General framework for real-time implementation of balancing services market outcome

Load frequency control (LFC) is widely used for real-time balancing connected power systems. With the deregulation of power system markets, there is a necessity for adapting the current LFC to support market-based operation. In this paper we propose a general balancing tool which covers both, regulated, and deregulated load frequency control. The proposed approach enables implementation of conventional, two-sided markets possible as well as implementation of the integrated markets for balancing reserves, i.e. cooperation in provision of reserves among different control area