Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands

Hamed  Goudarzi; Mohammad  Rayati; Alimohammad  Ranjbar; Amjad Anvari-Moghaddam

doi:10.1109/EEEIC/ICPSEurope51590.2021.9584567

Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands

Hamed Goudarzi, Mohammad Rayati, Alimohammad Ranjbar, Amjad Anvari-Moghaddam^*

^*Corresponding author for this work

Research output: Contribution to book/anthology/report/conference proceeding › Article in proceeding › Research › peer-review

Abstract

Due to the increase of renewable energy sources (RESs), the uncertainties of power systems are growing significantly which motivates the system operators to consider the security-constrained unit commitment (SCUC) problem to attain financial day-ahead schedules. In the most of current market-clearing models, the system operators obtain the energy and reserve prices using dual variables. Given that the model of market participants includes generating units and flexible demands that are non-convex in the SCUC, the net profit may be negative in the traditional market-clearing mechanisms. Actually, in these mechanisms, the fixed costs of participants are not considered in the prices. This paper introduces the bi-level pricing mechanism based on the duality theorem that guarantees the non-negative profits for all generating units and
flexible demands as the main components of current power systems.

Original language	English
Title of host publication	2021 IEEE International Conference on Environment and Electrical Engineering : EEEIC 2021
Publisher	IEEE Press
Publication date	2021
Pages	1-6
ISBN (Print)	978-1-6654-3614-4
ISBN (Electronic)	978-1-6654-3613-7
DOIs	https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584567
Publication status	Published - 2021
Event	2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe) - Bari, Italy Duration: 7 Sept 2021 → 10 Sept 2021

Conference

Conference	2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe)
Country/Territory	Italy
City	Bari
Period	07/09/2021 → 10/09/2021

Keywords

Reserve Pricing
energy pricing
Non-Convex Market
Flexible demand
unit commitment
Day-ahead market clearing

Access to Document

10.1109/EEEIC/ICPSEurope51590.2021.9584567

AUB Link

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HeatReFlex: Green and Flexible District Heating/Cooling
Anvari-Moghaddam, A., Guerrero, J. M., Nami, H. & Mohammadiivatloo, B.
Danida Fellowship Centre
01/05/2019 → 30/04/2022
Project: Research

Cite this

@inproceedings{9ceb7b9863cc4aa69bfe522a6a2b6b25,

title = "Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands",

abstract = "Due to the increase of renewable energy sources (RESs), the uncertainties of power systems are growing significantly which motivates the system operators to consider the security-constrained unit commitment (SCUC) problem to attain financial day-ahead schedules. In the most of current market-clearing models, the system operators obtain the energy and reserve prices using dual variables. Given that the model of market participants includes generating units and flexible demands that are non-convex in the SCUC, the net profit may be negative in the traditional market-clearing mechanisms. Actually, in these mechanisms, the fixed costs of participants are not considered in the prices. This paper introduces the bi-level pricing mechanism based on the duality theorem that guarantees the non-negative profits for all generating units andflexible demands as the main components of current power systems.",

keywords = "Reserve Pricing, energy pricing, Non-Convex Market, Flexible demand, unit commitment, Day-ahead market clearing",

author = "Hamed Goudarzi and Mohammad Rayati and Alimohammad Ranjbar and Amjad Anvari-Moghaddam",

year = "2021",

doi = "10.1109/EEEIC/ICPSEurope51590.2021.9584567",

language = "English",

isbn = "978-1-6654-3614-4",

pages = "1--6",

booktitle = "2021 IEEE International Conference on Environment and Electrical Engineering",

publisher = "IEEE Press",

note = "2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe) ; Conference date: 07-09-2021 Through 10-09-2021",

}

Goudarzi, H, Rayati, M, Ranjbar, A & Anvari-Moghaddam, A 2021, Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands. in 2021 IEEE International Conference on Environment and Electrical Engineering: EEEIC 2021. IEEE Press, pp. 1-6, 2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe), Bari, Italy, 07/09/2021. https://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584567

Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands. / Goudarzi, Hamed ; Rayati, Mohammad ; Ranjbar, Alimohammad et al.
2021 IEEE International Conference on Environment and Electrical Engineering: EEEIC 2021. IEEE Press, 2021. p. 1-6.

Research output: Contribution to book/anthology/report/conference proceeding › Article in proceeding › Research › peer-review

TY - GEN

T1 - Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands

AU - Goudarzi, Hamed

AU - Rayati, Mohammad

AU - Ranjbar, Alimohammad

AU - Anvari-Moghaddam, Amjad

PY - 2021

Y1 - 2021

N2 - Due to the increase of renewable energy sources (RESs), the uncertainties of power systems are growing significantly which motivates the system operators to consider the security-constrained unit commitment (SCUC) problem to attain financial day-ahead schedules. In the most of current market-clearing models, the system operators obtain the energy and reserve prices using dual variables. Given that the model of market participants includes generating units and flexible demands that are non-convex in the SCUC, the net profit may be negative in the traditional market-clearing mechanisms. Actually, in these mechanisms, the fixed costs of participants are not considered in the prices. This paper introduces the bi-level pricing mechanism based on the duality theorem that guarantees the non-negative profits for all generating units andflexible demands as the main components of current power systems.

AB - Due to the increase of renewable energy sources (RESs), the uncertainties of power systems are growing significantly which motivates the system operators to consider the security-constrained unit commitment (SCUC) problem to attain financial day-ahead schedules. In the most of current market-clearing models, the system operators obtain the energy and reserve prices using dual variables. Given that the model of market participants includes generating units and flexible demands that are non-convex in the SCUC, the net profit may be negative in the traditional market-clearing mechanisms. Actually, in these mechanisms, the fixed costs of participants are not considered in the prices. This paper introduces the bi-level pricing mechanism based on the duality theorem that guarantees the non-negative profits for all generating units andflexible demands as the main components of current power systems.

KW - Reserve Pricing

KW - energy pricing

KW - Non-Convex Market

KW - Flexible demand

KW - unit commitment

KW - Day-ahead market clearing

U2 - 10.1109/EEEIC/ICPSEurope51590.2021.9584567

DO - 10.1109/EEEIC/ICPSEurope51590.2021.9584567

M3 - Article in proceeding

SN - 978-1-6654-3614-4

SP - 1

EP - 6

BT - 2021 IEEE International Conference on Environment and Electrical Engineering

PB - IEEE Press

T2 - 2021 IEEE International Conference on Environment and Electrical Engineering and 2021 IEEE Industrial and Commercial Power Systems Europe (EEEIC / I&CPS Europe)

Y2 - 7 September 2021 through 10 September 2021

ER -

Energy and Reserve Pricing in Uncertain Non-Convex Markets in the Presence of Flexible Demands

Abstract

Conference

Keywords

Access to Document

AUB Link

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Projects

HeatReFlex: Green and Flexible District Heating/Cooling

Cite this