An econometric model of the regulating power price for interconnected power systems : the case of the Nord Pool Market

Valenciano, Almudena (Instituto de Investigacion Tecnologica, Universidad Pontificia Comillas, Madrid, Spain) ; Bozorg, Mokthar (EPFL, Lausanne, Switzerland) ; Sossan, Fabrizio (EPFL, Lausanne, Switzerland) ; Paolone, Mario (EPFL, Lausanne, Switzerland)

Transmission System Operators (TSOs) deploy frequency control reserves and regulating power to maintain the load-generation balance in real-time operation of power systems. In the Nordic countries, the TSOs buy regulating power from the Nord Pool regulating power market. In this paper, we developed a tool to quantify the price of regulating power as a function of both economic parameters such as spot (day-ahead) market price, and technical factors representing the current state of the system. First, the Nord Pool is considered as a single bidding area and an aggregated regulating power price is obtained, proving the validity of a simple non-linear algebraic model, when there is no influence of interconnections with neighboring areas. Then, we developed a case study for the West Denmark area, to demonstrate that for complex systems, where there is possibility of trade with other areas and there is high penetration of intermittent generation (e.g., wind power), this simple formulation is no longer valid. Finally, to solve this inconsistency, an improved model is here proposed by considering the effect of interconnections through two scenarios: one for unconstrained trade through the interconnections with neighbouring areas, and the second one where at least one of the interconnecting lines is congested. In addition, the wind penetration level is included as a parameter the non-linear algebraic model.


Note: BOZORG, Mokhtar est chercheur à la HES-SO, HEIG-VD, depuis 2017.


Keywords:
Conference Type:
published full paper
Faculty:
Ingénierie et Architecture
School:
HEIG-VD
Institute:
IESE - Institut d'Energie et Systèmes Electriques
Subject(s):
Ingénierie
Publisher:
Lodz, Poland, 27-29 June 2018
Date:
2018-06
Lodz, Poland
27-29 June 2018
Pagination:
5 p.
Published in:
Proceedings of the 15th International Conference on the European Energy Market (EEM) 2018
DOI:
ISBN:
978-1-5386-1488-4
Appears in Collection:

Note: The status of this file is: restricted


 Record created 2021-07-12, last modified 2021-07-16

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)