Market provision of flexible energy/reserve contracts

dc.contributor.author Li, Wanning
dc.contributor.author Tesfatsion, Leigh
dc.contributor.author Tesfatsion, Leigh
dc.contributor.department Economics
dc.contributor.department Electrical and Computer Engineering
dc.date 2020-03-13T15:25:10.000
dc.date.accessioned 2020-06-30T02:04:09Z
dc.date.available 2020-06-30T02:04:09Z
dc.date.copyright Fri Jan 01 00:00:00 UTC 2016
dc.date.embargo 2020-03-13
dc.date.issued 2016-01-01
dc.description.abstract <p>The need for flexible service provision has dramatically increased in recent years due to the increased penetration of variable energy resources, as has the need to ensure fair access to service provision from an increasingly diverse array of resources. In response to these needs, this study develops a new analytic optimization formulation for the clearing of day-ahead markets based on swing contracts for the combined flexible provision of energy and reserve services. This new optimization formulation is a mixed integer linear programming (MILP) problem that can be solved using standard MILP solution software. A numerical day-ahead market example is presented to illustrate the potential of this new optimization formulation for real-world implementation.</p>
dc.description.comments <p>© 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. doi: <a href="https://doi.org/10.1109/PESGM.2016.7741553" target="_blank">10.1109/PESGM.2016.7741553</a>.</p>
dc.format.mimetype application/pdf
dc.identifier archive/lib.dr.iastate.edu/econ_las_conf/55/
dc.identifier.articleid 1054
dc.identifier.contextkey 16816312
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath econ_las_conf/55
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/21218
dc.language.iso en
dc.source.bitstream archive/lib.dr.iastate.edu/econ_las_conf/55/2016_Tesfatsion_MarketProvisionManuscript.pdf|||Sat Jan 15 00:55:33 UTC 2022
dc.source.uri 10.1109/PESGM.2016.7741553
dc.subject.disciplines Economic Theory
dc.subject.disciplines Electrical and Computer Engineering
dc.subject.disciplines Industrial Organization
dc.subject.disciplines Oil, Gas, and Energy
dc.subject.disciplines Power and Energy
dc.subject.keywords Wholesale electricity market
dc.subject.keywords variable energy resources
dc.subject.keywords contract design
dc.subject.keywords swing (flexibility)
dc.subject.keywords optimization
dc.subject.keywords mixed integer linear programming
dc.title Market provision of flexible energy/reserve contracts
dc.type article
dc.type.genre conference
dspace.entity.type Publication
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relation.isOrgUnitOfPublication a75a044c-d11e-44cd-af4f-dab1d83339ff
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