TY - JOUR
T1 - Offer strategies for wholesale energy and regulation markets
AU - Fooladivanda, Dariush
AU - Xu, Hanchen
AU - Dominguez-Garcia, Alejandro D.
AU - Bose, Subhonmesh
N1 - Manuscript received December 15, 2017; revised April 24, 2018 and June 13, 2018; accepted August 13, 2018. Date of publication August 31, 2018; date of current version October 18, 2018. This work was supported in part by the Advanced Research Projects Agency-Energy within the NODES Program under Award DE-AR0000695 and in part by the DOE within the Consortium for Electric Reliability Technology Solutions Program. Paper no. PESL-00258-2017. (Corresponding author: Dariush Fooladivanda.) The authors are with the Department of Electrical and Computer Engineering, University of Illinois at Urbana-Champaign, Urbana, IL 61801 USA (e-mail:,[email protected]; [email protected]; [email protected]; boses@ illinois.edu).
PY - 2018/11
Y1 - 2018/11
N2 - 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.
AB - 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.
KW - Regulation markets
UR - https://www.scopus.com/pages/publications/85052839956
UR - https://www.scopus.com/pages/publications/85052839956#tab=citedBy
U2 - 10.1109/TPWRS.2018.2868131
DO - 10.1109/TPWRS.2018.2868131
M3 - Article
AN - SCOPUS:85052839956
SN - 0885-8950
VL - 33
SP - 7305
EP - 7308
JO - IEEE Transactions on Power Systems
JF - IEEE Transactions on Power Systems
IS - 6
M1 - 8453030
ER -