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Incorporating Short-Term Stored Energy Resource Into Midwest ISO Energy and Ancillary Service Market

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4 Author(s)
Yonghong Chen ; Midwest ISO, Carmel, IN, USA ; Keyser, M. ; Tackett, M.H. ; Xingwang Ma

The purpose of this paper is to analyze various approaches to incorporate short-term stored energy resources into the Midwest ISO co-optimized energy and ancillary service market. Based on the analysis, the best approach is to utilize short-term stored energy resources for regulating reserve with the real-time energy dispatch to be set in such a way that the maximum regulating reserve can be cleared. Results on a five-bus system are used to illustrate the clearing and pricing on short-term stored energy resources with the proposed approach. Monte Carlo simulation on the five-bus system is used to illustrate the AGC regulation deployment.

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Power Systems, IEEE Transactions on  (Volume:26 ,  Issue: 2 )