Improving electricity market efficiency : from market monitoring to reserve allocation
type: CreativeWork
description: This dissertation proposes new methods to improve the efficiency of electricity markets with respect to market monitoring and reserve allocation. We first present new approaches to monitor the level of competition in electricity markets, a critical task for helping the markets function smoothly. The proposed approaches are based on economic principles and a faithful representation of transmission constraints. The effectiveness of the new approaches is demonstrated by examples based on medium- and large-scale electric power systems. We then propose a new system-operation model using stochastic optimization to systematically allocate reserves under uncertainty. This model aims to overcome the difficulties in both system and market operations caused by the integration of wind power, which results in a higher degree of supply uncertainty. The numerical examples suggest that the proposed model significantly lower the operation costs, especially under high levels of wind penetration.
abstract: This dissertation proposes new methods to improve the efficiency of electricity markets with respect to market monitoring and reserve allocation. We first present new approaches to monitor the level of competition in electricity markets, a critical task for helping the markets function smoothly. The proposed approaches are based on economic principles and a faithful representation of transmission constraints. The effectiveness of the new approaches is demonstrated by examples based on medium- and large-scale electric power systems. We then propose a new system-operation model using stochastic optimization to systematically allocate reserves under uncertainty. This model aims to overcome the difficulties in both system and market operations caused by the integration of wind power, which results in a higher degree of supply uncertainty. The numerical examples suggest that the proposed model significantly lower the operation costs, especially under high levels of wind penetration.
author: Lee, Yen-Yu, 1984-
language: eng
keywords: Electricity markets, Market power, Economic dispatch, Power system operations, Stochastic optimization, Operating reserves
date published: 2012-05
date modified: 2026-07-24T05:01:00Z
provider: University of Texas
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: University of Texas at Austin

PropertyValue
property ID: Handle
value: http://hdl.handle.net/2152/ETD-UT-2012-05-5426