Optimal Operation of Emerging Flexible Resources Considering Sub-Hourly Flexible Ramp Product

To deal with high variability of stochastic market operations and with the aim of assuring a feasible and economic operation under high renewable energy sources penetration, in this paper two applicable solutions are proposed: 1) the incorporation into the electricity market of emerging flexible resources, including demand response, bulk energy storages, and plug-in electric vehicle parking Lots considering their own specific characteristics; and 2) a new flexible ramp market in order to cope with sudden variations and guarantee the rampability of reserve capacity provided by a generation portfolio. On this basis, an integrated stochastic day-ahead market clearing model has been developed to solve the energy, reserve, and flexible ramp scheduling considering a real-time power balance problem, reflecting the 5 min.-by-5 min. renewable energy source and demand changes. Numerical tests are conducted on a modified IEEE RTS 24-bus and the obtained results validate the applicability of proposed model.