TY - GEN
T1 - Valuation of reserve services
AU - Ruiz, Pablo A.
AU - Sauer, Peter W.
PY - 2008/9/16
Y1 - 2008/9/16
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=51449085176&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=51449085176&partnerID=8YFLogxK
U2 - 10.1109/HICSS.2008.489
DO - 10.1109/HICSS.2008.489
M3 - Conference contribution
AN - SCOPUS:51449085176
SN - 0769530753
SN - 9780769530758
T3 - Proceedings of the Annual Hawaii International Conference on System Sciences
BT - Proceedings of the 41st Annual Hawaii International Conference on System Sciences 2008, HICSS
T2 - 41st Annual Hawaii International Conference on System Sciences 2008, HICSS
Y2 - 7 January 2008 through 10 January 2008
ER -