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| DOI | 10.1016/j.enpol.2021.112443 |
| Impact of operating reserve rules on electricity prices with high penetrations of renewable energy | |
| Frew B.; Brinkman G.; Denholm P.; Narwade V.; Stephen G.; Bloom A.; Lau J. | |
| 发表日期 | 2021 |
| ISSN | 03014215 |
| 卷号 | 156 |
| 英文摘要 | In competitive wholesale electricity markets, significant effort is devoted to designing markets that set efficient prices for maintaining supply-demand balance. One factor that can impact prices is administratively-set scarcity pricing, which sets prices to a preset level when the market is not able to meet operating reserve or energy requirements. When energy and operating reserves are co-optimized, assumptions surrounding operating reserve requirements and scarcity pricing can impact system-wide price outcomes for both operating reserves and energy. This study uses production cost modeling of an ERCOT-like system to evaluate the impact of operating reserve eligibility, scarcity pricing, and quantity rules on electricity prices, and therefore also on generator revenues. Results reveal economic and operational benefits with allowing open participation in reserve markets, as this enables greater access to the full set of capable resources at lowest cost. Furthermore, both energy and reserve prices are strongly impacted by reserve scarcity pricing events, which reveals that reserve scarcity pricing assumptions can impact price outcomes even for units not providing reserves. This study highlights the importance of operating reserve scarcity pricing rules because of the strong coupling between energy and reserve prices and because these rules serve as proxies for true price responsive demand. © 2021 Elsevier Ltd |
| 关键词 | Ancillary servicesERCOTRenewablesRevenue sufficiencyWholesale electricity markets |
| 英文关键词 | Power markets; Ancillary service; Electricity prices; Energy prices; ERCOT; Operating energies; Operating reserve; Operating reserve requirements; Renewables; Revenue sufficiency; Wholesale electricity markets; Costs |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/205097 |
| 作者单位 | National Renewable Energy Laboratory, Golden, CO 80401, United States |
| 推荐引用方式 GB/T 7714 | Frew B.,Brinkman G.,Denholm P.,et al. Impact of operating reserve rules on electricity prices with high penetrations of renewable energy[J],2021,156. |
| APA | Frew B..,Brinkman G..,Denholm P..,Narwade V..,Stephen G..,...&Lau J..(2021).Impact of operating reserve rules on electricity prices with high penetrations of renewable energy.Energy Policy,156. |
| MLA | Frew B.,et al."Impact of operating reserve rules on electricity prices with high penetrations of renewable energy".Energy Policy 156(2021). |
| 条目包含的文件 | 条目无相关文件。 | |||||
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