy, regulation capacity, and regulation mileage are explicitly demonstrated. The proposed market model determines the energy schedule of generation units, charging and discharging profiles of energy storage devices, and the schedule of regulation services. Market clearing prices for energy, regulation capacity, and regulation mileage are derived and decomposed through Lagrange multiplier analysis. The relationships between the clearing prices of different market products are analysed. The proposed market model is tested and verified with the IEEE 30-bus system.
Starting Page	2633
Ending Page	2642
Page Count	10
ISSN	17518687
Volume Number	11
e-ISSN	17518695
Issue Number	Issue 10, Jul (2017)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/11/10
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2016.1823
Journal	IET Generation, Transmission & Distribution
Publisher Date	2017-05-03
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Battery Storage Plants Charging-discharging Profiles Electricity Market Energy Procurement Energy Storage Device Participation Generation Unit Energy Scheduling IEEE 30-bus Test System Lagrange Multiplier Analysis Market Clearing Prices Market Model Other Power Stations And Plant Power Generation Economics Power Generation Scheduling Power Market Power System Economics Power System Managemen Power System Operation Pricing Pricing Performance-based Frequency Regulation Services Regulation Capacity Regulation Mileage Regulation Service Scheduling
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

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