An international experience of technical and economic aspects of ancillary services in deregulated power industry: Lessons for emerging BRIC electricity markets
Naveen Kumar Sharma,
Yog Raj Sood and
Renewable and Sustainable Energy Reviews, 2018, vol. 90, issue C, 774-801
An introduction of competition in electricity markets and the substantial growth in the capacity of transactions significantly complicates the task of sustaining security and dependability of an electrical arrangement. This responsibility is dedicated to Ancillary Services (AS) that, in perspective to market liberalization, is the accountability of the System Operators (SO) to secure the requisite level of quality and safety. In the liberalized environment, AS are disaggregated from the energy generation, and can be obligated or compensated under market processes. SO seeks specific ways to define, procure and implement such services by managing active power for adjusting the frequency and reactive power for sustaining sufficient voltage profile throughout the arrangement. A comprehensive analysis of several techno-economical aspects of AS in liberalized electricity markets of a developed economy and emerging economies has been reviewed in this work. While attending the wide range of AS, the aim is to provide the promising knowledge of individual service by comparing different AS markets that exists worldwide, showing similarities and conflicts between various market models. Apart from conventional providers of AS, Renewable Energy Sources (RES) in several liberalized electricity markets seem to be a good provider of AS along with energy in order to maximize their revenue from these marketplaces. In addition to their types and definition, participation, contracting approach, selection of offers, dispatch criterion along with renewable energy participation in various electricity markets has been discussed.
Keywords: Ancillary services market; Assessment mechanism; Competitive electricity market; Renewable energy sources; Trading mechanism (search for similar items in EconPapers)
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