S. Hao and D. Shirmohammadi (USA)
Electricity Markets, Ancillary Services, Operating Reserves, Regional Transmission Organization (RTO).
This paper discusses the inter-market interactions between energy and reserve products in electricity markets that are based on clearing pricing method. Integrated and sequential market models for scheduling energy and reserve products in the presence of transmission constraints are presented. Examples are used to illustrate the application of the models and economic consequences of the interactions. We analyze simulation results of the models to reveal the characteristics of different market arrangements, and to suggest how these inter-markets are to be coordinated.
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