Optimization of energy imbalance market of regional transmission organization

This paper presents an optimization approach for real-time imbalance market supported and operated by the regional transmission organization (RTO) or alliance regional transmission organization (ARTO). The revised simplex-based linear programming is used for determining the market clearing prices. The imbalance market is performed every 5 minutes cyclically for three future 5-minute intervals. A study case of 3 areas, 8 generation and 2 load participants has been tested and satisfactory results are illustrated.