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arxiv 1507.01167 v1 pith:OWKSARVV submitted 2015-07-05 math.OC cs.SYeess.SY

Market Clearing for Uncertainty, Generation Reserve, and Transmission Reserve--Part II:Case Study

Hongxing Ye , Yinyin Ge , Mohammad Shahidehpour , Zuyi Li This is my paper
classification math.OC cs.SYeess.SY
keywords reservegenerationmarginalmarketpricetransmissionuncertaintypart
verification ladder T0 review T1 audit T2 compute T3 formal T4 reserved
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In Part II of this two-part paper, we analyze the marginal prices derived in Part I of this two-part paper within a robust optimization framework. The load and generation are priced at Locational Marginal Price (LMP) while the uncertainty and generation reserve are priced at Uncertainty Marginal Price(UMP). The Financial Transmission Right (FTR) underfunding is demonstrated when there is transmission reserve. A comparison between traditional reserve price and UMP is presented. We also discuss the incentives for market participants within the new market scheme.

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