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Ancillary Services (I): Pricing and Procurement of Reserves

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Book cover Operation of Market-oriented Power Systems

Part of the book series: Power Systems ((POWSYS))

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Abstract

This chapter introduces the concept of ancillary services and the various ancillary service markets. In particular, we will discuss the procurement and pricing of reserves in electric power markets. A joint dispatch model for energy and reserve with regards to the real-time and day-ahead market is presented. Finally, development of an option pricing model is described.

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Authors
  1. M. Rashidinejad
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  2. Y. H. Song
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  3. M. H. Javidi
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Editor information

Editors and Affiliations

  1. Department of Electronic and Computer Engineering, Brunel Institute of Power Systems, Brunel University, UB8 3PH, Middlesex, UK

    Yong-Hua Song

  2. Department of Electrical Engineering, Xi’an, Jiaotong University, Xi’an, China

    Xi-Fan Wang

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© 2003 Springer-Verlag London

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Rashidinejad, M., Song, Y.H., Javidi, M.H. (2003). Ancillary Services (I): Pricing and Procurement of Reserves. In: Song, YH., Wang, XF. (eds) Operation of Market-oriented Power Systems. Power Systems. Springer, London. https://doi.org/10.1007/978-1-4471-3735-1_9

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  • DOI: https://doi.org/10.1007/978-1-4471-3735-1_9

  • Publisher Name: Springer, London

  • Print ISBN: 978-1-84996-893-5

  • Online ISBN: 978-1-4471-3735-1

  • eBook Packages: Springer Book Archive

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