Security constrained optimal dispatch for electricity markets
First Claim
1. Computer readable medium containing programinstructions recorded therein, which, when executed by a computer, causes the computer to implement a method for balancing energy generation and energy load in an energy imbalance market of an energy distribution system separate from a bilateral energy trading market and a dedicated regulation function of the energy distribution system, the energy distribution system including an energy distribution region subdivided into a plurality of different control areas including imbalance market participants, said method comprising:
- receiving from a plurality of imbalance market participants, including energy generation participants and energy consuming load participants in an energy distribution region, energy supply and energy demand requirements for imbalance energy in an energy imbalance market; and
determining optimal dispatch of energy generation and energy load for each imbalance market participant for balancing generation and load imbalances in the imbalance market responsive to security constraints of at least one market participant and further responsive to one or more cost functions associated with the generation or consumption of energy over a time interval, wherein the one or more cost functions relate to a plurality of the energy generation participants and energy consuming load participants, wherein determining optimal dispatch is based on the costs of unit spinning reserve according to the relationship;
wherein t is a time interval of a time period T, unit is one of a group of energy generators G, CRe st is an operating cost function of spinning reserve costs for the time interval t, and Re gunitt is a unit spinning reserve for the time interval t; and
load spinning reserve according to the relationship;
wherein t is the time interval of time period T, load is one of the group of energy loads L, CRe st is an operating cost function of spinning reserve costs for the time interval t, and Re gloadt is a load spinning reserve for the time interval t; and
generating balancing dispatch instructions responsive to the determined optimal dispatch of energy generation and energy load for each imbalance market participants for use in controlling their respective energy generation and energy load to remedy energy generation and energy load imbalances in the imbalance market other than the use of a bilateral energy trading market and a dedicated regulation function of the energy distribution system.
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Abstract
The present invention is an apparatus for optimizing security constrained dispatch and pricing for the wholesale energy trading market. The imbalance market uniquely requires a real-time market for bidding and for providing the energy generation adjustments required to satisfy the imbalance. The present invention address the above noted needs by providing a real-time imbalance engine to support and implement the equitable imbalance requirement via a computer system implementation. Additionally, the present invention allows the market generators and loads to provide electronic bids for resolution while considering constraints on the demand and supply system.
11 Citations
14 Claims
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1. Computer readable medium containing program
instructions recorded therein, which, when executed by a computer, causes the computer to implement a method for balancing energy generation and energy load in an energy imbalance market of an energy distribution system separate from a bilateral energy trading market and a dedicated regulation function of the energy distribution system, the energy distribution system including an energy distribution region subdivided into a plurality of different control areas including imbalance market participants, said method comprising: -
receiving from a plurality of imbalance market participants, including energy generation participants and energy consuming load participants in an energy distribution region, energy supply and energy demand requirements for imbalance energy in an energy imbalance market; and determining optimal dispatch of energy generation and energy load for each imbalance market participant for balancing generation and load imbalances in the imbalance market responsive to security constraints of at least one market participant and further responsive to one or more cost functions associated with the generation or consumption of energy over a time interval, wherein the one or more cost functions relate to a plurality of the energy generation participants and energy consuming load participants, wherein determining optimal dispatch is based on the costs of unit spinning reserve according to the relationship; wherein t is a time interval of a time period T, unit is one of a group of energy generators G, CRe st is an operating cost function of spinning reserve costs for the time interval t, and Re gunitt is a unit spinning reserve for the time interval t; and
load spinning reserve according to the relationship;wherein t is the time interval of time period T, load is one of the group of energy loads L, CRe st is an operating cost function of spinning reserve costs for the time interval t, and Re gloadt is a load spinning reserve for the time interval t; and generating balancing dispatch instructions responsive to the determined optimal dispatch of energy generation and energy load for each imbalance market participants for use in controlling their respective energy generation and energy load to remedy energy generation and energy load imbalances in the imbalance market other than the use of a bilateral energy trading market and a dedicated regulation function of the energy distribution system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method for balancing energy generation and energy load in an energy imbalance market of an energy distribution system separate from a bilateral energy trading market and a dedicated regulation function of the energy distribution system, the energy distribution system including an energy distribution region subdivided into a plurality of different control areas including imbalance market participants, the method comprising:
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receiving from a plurality of imbalance market participants, including energy generation participants and energy consuming load participants in an energy distribution region, energy supply and energy demand requirements for imbalance energy in an energy imbalance market; determining optimal dispatch of energy generation and energy load for each imbalance market participant for balancing generation and load imbalances in the imbalance market responsive to security constraints of at least one market participant and further responsive to one or more cost functions associated with the generation or consumption of energy over a time interval, wherein the one or more cost functions relate to a plurality of the energy generation participants and energy consuming load participants, wherein determining optimal dispatch is based on the costs of unit spinning reserve according to the relationship; wherein t is a time interval of a time period T, unit is one of a group of energy generators G, CRe st is an operating cost function of spinning reserve costs for the time interval t, and Re gunitt is a unit spinning reserve for the time interval t; and
load spinning reserve according to the relationship;wherein t is the time interval of time period T, load is one of the group of energy loads L, CRe st is an operating cost function of spinning reserve costs for the time interval t, and Re gloadt is a load spinning reserve for the time interval t; and generating balancing dispatch instructions responsive to the determined optimal dispatch of energy generation and energy load for each imbalance market participant for use in controlling their respective energy generation and energy load to remedy energy generation and energy load imbalances in the imbalance market other than the use of a bilateral energy trading market and a dedicated regulation function of the energy distribution system.
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14. A system for balancing energy generation and energy load in an energy imbalance market of an energy distribution system separate from a bilateral energy trading market and a dedicated regulation function of the energy distribution system, the energy distribution system including an energy distribution region subdivided into a plurality of different control areas including imbalance market participants, the system comprising:
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a database; and a processor configured for; receiving from a plurality of imbalance market participants, including energy generation participants and energy consuming load participants in an energy distribution region, energy supply and energy demand requirements for imbalance energy in an energy imbalance market; determining optimal dispatch of energy generation and energy load for each imbalance market participant for balancing generation and load imbalances in the imbalance market responsive to security constraints of at least one market participant and further responsive to one or more cost functions associated with the generation or consumption of energy over a time interval, wherein the one or more cost functions relate to a plurality of the energy generation participants and energy consuming load participants, wherein determining optimal dispatch is based on the costs of unit spinning reserve according to the relationship; wherein t is a time interval of a time period T, unit is one of a group of energy generators G, CtRe sis an operating cost function of spinning reserve costs for the time interval t, and Re gtunit is a unit spinning reserve for the time interval t; and
load spinningreserve according to the relationship; wherein t is the time interval of time period T, load is one of the group of energy loads L, CtRe s is an operating cost function of spinning reserve costs for the time interval t, and Re gtload is a load spinning reserve for the time interval t; and generating balancing dispatch instructions responsive to the determined optimal dispatch of energy generation and energy load for each imbalance market participant for use in controlling their respective energy generation and energy load to remedy energy generation and energy load imbalances in the imbalance market other than the use of a bilateral energy trading market and a dedicated regulation function of the energy distribution system.
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Specification