Deliverable Flexible Ramping Products Considering Spatiotemporal Correlation of Wind Generation and Demand Uncertainties

Xin Fang, Kwami Senam Sedzro, Haoyu Yuan, Hongxing Ye, Bri-Mathias Hodge

Research output: Contribution to journalArticlepeer-review

33 Scopus Citations

Abstract

Flexible ramping products (FRPs) have been implemented by several independent system operators (ISOs) to procure adequate flexible resources. Currently, system operators estimate the system level ramping requirements ignoring the spatiotemporal correlations among various uncertainty sources. This leads to overestimates/underestimates of ramping requirements. In addition, the explicit FRPs model considers only the generation ramping limitation. Other security constraints, such as the transmission limits, are not considered, which leads to deliverability issues of FRPs. To deal with these shortcomings of current FRPs models, this paper proposes a deliverable FRPs based on a distributionally-robust chance constrained multi-interval optimal power flow (DRCC-MIOPF) considering the spatiotemporal correlation of wind power and demand uncertainties endogenously. Furthermore, an asymmetrical affine policy (AAP) is proposed to leverage generation flexibility and mitigate the uncertainty in different directions. The pricing mechanism of the FRPs is proposed using a novel uncertainty-contained locational marginal price (U_LMP) which is derived from the proposed AAP-DRCC-MIOPF model. New components representing the price of FRPs are added into the traditional LMP formulation. Finally, the PJM 5-bus, IEEE 39-bus and IEEE 118-bus systems case studies validate the proposed FRPs approach. The payment of uncertain demand and wind power on FRPs are analyzed.

Original languageAmerican English
Article number8930990
Pages (from-to)2561-2574
Number of pages14
JournalIEEE Transactions on Power Systems
Volume35
Issue number4
DOIs
StatePublished - Jul 2020

Bibliographical note

Publisher Copyright:
© 1969-2012 IEEE.

NREL Publication Number

  • NREL/JA-5D00-75060

Keywords

  • electricity market
  • Flexible ramping products (FRPs)
  • locational marginal price (LMP)
  • Spatiotem-poral correlation

Fingerprint

Dive into the research topics of 'Deliverable Flexible Ramping Products Considering Spatiotemporal Correlation of Wind Generation and Demand Uncertainties'. Together they form a unique fingerprint.

Cite this