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Energies 2016, 9(10), 845; doi:10.3390/en9100845

Cost Analysis Method for Estimating Dynamic Reserve Considering Uncertainties in Supply and Demand

1
Electrical Engineering, Korea Military Academy (KMA), Seoul 01850, Korea
2
Department of Statistics Institute of Engineering Research, Seoul National University, Seoul 08826, Korea
3
Korean Electric Power Corporation (KEPCO), Naju 58217, Korea
4
Department of Electrical and Computer Engineering, Seoul National University, Seoul 08826, Korea
*
Author to whom correspondence should be addressed.
Academic Editor: Paolo Mercorelli
Received: 8 August 2016 / Revised: 30 September 2016 / Accepted: 12 October 2016 / Published: 20 October 2016
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Abstract

The use of appropriate hourly reserve margins can maintain power system security by balancing supply and demand in the presence of errors in the forecast demand, generation outages, or errors in the forecast of wind power generation. Because the cost of unit commitment increases with larger reserve margins, cost analysis to determine the most economical reserve margin is an important issue in power system operation. Here, we define the “short-term reliability of balance” and describe a method to determine the reserve margin based on the short-term reliability of balance. We describe a case study, in which we calculate the reserve margin using this method with various standards of short-term reliability of balance. A cost analysis is then performed to determine the most economic standard, and a comparison between our method and a conventional method is carried out. The results show that our method with an economic short-term reliability of balance enables more reliable and efficient operation of the power system. Moreover, with an hourly reserve margin, we show that an increase in wind power generation can result in a significant decrease in the operating cost, which makes wind power generation economically viable. View Full-Text
Keywords: dynamic reserve; unit commitment; reliability; wind power generation; cost analysis; power system operation; uncertainty; generation outage dynamic reserve; unit commitment; reliability; wind power generation; cost analysis; power system operation; uncertainty; generation outage
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Kwon, K.-B.; Park, H.; Lyu, J.-K.; Park, J.-K. Cost Analysis Method for Estimating Dynamic Reserve Considering Uncertainties in Supply and Demand. Energies 2016, 9, 845.

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