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An ERCOT test system for market design studies

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  • Battula, Swathi
  • Tesfatsion, Leigh
  • McDermott, Thomas E.

Abstract

An open source test system is developed that permits the dynamic modeling of centrally-managed wholesale power markets operating over high-voltage transmission grids. In default mode, the test system models basic operations in the Electric Reliability Council of Texas (ERCOT): namely, centrally-managed day-ahead and real-time markets operating over successive days, with congestion handled by locational marginal pricing. These basic operational features characterize all seven U.S. energy regions organized as centrally-managed wholesale power markets. Modeled participants include dispatchable generators, load-serving entities, and non-dispatchable generation such as unfirmed wind and solar power. Users can configure a broad variety of parameters to study basic market and grid features under alternative system conditions. Users can also easily extend the test system’s Java/Python software classes to study modified or newly envisioned market and grid features. Finally, the test system is integrated with a high-level simulation framework that permits it to function as a software component within larger systems, such as multi-country systems or integrated transmission and distribution systems. Detailed test cases with 8-bus and 200-bus transmission grids are reported to illustrate these test system capabilities.

Suggested Citation

  • Battula, Swathi & Tesfatsion, Leigh & McDermott, Thomas E., 2020. "An ERCOT test system for market design studies," Applied Energy, Elsevier, vol. 275(C).
    • Handle: RePEc:eee:appene:v:275:y:2020:i:c:s0306261920306942
    DOI: 10.1016/j.apenergy.2020.115182
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    References listed on IDEAS

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    1. Junjie Sun & Leigh Tesfatsion, 2007. "Dynamic Testing of Wholesale Power Market Designs: An Open-Source Agent-Based Framework," Computational Economics, Springer;Society for Computational Economics, vol. 30(3), pages 291-327, October.
    2. Nguyen, Hieu Trung & Battula, Swathi & Takkala, Rohit Reddy & Wang, Zhaoyu & Tesfatsion, Leigh, 2019. "An integrated transmission and distribution test system for evaluation of transactive energy designs," Applied Energy, Elsevier, vol. 240(C), pages 666-679.
    3. Krishnamurthy, Dheepak & Li, Wanning & Tesfatsion, Leigh, 2016. "An 8-Zone Test System Based on ISO New England Data: Development and Application," ISU General Staff Papers 201601010800001449, Iowa State University, Department of Economics.
    4. Liu, Haifeng & Tesfatsion, Leigh S. & Chowdhury, A.A., 2009. "Derivation of Locational Marginal Prices for Restructured Wholesale Power Markets," Staff General Research Papers Archive 13068, Iowa State University, Department of Economics.
    5. Stephen Johnson, 1967. "Hierarchical clustering schemes," Psychometrika, Springer;The Psychometric Society, vol. 32(3), pages 241-254, September.
    6. David P. Chassin & Jason C. Fuller & Ned Djilali, 2014. "GridLAB-D: An Agent-Based Simulation Framework for Smart Grids," Journal of Applied Mathematics, Hindawi, vol. 2014, pages 1-12, June.
    7. Weidlich, Anke & Veit, Daniel, 2008. "A critical survey of agent-based wholesale electricity market models," Energy Economics, Elsevier, vol. 30(4), pages 1728-1759, July.
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    Cited by:

    1. Glismann, Samuel, 2021. "Ancillary Services Acquisition Model: Considering market interactions in policy design," Applied Energy, Elsevier, vol. 304(C).
    2. Antonello Cammarano & Vincenzo Varriale & Francesca Michelino & Mauro Caputo, 2022. "Open and Crowd-Based Platforms: Impact on Organizational and Market Performance," Sustainability, MDPI, vol. 14(4), pages 1-26, February.
    3. Cheng, Rui & Tesfatsion, Leigh & Wang, Zhaoyu, 2021. "A Multiperiod Consensus-Based Transactive Energy System for Unbalanced Distribution Networks," ISU General Staff Papers 202104230700001126, Iowa State University, Department of Economics.
    4. Tesfatsion, Leigh, 2022. "Economics of Grid-Supported Electric Power Markets: A Fundamental Reconsideration," ISU General Staff Papers 202209141325510000, Iowa State University, Department of Economics.

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