OPF Reserves Objective Function

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The power system should operate exceeding level of the different types of reserves. The benefit associated with a reserve type is equal to the reserve consumer surplus (area below the reserve demand curve and above the equilibrium RMCP). In order to provide reserve, some generators will need to reduce their output to make room for the assigned reserve level. Thus in general, meeting the reserve requirements will result in increased energy prices. In Simulator, the OPF reserves problem is solved using an application of sequential linear programming embedded in the OPF solver. The LP problem consists in maximizing total surplus:

Total Surplus = Benefit - Costs

Where the benefits include:

• Up Regulation Reserve Surplus
• Down Regulation Reserve Surplus
• Contingency Reserve Surplus
• Operating Reserve Surplus

And the costs include:

• Up Regulation Reserve Cost
• Down Regulation Reserve Cost
• Spinning Reserve Cost
• Supplemental Reserve Cost