Pricing inertia and Frequency Response with diverse dynamics in a Mixed-Integer Second-Order Cone Programming formulation
arXiv:1909.06671 · doi:10.1016/j.apenergy.2019.114334
Abstract
Low levels of system inertia in power grids with significant penetration of non-synchronous Renewable Energy Sources (RES) have increased the risk of frequency instability. The provision of a certain type of ancillary services such as inertia and Frequency Response (FR) is needed at all times, to maintain system frequency within secure limits if the loss of a large power infeed were to occur. In this paper we propose a frequency-secured optimisation framework for the procurement of inertia and FR with diverse dynamics, which enables to apply a marginal-pricing scheme for these services. This pricing scheme, deduced from a Mixed-Integer Second-Order Cone Program (MISOCP) formulation that represents frequency-security constraints, allows for the first time to appropriately value multi-speed FR.
References in corpus (4)
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Cited by in corpus (8)
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- Optimal Portfolio of Distinct Frequency-Response Services in Low-Inertia Systems
- Assigning Shadow Prices to Synthetic Inertia and Frequency Response Reserves from Renewable Energy Sources
- Ancillary services in Great Britain during the COVID-19 lockdown: a glimpse of the carbon-free future
- Cost Allocation for Inertia and Frequency Response Ancillary Services
- Integrated Energy System Optimal Operation in Coal District With Hydrogen Heavy Trucks
- Regional Frequency-Constrained Planning for the Optimal Sizing of Power Systems via Enhanced Input Convex Neural Networks
- Importance of Linking Inertia and Frequency Response Procurement: The Great Britain Case