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Export Reference (APA) 
Greve, T., Teng, F., Pollitt, M. G. & Strbac, G. (2018). A system operator's utility function for the frequency response market. Applied Energy. 231, 562-569
Export Reference (IEEE) 
T. Greve et al.,  "A system operator's utility function for the frequency response market", in Applied Energy, vol. 231, pp. 562-569, 2018
Export BibTeX 
@article{greve2018_1765581428226,
	author = "Greve, T. and Teng, F. and Pollitt, M. G. and Strbac, G.",
	title = "A system operator's utility function for the frequency response market",
	journal = "Applied Energy",
	year = "2018",
	volume = "231",
	number = "",
	doi = "10.1016/j.apenergy.2018.09.088",
	pages = "562-569",
	url = "https://www.sciencedirect.com/science/article/pii/S0306261918313990"
}
Export RIS 
TY  - JOUR
TI  - A system operator's utility function for the frequency response market
T2  - Applied Energy
VL  - 231
AU  - Greve, T.
AU  - Teng, F.
AU  - Pollitt, M. G.
AU  - Strbac, G.
PY  - 2018
SP  - 562-569
SN  - 0306-2619
DO  - 10.1016/j.apenergy.2018.09.088
UR  - https://www.sciencedirect.com/science/article/pii/S0306261918313990
AB  - How can the electricity system operator determine the optimal quantity and quality of electricity ancillary services (such as frequency response) to procure in a market increasingly characterized by intermittent renewable electricity generation? The paper presents a system operator’s utility function to calculate the exchange rates in monetary values between different frequency response products in the electricity system. We then use the utility function in a two-sided Vickrey-Clarke-Groves (VCG) mechanism combined of two frequency response products – enhanced and primary – in the context of the system in Great Britain. This mechanism would allow the market to reveal to the system operator the welfare optimal mix of speed of frequency response and quantity to procure. We show that this mechanism is the efficient way to support new faster sources of frequency response, such as could be provided by grid scale batteries.
ER  -