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| Content Provider | IET Digital Library |
|---|---|
| Author | Krad, Ibrahim Gao, David Wenzhong Ela, Erik Ibanez, Eduardo Wu, Hongyu |
| Abstract | The electric power industry landscape is continually evolving. As emerging technologies such as wind and solar generating systems become more cost effective, traditional power system operating strategies will need to be re-evaluated. The presence of wind and solar generation (commonly referred to as variable generation or VG) can increase variability and uncertainty in the net-load profile. One mechanism to mitigate this issue is to schedule and dispatch additional operating reserves. These operating reserves aim to ensure that there is enough capacity online in the system to account for the increased variability and uncertainty occurring at finer temporal resolutions. A new operating reserve strategy, referred to as flexibility reserve, has been introduced in some regions. A similar implementation is explored in this study, and its implications on power system operations are analysed. Results show that flexibility reserve products can improve economic metrics, particularly in significantly reducing the number of scarcity pricing events, with minimal impacts on reliability metrics and production costs. The production costs increased due to increased VG curtailment – i.e. including the flexible ramping product in the commitment of excess thermal capacity that needed to remain online at the expense of VG output. |
| Starting Page | 959 |
| Ending Page | 965 |
| Page Count | 7 |
| ISSN | 17521416 |
| Volume Number | 11 |
| e-ISSN | 17521424 |
| Issue Number | Issue 7, Jun (2017) |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/iet-rpg/11/7 |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/10.1049/iet-rpg.2016.0225 |
| Journal | IET Renewable Power Generation |
| Publisher Date | 2017-03-03 |
| Access Restriction | Open |
| Rights Holder | © U.S. Government |
| Subject Keyword | Economic Metrics Electric Power Industry Electric Vehicle Electricity Supply Industry Energy Storage System Flexibility Reserve Strategy Net-load Profile Operating Reserve Strategy Photovoltaic Power System Power Generation Dispatch Power Generation Dispatching Power Generation Economics Power Generation Reliability Power Generation Scheduling Power System Economics Power System Managemen Power System Operation Pricing Production Cost Reliability Reliability Metrics Reserve Demand Curve Solar Generation System Solar Power Stations Variable Generation VG Wind Generation System Wind Power Plant |
| Content Type | Text |
| Resource Type | Article |
| Subject | Renewable Energy, Sustainability and the Environment |
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