Valuation of reserve services

Pablo A. Ruiz, Peter W. Sauer

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Spinning reserve is idle capacity connected to the system with the purpose of balancing power demand and supply in real-time and ensuring reliable system operations in the case of equipment outages. The reserve has an economic value since it reduces the load shedding costs. This value is impacted by the reliability and dynamic characteristics of system components, the variability of the load from its forecast, the system operation policies, and economic aspects such as the risk preferences of the demand. In this paper, we take into account all these aspects to estimate the reserve value. The results require little computational effort, and are useful in the development of reserve demand functions and optimal reserve requirements.

Original languageEnglish (US)
Title of host publicationProceedings of the 41st Annual Hawaii International Conference on System Sciences 2008, HICSS
DOIs
StatePublished - Sep 16 2008
Event41st Annual Hawaii International Conference on System Sciences 2008, HICSS - Big Island, HI, United States
Duration: Jan 7 2008Jan 10 2008

Publication series

NameProceedings of the Annual Hawaii International Conference on System Sciences
ISSN (Print)1530-1605

Other

Other41st Annual Hawaii International Conference on System Sciences 2008, HICSS
Country/TerritoryUnited States
CityBig Island, HI
Period1/7/081/10/08

ASJC Scopus subject areas

  • Engineering(all)

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