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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. 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.
    4. Stephen Johnson, 1967. "Hierarchical clustering schemes," Psychometrika, Springer;The Psychometric Society, vol. 32(3), pages 241-254, September.
    5. 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.
    6. Liu, Haifeng & Tesfatsion, Leigh & Chowdhury, Ali A., 2009. "Derivation of Locational Marginal Prices for Restructured Wholesale Power Markets," ISU General Staff Papers 200901010800001390, Iowa State University, Department of Economics.
    7. 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.
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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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