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Economic effects of forecasting inaccuracies in the automatic frequency restoration service for the day-ahead energy and reserve scheduling of pumped storage plants

M. Chazarra, J.I. Pérez-Díaz, J. García-González, A. Helseth

The economic effects of forecasting inaccuracies in the automatic frequency restoration service is analyzed in the context of the operation of a closed-loop and daily-cycle pumped-storage hydropower plant. The uncertainties when scheduling the automatic frequency restoration service are composed by the residual demand curves of the day-ahead reserve market, the upward and downward energy prices due to the activation of the reserves, and the percentages of the upward and downward real-time use of the committed reserves. The plant participates in the day-ahead energy market as a price-taker and in the reserve market as a price-maker, in the context of the Iberian electricity system. In addition, the energy due to the real-time use of the committed reserves is also considered. Results show that the profit is significantly more sensitive to forecast inaccuracies of the day-ahead energy market prices than of the prices and real-time use of reserves from the automatic frequency restoration service.


Palabras clave: Pumped-storage plant; Automatic frequency restoration service; Residual reserve curve forecasting; Real-time use of reserves; Value of perfect Information


Electric Power Systems Research. Volumen: 174 Numero: 105850

Índice de impacto JCR y cuartil Scopus: 2.856 - Q1 (2017)

Referencia DOI: DOI icon 10.1016/j.epsr.2019.04.028    

Publicado en papel: Septiembre 2019. Publicado on-line: Mayo 2019.


    Líneas de investigación:
  • Modelos de mercados eléctricos con alta penetración de generación renovable
  • Modelos estratégicos de ofertas
  • Planificación hidrotérmica de corto y medio plazo

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