Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.