Value evaluation and price calculation of regulating power for grid constraints in simultaneous market

In recent years, renewable energy integration into the electrical grid has significantly increased. Consequently, adjustments must be made in the electricity market to accommodate this shift. In Japan's current electricity market, grid constraints are often overlooked, raising concerns about potential grid congestion when a substantial amount of renewable energy is introduced. This necessitates the consideration of security-constrained unit commitment (SCUC). In this study, we have devised a plan for SCUC and identified issues related to trading in the current market. Particularly, in the simultaneous market, we have conducted a comprehensive analysis of profit and loss scenarios between unit commitment (UC) and SCUC, focusing on the management of regulating power for grid constraints. The simulation results quantitatively showed the relationship between benefits of the SCUC-based schedules and those of UC-based schedules. By delving into these aspects, we aim to provide valuable insights into optimizing the integration of renewable energy and ensuring grid stability within Japan's evolving electricity market landscape.