Day-Ahead and Real-Time Markets Simulation Methodology on Hydro Storage
Yang Gu*; Jordan Bakke†; James McCalley‡ * NRG Energy, Princeton, NJ, 08540† Midcontinent Independent System Operator, Inc., Eagan, MN 55121‡ Department of Electrical and Computer Engineering, Iowa State University, Ames, IA, 50011
Abstract
This chapter presents a simulation methodology that evaluates the economic performance of hydro storage system in the day-ahead (DA) and real-time (RT) markets. A long-term production cost simulation model is employed which conducts Security-Constrained Unit Commitment (SCUC) and Security-Constrained Economic Dispatch (SCED) and co-optimizes both the energy market and the ancillary services market. A novel simulation method ...
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