Date(s) - 29 Apr 2014
1:10 PM - 2:00 PM
2222 Coover Hall
Title: Advanced Modeling and Computational Needs for Electricity Market
Speaker: Yonghong Chen, Principal Advisor, Market Development and Analysis Midcontinent Independent System Operator (MISO)
Abstract: As a Regional Transmission Origination, MISO operates one of the largest energy markets in the world with the footprint covering 15 U.S. states and the Canadian province of Manitoba. The market has brought $8.3 billion to $11.1 billion cumulative savings from 2007 through 2013. With the integration of the south region at the end of 2013, MISO is able to extent the benefit of its market to a larger footprint with its Security Constrained Unit Commitment (SCUC) and Security Constrained Economic Dispatch (SCED) market clearing software. The integration also makes MISO’s SCUC and SCED one of the largest and most complicated market clearing problems in the real world. This talk will start with introducing the current market structure and the deterministic optimization models used in the energy and ancillary service market clearing processes. It will then discuss the key factors contributing to the performance challenges of the models and how MISO is working with the software vendors to address the issues.
The development of the market and the evolution of the industry introduce additional modeling and computational challenges to the existing and future market system. For example, the integration of renewable resources has increased the amount of uncertainties to the market operations. The new and proposed Environmental Protection Agency (EPA) regulations may result in large amount of retirement of coal-fired capacity and the development of new combined cycle resources. We will then discuss some of the research and development activities at MISO to address current and future modeling and computational challenges, including the preliminary study on robust optimization based unit commitment model and the configuration based combined cycle modeling.
Speaker Bio: Yonghong Chen received the B.S from Southeast University, Nanjing, China in 1990, M.S. from Nanjing Automation Research Institute, China in 1993, and Ph.D. from Washington State University, USA in 2001, all in Electrical Engineering. She also has a MBA from Indiana University, Kelly School of Business, USA. She is a Principal Advisor of Market Development and Analysis at MISO where she has been employed since 2002. She was employed with Nanjing Automation Research Institute from 1993-1998 and with Grid South Transco from 2001-2002. In her current role, Dr. Chen is involved in market design, implementation and regulatory compliance of MISO energy and ancillary service market system. She played key roles in the startup of MISO market and involved in the establishment of MISO network and commercial models, the integration of network applications, and the design and implementation of the security constrained economic dispatch, security constrained unit commitment and automatic generation control functions. She also led the integration of the new market resource Stored Energy Resource (SER), the development of a performance based two-part regulation payment (FERC Order 755), and the incorporation of post reserve deployment transmission constraints to improve the deliverability of ancillary service products.