SWING-CONTRACT MARKET OPTIMIZATION: BASE-CASE MILP FORMULATION
Summary
This chapter develops a mixed integer linear programming (MILP) optimization formulation for a base-case ISO-managed swing-contract market M(T). A 5-Bus SC DAM Test Case is reported for an ISO-managed swing-contract day-ahead market (SC DAM). A base-case MILP optimization formulation is used to determine the SCUC/SCED solutions for this test case under a variety of assumptions regarding reserve zones and adaptive reserve-zone updating. The chapter briefly summarizes the key features and results for this test case for treatments in which a single fixed reserve zone is considered. It demonstrates how flexible reserve provision can feasibly be facilitated by permitting reserve offers to take a swing-contract form. However, the base-case swing-contract market assumes a fixed configuration of reserve zones.