Spot pricing of electricity and ancillary services in a competitive California market

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Typically, in competitive electricity markets, the vertically integrated utilities that were responsible for ensuring system reliability in their own service territories, or groups of territories, cease to exist. The burden falls to an independent system operator (ISO) to ensure that enough ancillary services (AS) are available for safe, stable, and reliable operation of the grid, typically defined, in part, as compliance with officially approved engineering specifications for minimum levels of AS. In order to characterize the behavior of market participants (generators, retailers, and an ISO) in a competitive electricity market with reliability requirements, spot markets for both electricity and AS ... continued below

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Siddiqui, A.S.; Marnay, C. & Khavkin, M. November 1, 2000.

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Description

Typically, in competitive electricity markets, the vertically integrated utilities that were responsible for ensuring system reliability in their own service territories, or groups of territories, cease to exist. The burden falls to an independent system operator (ISO) to ensure that enough ancillary services (AS) are available for safe, stable, and reliable operation of the grid, typically defined, in part, as compliance with officially approved engineering specifications for minimum levels of AS. In order to characterize the behavior of market participants (generators, retailers, and an ISO) in a competitive electricity market with reliability requirements, spot markets for both electricity and AS are modeled. By assuming that each participant seeks to maximize its wealth and that all markets clear, we solve for the optimal quantities of electricity and AS traded in the spot market by all participants, as well as the market clearing prices for each.

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Notes

OSTI as DE00773945

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  • 34th Annual Hawaii International Conference on System Sciences, HICSS-34, Maui, HI (US), 01/03/2001--01/06/2001; Other Information: Supercedes report DE00773945

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  • Report No.: LBNL--46944
  • Grant Number: AC03-76SF00098
  • Office of Scientific & Technical Information Report Number: 773945
  • Archival Resource Key: ark:/67531/metadc724831

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

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  • November 1, 2000

Added to The UNT Digital Library

  • Sept. 29, 2015, 5:31 a.m.

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  • Sept. 1, 2016, 6:53 p.m.

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Siddiqui, A.S.; Marnay, C. & Khavkin, M. Spot pricing of electricity and ancillary services in a competitive California market, article, November 1, 2000; California. (digital.library.unt.edu/ark:/67531/metadc724831/: accessed October 23, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.