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Following FERC Order 755 in October 2011, wholesale markets in the US adopted a two-part compensation structure in their regulation markets, paying for regulation capacity made available as well as… Click to show full abstract
Following FERC Order 755 in October 2011, wholesale markets in the US adopted a two-part compensation structure in their regulation markets, paying for regulation capacity made available as well as the quantity of regulation actually provided. In this letter, we first present a mathematical model for Pennsylvania–Jersey–Maryland market clearing process for their energy and regulation markets. We then compute the optimal offer of a single energy resource offering its services into such an energy and regulation market. Finally, we empirically illustrate our offer strategy through case studies.
Journal Title: IEEE Transactions on Power Systems
Year Published: 2018
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