Day-Ahead Optimal Scheduling of Resources in a Distribution System in Joint Energy, Regulation and Ramp Markets

Publisher Copyright: © 2023 The Authors. Published by Praise Worthy Prize S.r.l.The increasing trend of integrating Renewable Energy Sources (RESs) into power systems could cause operational challenges in the system from flexibility and reliability perspectives. Respectively, utilities would be relied on local flexible resources to address the flexibility requirements in power systems. In this respect, local resources in distribution systems could participate in ancillary markets along with the wholesale energy markets to address the flexibility capacity shortage in the system. Consequently, this paper aims to provide a framework to optimize the scheduling of resources in distribution networks while participating in energy, regulation, and ramp markets. Correspondingly, this approach would maximize the profits of the local resources in distribution systems whereas providing Flexible Ramp Product (FRP) and regulation reserve for the system operators. Respectively, an optimized bidding strategy is developed to maximize the profits of the local resources, while modeling the operational constraints of the distribution grids and power losses to improve the accuracy of the proposed scheme. Furthermore, the chance constrained concept is taken into account in the proposed scheme to model the uncertainty of RESs. Finally, the model is applied on the IEEE-37-bus-test-system and the sensitivity analysis is employed to investigate its effectiveness in the management of the system.Peer reviewe