Abstract
Following FERC Order 755 in October 2011, wholesale markets in the US adopted a two-part compensation structure in their regulation markets, paying for regulation capacity made available as well as the quantity of regulation actually provided. In this letter, we first present a mathematical model for Pennsylvania-Jersey-Maryland market clearing process for their energy and regulation markets. We then compute the optimal offer of a single energy resource offering its services into such an energy and regulation market. Finally, we empirically illustrate our offer strategy through case studies.
Original language | English (US) |
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Article number | 8453030 |
Pages (from-to) | 7305-7308 |
Number of pages | 4 |
Journal | IEEE Transactions on Power Systems |
Volume | 33 |
Issue number | 6 |
DOIs | |
State | Published - Nov 2018 |
Keywords
- Regulation markets
ASJC Scopus subject areas
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering