Study on reserve problem in power market

This paper suggests an integral framework of reserve market including the structure and operation mode. The proposed reserve market is cleared according to reserve category hour by hour. The mathematic models of reserve market clearing are given in detail. The object function is maximizing social benefit. The constraints include reliability requirement, the least reserve capacity for each area, the constraints of ramp speed, etc. The numerical example of a real system illustrates that the mathematical model of reserve market can get the maximum benefit of the reserve and satisfy the reliability needs of the system. Both speed and precision of the simulation can meet the requirements in application.