Valuation of reserve services

Pablo A. Ruiz; Peter W. Sauer

doi:10.1109/HICSS.2008.489

Valuation of reserve services

Research output: Chapter in Book/Report/Conference proceeding › Conference 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 language	English (US)
Title of host publication	Proceedings of the 41st Annual Hawaii International Conference on System Sciences 2008, HICSS
DOIs	https://doi.org/10.1109/HICSS.2008.489
State	Published - Sep 16 2008
Event	41st Annual Hawaii International Conference on System Sciences 2008, HICSS - Big Island, HI, United States Duration: Jan 7 2008 → Jan 10 2008

Publication series

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

Other

Other	41st Annual Hawaii International Conference on System Sciences 2008, HICSS
Country/Territory	United States
City	Big Island, HI
Period	1/7/08 → 1/10/08

ASJC Scopus subject areas

Engineering(all)

Online availability

10.1109/HICSS.2008.489

Library availability

Discover UIUC Full Text

Cite this

Ruiz, PA & Sauer, PW 2008, Valuation of reserve services. in Proceedings of the 41st Annual Hawaii International Conference on System Sciences 2008, HICSS., 4438884, Proceedings of the Annual Hawaii International Conference on System Sciences, 41st Annual Hawaii International Conference on System Sciences 2008, HICSS, Big Island, HI, United States, 1/7/08. https://doi.org/10.1109/HICSS.2008.489

@inproceedings{12567088da5d411d9b74086a54809d35,

title = "Valuation of reserve services",

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.",

author = "Ruiz, {Pablo A.} and Sauer, {Peter W.}",

year = "2008",

month = sep,

day = "16",

doi = "10.1109/HICSS.2008.489",

language = "English (US)",

isbn = "0769530753",

series = "Proceedings of the Annual Hawaii International Conference on System Sciences",

booktitle = "Proceedings of the 41st Annual Hawaii International Conference on System Sciences 2008, HICSS",

note = "41st Annual Hawaii International Conference on System Sciences 2008, HICSS ; Conference date: 07-01-2008 Through 10-01-2008",

}

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 -

Valuation of reserve services

Abstract

Publication series

Other

ASJC Scopus subject areas

Online availability

Library availability

Related links

Fingerprint

Cite this