Pricing inertia and Frequency Response with diverse dynamics in a Mixed-Integer Second-Order Cone Programming formulation

L. Badesa, F. Teng and G. Strbac

Applied Energy, 2020, vol. 260, issue C, No S0306261919320215

Abstract: Low levels of system inertia in power grids with significant penetration of non-synchronous Renewable Energy Sources (RES) have increased the risk of frequency instability. The provision of a certain type of ancillary services such as inertia and Frequency Response (FR) is needed at all times, to maintain system frequency within secure limits if the loss of a large power infeed were to occur. In this paper we propose a frequency-secured optimisation framework for the procurement of inertia and FR with diverse dynamics, which enables to apply a marginal-pricing scheme for these services. This pricing scheme, deduced from a Mixed-Integer Second-Order Cone Program (MISOCP) formulation that represents frequency-security constraints, allows for the first time to appropriately value multi-speed FR.

Keywords: Convex optimisation; Frequency response; Marginal pricing; Renewable energy (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (8)

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DOI: 10.1016/j.apenergy.2019.114334

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