A Configuration Based Pumped Storage Hydro Model in MISO Day-Ahead Market (2009.04944v1)

Abstract: Pumped storage hydro units (PSHU) can provide flexibility to power systems. This becomes particularly valuable in recent years with the increasing shares of intermittent renewable resources. However, due to emphasis on thermal generation in the current market practices, the flexibility from PSHUs have not been fully explored and utilized. This paper proposes a configuration based pumped storage hydro (PSH) model for the day-ahead market, in order to enhance the use of PSH resources in the system. A strategic design of incorporating and fully optimizing PSHUs in the day-ahead market is presented. We show the compactness of the proposed model. Numerical studies are presented in an illustrative test system and the Midcontinent Independent System Operator (MISO) system.