Market Clearing due to the Reliability of Electricity Generation Units
Keywords:Simulation, Energy market, Storage market, Random market clearing, Unit reliability
This paper presented a method for simultaneous clearing of energy and storage markets. The proposed method pursued two goals. The first goal was to take into account the random changes in production in the power grid, for which a random clearing model and the Monte Carlo method were used. In the second goal, the economic operation of production units and their reliability in the process of allocating the required capacity of the energy market and storage to generators, was considered. In the relevant objective function, in addition to energy supply and storage costs, non-energy delivery and storage costs were also included. The outputs of the proposed method could be used in the process of creating the necessary incentives among manufacturers. Because the more reliable the manufacturer, the more market share it would have. The efficiency of the proposed method on a sample network was evaluated and the results are presented.
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This work is licensed under a Creative Commons Attribution 4.0 International License (CC-BY 4.0).