Reactive power ancillary service markets: design and analysis

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Provision for reactive power support is an important function carried out by the power system operators to maintain the power grid secure and thus avoid blackouts. In the present context of deregulated electricity markets reactive power has to be purchased by the system operators from reactive power providers. The aim of this project is to examine the role of reactive power as an ancillary service and its effect on system and market conditions and operation, from both the system operator's and market participants' perspectives, and develop methods to integrate them within the energy management system functions needed to operate the power grid. We will propose some possible market structures for reactive power and its corresponding payoff mechanisms, and also carried out work to develop optimization models that can help the power system operators decide upon the optimal procurement of reactive power services. This work will be carried out in very close collaboration with a large and well-known industry partner, ABB Inc., and in consultation with the system operators of Ontario.