Coordinating energy and reserves in a wholesale electricity market.

摘要

This thesis addresses a number of questions related to the design of a wholesale electricitymarket and the decentralisation of a mixed hydro and thermal system.Initially it concentrates on the response to price of a Linear Programming model of ahydro station and existence of a step supply curve consistent with that function. This hasimplications for the existence of the perfect competition equilibrium in a simplified energymarket. An experimental analysis is presented, which attempts to quantify the theoriseddiscrepancy between an 'ideal' centrally coordinated solution and the market's solution.The latter half of this thesis develops a Linear Programming based representation ofthe joint energy and reserve capability of a generating unit or station, called the Fan Approximation.This approach is used to develop an offering and market-clearing modelfor energy and reserves which allows hydro, thermal, and interruptible load participantsto compete equally.