Frequency Regulation Market Clearing Strategy Considering Renewable Energy Generation Performance Risks

Renewable energy generation, with the ability of participating in power systems frequency regulation, should be admitted into frequency regulation market to enrich regulatory resources. But the fluctuation and uncertainty of renewable energy generation should be seriously considered in the mechanism of frequency regulation market. This paper presents a new index of renewable energy generation participating in frequency regulation - a performance preciseness Conditional Value at Risk pCVaR as a quantitative expression of renewable energy generation units performance deviation with directive value. Considering this performance preciseness pCVaR, frequency regulation market clearing strategy model is established, which would be excepted to limit the risks of renewable energy generation participating into frequency regulation market. The contrasts of frequency regulation market clearing strategy with pCVaR between without pCVaR are illuminated in simulation cases to show the clearing strategy model presented in this paper effective.