A Market Clearing Mechanism Considering Primary Frequency Response Rate
Yang Yang, Jimmy Chih‐Hsien Peng, Zhi‐Sheng Ye
Abstract
Prior-art market mechanism designs in the literature do not well distinguish the primary frequency reserve resources with different response rates. This letter proposes a performance ratio that quantifies the relative effectiveness of generators and flexible demand resources in frequency regulation considering their response rates. The performance ratio is incorporated into a real-time market clearing model to optimize both upward and downward primary frequency reserve resources. The proposed method is validated based on the IEEE 118 bus system.
Topics & Concepts
ClearingMarket clearingDemand responseAutomatic frequency controlComputer scienceFrequency responseElectric power systemControl theory (sociology)EngineeringPower (physics)TelecommunicationsEconomicsMicroeconomicsElectricityElectrical engineeringControl (management)Artificial intelligenceQuantum mechanicsPhysicsFinanceElectric Power System OptimizationMicrogrid Control and OptimizationPower System Optimization and Stability