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《Journal of Zhejiang University(Engineering Science)》 2004-01
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Survey on operating reserve procurement and pricing in deregulated electricity market environment

ZHAO Xue-shun~(1,2), WANG Zhen~1,YU Zhi-wen~2,WEN Fu-shuan~(1,3), ZHONG De-cheng~2,ZHONG Zhi-yong~2, HUANG Min-xiang~1(1.College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China;2.Department of Electrical Engineering, Hong Kong Polytechnic University, Hong Kong;3.Department of Electrical & Electronics Engineering, the University of Hong Kong, Hong Kong)  
Operating reserve is one of the main ancillary services (AS). It plays an important role in maintaining power system reliability while economically efficient transactions are accommodated in an open electricity market.This paper reviews a series of operating reserve pricing mechanisms under the competitive electricity market environment. The characteristics, pros and cons of procuring and pricing mechanisms based on (i) assessment and allocation of reserve costs, (ii) extension of optimal dispatch, (iii) mechanism design and (iv) balance between economic efficiency and the reliability requirement are investigated. Lastly, the common understanding and the direction of future research on operating reserve in the deregulated electricity market environment, such as requirement determination of operating reserve, evaluation and analysis of opportunity cost and outage cost, coordination of dispatch schedule in energy and operating reserve markets, and so on are discussed.
【Fund】: 高等学校博士学科点专项科研基金资助项目(2000033530).
【CateGory Index】: F407.61
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