Co-Optimization of Power and Reserves in Dynamic T&D Power Markets With Nondispatchable Renewable Generation and Distributed Energy Resources.

Marginal-cost-based dynamic pricing of electricity services, including real power, reactive power, and reserves, may provide unprecedented efficiencies and system synergies that are pivotal to the sustainability of massive renewable generation integration. Extension of wholesale high-voltage power markets to allow distribution network connected prosumers to participate, albeit desirable, has stall...