Real time ramp model in midwest iso co-optimized energy and ancillary service market design

The purpose of this paper is to describe various methods for utilizing ramp capability in the Midwest ISO co-optimized real time energy and ancillary service market design. A critical component of successful market design is to improve market economic efficiency as well as grid reliability. The paper compares studies on various proposed ramp models. Examples on both 5-bus and Midwest ISO system are used to demonstrate their impacts on dispatch results and pricing.