Co-optimization of Reserves in Energy Market to mitigate Congestion

Reserves are extremely important in any competitive electricity market while eliminating congestion, to ensure the security and dependability for an optimal power system operation. Delivery times, transmission constraints, local area requirements, and the efficient utilization of energy and reserve capacity in an emergency state during outage are all factors that must be considered while procuring ancillary services to fulfill the demand. A technique of procurement of reserve services which guarantees the reliability of the system for any contingency event has been revealed in this paper through a 4-bus system where the price of ancillary services on a zonal basis explicitly depict the imports of reserves in a parallel energy market condition.