NDLI: Development of energy and reserve pre-dispatch and re-dispatch models for real-time price risk and reliability assessment

Content Provider	IET Digital Library
Author	Ding, Yi Xie, Min Wu, Qiuwei Østergaard, Jacob
Abstract	In the future, energy framework of European Union and other countries, renewable energy plays an important role tackling the problems of the climate change and security of energy supply. The high penetration of renewable energy sources will increase the burden of system operator for maintaining system reliabilities. However, the current strategy of reliability management developed for conventional power systems and existing electricity market design may not cope with the future challenges the power system faces. The development of smart grid will enable power system scheduling and the electricity market to operate in a shorter time horizon for better integrating renewable energy sources into power systems. This study presents an electricity market scheme including a multi-period energy and reserve pre-dispatch model and an energy re-dispatch model for real time operation, respectively. The multi-period energy and reserve pre-dispatch model is formulated using the multi-period optimal power flow technique. During the real time operation, the energy re-dispatch model is used for contingency management and providing balancing services. The proposed market scheme coupled with a contingency analysis methodology has been used to evaluate both real-time electricity price risk and short term reliabilities during the operational hour in the new environment.
Starting Page	1338
Ending Page	1345
Page Count	8
ISSN	17518687
Volume Number	8
e-ISSN	17518695
Issue Number	Issue 7, Jul (2014)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/8/7
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2013.0822
Journal	IET Generation, Transmission & Distribution
Publisher Date	2014-02-11
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Climate Change Contingency Analysis Methodology Contingency Management Day-ahead Market Electricity Market Design Energy Development Energy ReSource Energy Supply Security European Union Ex-ante Electricity Prices Generation Re-dispatch Load Curtailment Load Flow Modified IEEE-RTS Multiperiod Energy Model Multiperiod Optimal Power Flow Technique Power Generation Dispatch Power Generation Reliability Power Generation Scheduling Power Market Power System Economics Power System Managemen Power System Operation Power System Scheduling Pricing Real-time Electricity Price Risk Real-time Electricity Prices Reliability Reliability Assessment Reliability Management Renewable Energy Renewable Energy Source Renewable Power Production Reserve Predispatch Model Reserve Redispatch Model Short Term Reliabilities Single-period AC OPF Model Smart Grid Development Smart Power Grid System Reliabilities
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

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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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