Modelling and evaluation of interruptible-load programmes in electricity markets

Access Full Text

Modelling and evaluation of interruptible-load programmes in electricity markets

For access to this article, please select a purchase option:

Buy article PDF
£12.50
(plus tax if applicable)
Add to cart
Buy Knowledge Pack
10 articles for £75.00
(plus taxes if applicable)
Add to cart

IET members benefit from discounts to all IET publications and free access to E&T Magazine. If you are an IET member, log in to your account and the discounts will automatically be applied.

Learn more about IET membership 

Recommend Title Publication to library

You must fill out fields marked with: *

Librarian details
Name:*
Email:*
Your details
Name:*
Email:*
Department:*
Why are you recommending this title?
Select reason:
 
 
 
 
 
IEE Proceedings - Generation, Transmission and Distribution — Recommend this title to your library

Thank you

Your recommendation has been sent to your librarian.

© IEE
Published

Achieving higher system reliability using market-based approaches is a contemporary issue that has been attracting a great deal of attention in the emerging deregulated electricity-market structure. The paper presents a methodology for the modelling and evaluation of interruptible-load programmes to tackle this issue. The interruptible-load programme is formulated as an equivalent price-based generating resource with a random outage effect, and is thus incorporated in a probabilistic production simulation of a system. The interdependence between the electricity spot-market price and the equivalent generating-resource parameters is addressed and solved by an iterative co-ordinating algorithm. The proposed approach is capable of achieving comprehensive evaluations and systematic decision making for the interruptible load programme in electricity-market operation. A numerical-case-study example is presented to illustrate the validity of the method. The results reveal that interruptible-load programmes can serve effectively as a market-based tool to achieve a proper balance between generation-capacity reliability and economics in the competitive electricity markets.

Inspec keywords: power generation reliability; decision making; iterative methods; pricing; power generation economics; power markets

Other keywords: deregulated electricity market; power generation economics; iterative co-ordinating algorithm; probabilistic production simulation; power generation reliability; interruptible-load programme; price-based generation resource; decision making

Subjects: Power system management, operation and economics; Generating stations and plants; Reliability; Interpolation and function approximation (numerical analysis)

References

    1. 1)
      • M.B. Rosenzweig , H. Fraser , J. Falk , S. P. Voll . Market power and demand responsiveness: letting customers protect themselves. Elect. J. , 4 , 11 - 23
    2. 2)
      • F.R. Shih , M. Mazumdar . An analytical formula for the mean and variance of marginal costs for a power generation system. IEEE Trans. , 3 , 731 - 737
    3. 3)
      • D.S. Kirschen . Demand-side view of electricity markets. IEEE Trans. , 2 , 520 - 526
    4. 4)
      • A.S. Malik . Simulation of DSM resources as generating unit in probabilistic production costing framework. IEEE Trans. , 4 , 1528 - 1533
    5. 5)
      • M. Fotuhi-Firuzabad , R. Billinton . Impact of load management on composite system reliability evaluation short-term operating benefits. IEEE Trans. , 2 , 858 - 864
    6. 6)
      • M. Fahrioglu , F.L. Alvarado . Designing incentive compatible contracts for effective demand management. IEEE Trans. , 4 , 1255 - 1260
    7. 7)
      • R.N. Boisvert , P.A. Cappers , B. Neenan . The benefits of customer participation in wholesale electricity markets. Elect. J. , 3 , 41 - 51
    8. 8)
      • T.W. Gedra , P.P. Varaiya . Markets and pricing for interruptible electric power. IEEE Trans. , 1 , 122 - 128
    9. 9)
      • Valenzuela, J., Mazumdar, M.: `On the computation of the probability distribution of the spot market price in a deregulated electricity market', Proc. 22nd IEEE PES Int. Conf. Power Industry Computer Application, May 2001, Sydney, Australia, p. 268–271.
    10. 10)
      • D.L. Moss . Competition or reliability in electricity? What the coming policy shift means for restructuring. Elect. J. , 2 , 11 - 28
    11. 11)
      • F. Schweppe , M. Caramanis , R. Tabors , R. Bohn . (1988) Spot pricing of electricity.
    12. 12)
      • D. Sutanto , H.R. Outhred , Y.B. Lee . Probabilistic power system production cost and reliability calculation by the Z-transform method. IEEE Trans. , 4 , 559 - 565
    13. 13)
    14. 14)
      • M. O'Sheasy . Demand response: not just rhetoric, it can truly be the silver bullet. Elect. J. , 10 , 48 - 60
    15. 15)
      • L.A. Tuan , K. Bhattacharya . Competitive framework for procurement of interruptible load services. IEEE Trans. , 2 , 889 - 897
    16. 16)
      • M. Fahrioglu , F.L. Alvarado . Using utility information to calibrate customer demand management behavior models. IEEE Trans. , 2 , 317 - 322
    17. 17)
    18. 18)
      • E. Lieb-Doczy , A. Borner , G. MacKerron . Who secures the security of supply? European perspectives on security, competition, and liability. Elect. J. , 10 , 10 - 19
    19. 19)
    20. 20)
    21. 21)
http://iet.metastore.ingenta.com/content/journals/10.1049/ip-gtd_20045138
Loading

Related content

content/journals/10.1049/ip-gtd_20045138
pub_keyword,iet_inspecKeyword,pub_concept
6
6
Loading