A robust approach to schedule flexible ramp in Real-Time Electricity Market considering Demand Response

Abstract

Penetration of renewable energy resources in power systems and their uncertain natures have caused some challenges in a Real-Time Markets (RTMs) such as price forecasting and balancing issues. Independent System Operator's (ISO's) introduced flexible ramp products in RTMs to overcome this problem. In this paper, a novel method is presented for scheduling flexible ramp requirements in RTM considering Demand Response (DR). In this method, net load uncertainty is modeled using robust optimization (RO) technique in which each period is defined by some scenarios and RO is used to model the uncertainty of each scenario. In order to verify the effectiveness of the method, a typical case study is conducted and the results are compared with the deterministic and stochastic approaches. It is shown that the proposed method is capable of controlling the price spikes and load curtailments.