Pricing inertia and Frequency Response with diverse dynamics in a Mixed-Integer Second-Order Cone Programming formulation
File(s)1909.06671v2.pdf (274.85 KB)
Accepted version
Author(s)
Badesa, L
Teng, F
Strbac, G
Type
Journal Article
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.
Date Issued
2020-02-15
Date Acceptance
2019-12-04
Citation
Applied Energy, 2020, 260, pp.1-11
ISSN
0306-2619
Publisher
Elsevier BV
Start Page
1
End Page
11
Journal / Book Title
Applied Energy
Volume
260
Copyright Statement
© 2020 Elsevier Ltd. All rights reserved. This manuscript is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Licence http://creativecommons.org/licenses/by-nc-nd/4.0/
Sponsor
Engineering & Physical Science Research Council (EPSRC)
Engineering & Physical Science Research Council (E
Identifier
https://www.sciencedirect.com/science/article/pii/S0306261919320215?via%3Dihub
Grant Number
EP/K002252/1
EP/L019469/1
Subjects
math.OC
math.OC
09 Engineering
14 Economics
Energy
Publication Status
Published online
Article Number
114334
Date Publish Online
2020-01-10