Pricing energy and flexibility in robust Security-Constrained Unit Commitment model
- Resource Type
- Conference
- Authors
- Ye, Hongxing; Ge, Yinyin; Shahidehpour, Mohammad; Li, Zuyi
- Source
- 2016 IEEE Power and Energy Society General Meeting (PESGM) Power and Energy Society General Meeting (PESGM), 2016. :1-5 Jul, 2016
- Subject
- Engineering Profession
Power, Energy and Industry Applications
Uncertainty
Robustness
Pricing
Optimization
Electricity supply industry
Economics
Robust SCUC
Marginal prices
Flexibility
- Language
- ISSN
- 1944-9933
Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.