Ex Post Pricing in the Co-Optimized Energy and Reserve Market

@article{Zheng2006ExPP,
  title={Ex Post Pricing in the Co-Optimized Energy and Reserve Market},
  author={Tongxin Zheng and E. Litvinov},
  journal={IEEE Transactions on Power Systems},
  year={2006},
  volume={21},
  pages={1528-1538}
}
This paper discusses an alternative to the ex post pricing model currently under development within ISO New England's (ISO NE) ancillary service market. Since ISO NE's real-time ancillary service market co-optimizes both energy and reserve products, ex post pricing is needed for both energy and reserve. A co-optimization approach for ex post pricing requires defining complex pricing rules and implementing heuristics to ensure consistent binding constraints with the ex ante dispatch. In order to… CONTINUE READING