Journal article Open Access

A Novel Stochastic Reserve Cost Allocation Approach of Electricity Market Agents in the Restructured Power Systems

Amin Shokri Gazafroudi; Miadreza Shafie-khah; Mehrdad Abedi; S. Hossein Hosseinian; Gholam Hossein Riahy Dehkordi; Lalit Goel; Peyman Karimyan; Francisco Prieto-Castrillo; Juan Manuel Corchado; João P.S.Catalão


Citation Style Language JSON Export

{
  "note": "Amin Shokri Gazafroudi, Francisco Prieto-Castrillo, and Juan Manuel Corchado acknowledge the\nsupport by the European Commission H2020 MSCA-RISE-2014: Marie Sklodowska-Curie project\nDREAM-GO Enabling Demand Response for short and real-time Efficient And Market Based Smart Grid\nOperation - An intelligent and real-time simulation approach ref. 641794. Moreover, Miadreza Shafie-khah\nand Jo\u00e3o P. S. Catal\u00e3o acknowledge the support by FEDER funds through COMPETE 2020 and by\nPortuguese funds through FCT, under Projects SAICT-PAC/0004/2015 - POCI-01-0145-FEDER-016434,\nPOCI-01-0145-FEDER-006961, UID/EEA/50014/2013, UID/CEC/50021/2013, and\nUID/EMS/00151/2013, and funding from the EU 7th Framework Programme FP7/2007-2013 under GA no.\n309048.", 
  "DOI": "10.1016/j.epsr.2017.07.012", 
  "container_title": "Electric Power System Research", 
  "language": "eng", 
  "title": "A Novel Stochastic Reserve Cost Allocation Approach of Electricity Market Agents in the Restructured Power Systems", 
  "issued": {
    "date-parts": [
      [
        2017, 
        7, 
        22
      ]
    ]
  }, 
  "abstract": "<p>In this paper, a new mechanism is proposed to apportion expected reserve costs between<br>\nelectricity market agents in the power system. The uncertainties of generation units, transmission lines, wind<br>\npower generation and electrical loads are considered in this model. Hence, a Stochastic Unit Commitment</p>\n\n<p>(SUC) is used to apply the uncertainty of stochastic variables in the simultaneous energy and reserve market-<br>\nclearing problem. Moreover, electrical customers can participate in the electricity market based on their</p>\n\n<p>desired strategies. In this paper, a novel method is proposed to allocate reserve costs between GenCos,<br>\nTransCos, electrical customers and wind farm owners. Consequently, market agents are responsible for<br>\npaying a portion of the allocated expected reserve costs based on the economic metrics that are defined for<br>\nthe first time in this paper. Finally, two cases including a 3-bus test system and IEEE-RTS are utilized to<br>\nillustrate the performance of the proposed mechanism to share the expected reserve costs.</p>", 
  "author": [
    {
      "family": "Amin Shokri Gazafroudi"
    }, 
    {
      "family": "Miadreza Shafie-khah"
    }, 
    {
      "family": "Mehrdad Abedi"
    }, 
    {
      "family": "S. Hossein Hosseinian"
    }, 
    {
      "family": "Gholam Hossein Riahy Dehkordi"
    }, 
    {
      "family": "Lalit Goel"
    }, 
    {
      "family": "Peyman Karimyan"
    }, 
    {
      "family": "Francisco Prieto-Castrillo"
    }, 
    {
      "family": "Juan Manuel Corchado"
    }, 
    {
      "family": "Jo\u00e3o P.S.Catal\u00e3o"
    }
  ], 
  "page": "223-236", 
  "volume": "152", 
  "type": "article-journal", 
  "id": "1157990"
}
21
5
views
downloads
Views 21
Downloads 5
Data volume 6.4 MB
Unique views 21
Unique downloads 3

Share

Cite as