Impacts of Contingency Reserve on Nodal Price and Nodal Reliability Risk in Deregulated Power Systems

Qian Zhao, Peng Wang, Lalit Goel, Yi Ding

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

The deregulation of power systems allows customers to participate in power market operation. In deregulated power systems, nodal price and nodal reliability are adopted to represent locational operation cost and reliability performance. Since contingency reserve (CR) plays an important role in reliable operation, the CR commitment should be considered in operational reliability analysis. In this paper, a CR model based on customer reliability requirements has been formulated and integrated into power market settlement. A two-step market clearing process has been proposed to determine generation and CR allocation. Customers' nodal unit commitment risk and nodal energy interruption have been evaluated through contingency analysis. Customers' reliability cost including reserve service cost and energy interruption cost have also been evaluated.
Original languageEnglish
JournalIEEE Transactions on Power Systems
Volume28
Issue number3
Pages (from-to)2497-2506
ISSN0885-8950
DOIs
Publication statusPublished - 2013

Keywords

  • Contingency reserve (CR)
  • Nodal price
  • Nodal reliability
  • Power market
  • Restructured power system

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