Design of an optimal contract for frequency regulation service
Design of an optimal contract for frequency regulation service
- Author(s): Ying Liu ; Fushuan Wen ; Zhaoxia Jing ; C.Y. Chung ; K.P. Wong
- DOI: 10.1049/cp:20062010
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- Author(s): Ying Liu ; Fushuan Wen ; Zhaoxia Jing ; C.Y. Chung ; K.P. Wong Source: 7th IET International Conference on Advances in Power System Control, Operation and Management (APSCOM 2006), 2006 page ()
- Conference: 7th IET International Conference on Advances in Power System Control, Operation and Management (APSCOM 2006)
- DOI: 10.1049/cp:20062010
- ISBN: 0 86341 246 7
- Location: Hong Kong, China
- Conference date: 30 Oct.-2 Nov. 2006
- Format: PDF
The prerequisite for stable system frequency is to have instantaneous balance of demand and generation of active power. In the framework of the well-known mechanism design theory, the problem of designing an optimal contract between a utility company and a pumped-storage power plant is investigated for frequency regulation that could act as an effective tool for system frequency control in deregulated power systems. Optimization models with different risk types are developed and simulations based on a sample example are employed for demonstration. The results show that the contract such developed benefits both the utility company and the pumped-storage power plant. (8 pages)
Inspec keywords: pumped-storage power stations; frequency control
Subjects: Control of electric power systems; Pumped storage stations and plants; Frequency control
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