Valuation of Reserve Services

  title={Valuation of Reserve Services},
  author={Pablo A. Ruiz and Peter W. Sauer},
  journal={Proceedings of the 41st Annual Hawaii International Conference on System Sciences (HICSS 2008)},
Spinning reserve is idle capacity connected to the system with the purpose of balancing power demand and supply in real-time and ensuring reliable system operations in the case of equipment outages. The reserve has an economic value since it reduces the load shedding costs. This value is impacted by the reliability and dynamic characteristics of system components, the variability of the load from its forecast, the system operation policies, and economic aspects such as the risk preferences of… CONTINUE READING
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