Technical gazette, Vol. 28 No. 1, 2021.
Review article
https://doi.org/10.17559/TV-20200116140048
Managing the Risks of Power System Balancing Considering f-P Control as a Service of the Balancing Market and the Influence of Renewable Energy Sources
Omer Hadžić*
orcid.org/0000-0003-2847-8375
; Independent System Operator in Bosnia and Herzegovina, Board Advisor, Hifzi Bjelevca 17, 71000 Sarajevo, Bosnia & Herzegovina
Zijad Bajramović
; University Sarajevo, Faculty of Electrical Engineering, Electric Power Department, Zmaja od Bosne bb, 71000 Sarajevo, Bosnia & Herzegovina
Sejid Tešnjak
; University of Zagreb, Faculty of Electrical Engineering and Computing, Energy and High Voltage Department, Unska 7, 10000 Zagreb, Croatia
Abstract
The safety of managing the electric power system (EPS) in free, deregulated electricity market solves the problem of techno-economic risks related to operative balancing of the system by taking into consideration one of the ancillary services, that is frequency control and exchange active power (f-P), and contribution of renewable energy sources in a specific surrounding. It is well known that the electricity market derives significant risks for all participants, especially for the transmission system operator (TSO) which is responsible for balancing electricity generation and consumption regardless of their probability, which means they have stochastic nature. Therefore, the main idea is to provide the safety of the system's drive by analysing certain risks related to the problem of balancing the process of electricity generation with the goal: ''maximum safety and minimum risk''. The power trading and ancillary services provision comprise technical and financial risks and therefore require a structured risk management. Focus of this paper is on financial risk management that is important for the system operator faces when providing and using ancillary services for balancing of power system.
Keywords
ancillary services; electricity balancing; electric power system; f-P control; renewable energy; risk management
Hrčak ID:
251561
URI
Publication date:
5.2.2021.
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