Operating reserve model in the power market

@article{Wang2005OperatingRM,
  title={Operating reserve model in the power market},
  author={Jianxue Wang and Xifan Wang and Yang Wu},
  journal={IEEE Transactions on Power Systems},
  year={2005},
  volume={20},
  pages={223-229}
}
Most of the current research on operating reserve markets assumes that the required capacity is predetermined, which means that the demand of operating reserve capacity is inelastic. This paper considers that operating reserve capacity in a power system is flexible and that one should optimize it by cost-benefit analysis. Based on the reliability evaluation of the generation system, a clearing model of the operating reserve market is proposed to determine the optimal reserve capacity and… CONTINUE READING

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