Offer strategies for wholesale energy and regulation markets

Dariush Fooladivanda, Hanchen Xu, Alejandro D. Dominguez-Garcia, Subhonmesh Bose

Research output: Contribution to journalArticlepeer-review

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 languageEnglish (US)
Article number8453030
Pages (from-to)7305-7308
Number of pages4
JournalIEEE Transactions on Power Systems
Volume33
Issue number6
DOIs
StatePublished - Nov 2018

Keywords

  • Regulation markets

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

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