Improving electricity market efficiency : from market monitoring to reserve allocation

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.

Name thesis:degree_name

Doctor of Philosophy

Level thesis:degree_level

Doctoral

Discipline thesis:degree_discipline

Electrical and Computer Engineering

Grantor

University of Texas at Austin

Year dc:date.issued

2012

Author dc:creator

• Lee, Yen-Yu, 1984-

Advisor dc:contributor.advisor

• Baldick, Ross

Committee members dc:contributor.committeemember

• Grady, Mack
• Kwasinski, Alexis
• Morton, David P.
• Obadina, Diran
• Wood, Kevin

• Electricity markets
• Market power
• Economic dispatch
• Power system operations
• Stochastic optimization
• Operating reserves

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/2152/ETD-UT-2012-05-5426

OAI identifier oai:identifier

oai:repositories.lib.utexas.edu:2152/ETD-UT-2012-05-5426