Boomer-Consumer: a model for load consumption and reserve offers in reserve constrained electricity markets

Nigel Cleland (), Golbon Zakeri (), Geoff Pritchard and Brent Young

Computational Management Science, 2015, vol. 12, issue 4, 519-537

Abstract: A model to determine the optimal consumption level and associated reserve offer for a large consumer in a co-optimised electricity market is presented. The method uses numerical simulation along with a full representation of the New Zealand electricity market dispatch model. Uncertainty is introduced through the use of stochastic demand sampling. We approach this process in three phases: phase one contains simulations to determine potential energy and reserve prices under uncertainty. Phase two uses a dynamic programming method, adapted from a generator model, to determine the optimal reserve offer. Phase three is the repetition of phase one with the optimal reserve offer intact. The model has been applied to a user in New Zealand and initial results have been presented. The model approached a theoretical maximum profitability when used as an input to a site curtailment response strategy. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Stochastic optimisation; Demand response; Co-optimised electricity markets; Ancillary services; N-1 reserve (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/s10287-015-0241-2

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