OPF Reserves Results and Pricing

The results of co-optimization of energy and reserves as implemented in Reserve Markets are:

Optimal generation dispatch MW set-points and reserve assignments
Energy locational marginal prices (LMP)
Reserve market clearing prices (RMCP)

The energy locational marginal prices are different than the prices that would be obtained if reserve requirements are not consider. Usually, LMPs are higher in simultaneous energy and reserve optimization. This is due to some generators having to back-off their output to meet reserve control assignments.

As the bus LMP values correspond to the change in operating cost when an additional MW of active power load is served at that bus, the RMCP correspond to the change in operating surplus when an additional MW of a certain type of reserve is required to be provided at that bus. Each area or zone that specifies reserve requirements will have a RMCP. If particular, the RMCP of buses in overlapping zones and areas will be the result of adding the corresponding RMCP associated with each constraint. The bus components of the RMCP can be accessed from the Bus MW Marginal Prices Details page in the OPF Options and Results Dialog. RMCP fields will show up automatically for each constraint type that is binding.