A Configuration Based Pumped Storage Hydro Model in MISO Day-Ahead Market

TL;DR

This paper introduces a new configuration-based model for pumped storage hydro units in the MISO day-ahead market, aiming to better utilize PSH resources and improve system flexibility amidst increasing renewable energy integration.

Contribution

It presents a novel, compact optimization model for PSH units in day-ahead markets, enhancing their strategic incorporation and utilization.

Findings

Model is compact and efficient.

Numerical studies demonstrate improved PSH utilization.

Applicable to large-scale power systems.

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.