Market Scheduling and Pricing for Comprehensive Frequency Regulation Services

The increasing integration of renewable energy sources poses great challenges to the power system frequency security. However, the existing electricity market mechanism lacks integration and incentives for emerging frequency regulation (FR) resources such as wind power generators (WPGs), which may reduce their motivation to provide frequency support and further deteriorate the frequency dynamics. In this paper, a market scheduling and pricing method for comprehensive frequency regulation services (FRSs) is proposed. First, a modeling approach for flexible FR capabilities of WPGs is proposed based on the mechanism of inertia control and power reserve control. Subsequently, considering the differences in inverter control strategies, a novel system frequency response model with grid-following and grid-forming inverters is established. Combined with the automatic generation control, the frequency security constraints of the whole FR process are derived, and integrated into the market scheduling model to co-optimize the energy and FRSs. Finally, by distinguishing the contributions of various types of resources in different FR stages, a differentiated pricing scheme is proposed to incentivize producers with various regulation qualities to provide FRSs. The effectiveness of the proposed method is verified on the modified IEEE 6-bus system and the IEEE RTS-79 system.