A survey of frequency and voltage control ancillary services - Part II: Economic features

This two-part paper surveys the frequency and voltage control ancillary services in power systems from various parts of the world. In this second part, essential economic features that must be taken into account when designing markets for ancillary services are first discussed. The methods adopted in eight different systems (Australia, France, Germany, Great Britain, New Zealand, PJM, Spain, and Sweden) for trading frequency and voltage control ancillary services are then compared. Lastly, new indicators for comparing volumes and costs of ancillary services across systems are proposed and calculated for the systems included in this survey. The companion paper surveys the technical features of these ancillary services.