Modeling of balancing market for competitive wholesale electricity market

Abstract

In light of these problems, the balancing market - a selection of suppliers of electricity in near-real time, based on minimizing the cost to meet the emerging demand for the actual system conditions, based on the bids of suppliers of balancing electricity (generators and consumers with variable load) on the partial content and/or unloading compared with the plan, and involves the formation of nodal equilibrium price for balancing electricity for both buyers balancing electricity and for its suppliers. Perspectives on transition of the considered model of the balancing market are related to the submission of bids in the operating day, reducing the lead time calculations in the balancing market, bringing the dispatching of commands to individual blocks of stations, specifying the computational model, the introduction of automation, etc.