Currently,both regulated and deregulated power trading exist in China’s power system,which has caused imbalanced funds in the electricity market.In this paper,a simulation analysis of the electricity market with wind...Currently,both regulated and deregulated power trading exist in China’s power system,which has caused imbalanced funds in the electricity market.In this paper,a simulation analysis of the electricity market with wind energy resources is conducted,and the calculation methods of unbalanced funds are investigated systematically.In detail,the calculation formulas of unbalanced funds are illustrated based on their definition,and a two-track electricity market clearing model is established.Firstly,the concept of the dual-track system is explained,and the specific calculation formulas of various types of unbalanced funds are provided.Next,considering the renewable energy consumption,the market clearing model based on DC power flow is constructed and solved;by combining fitting methods of mid-and long-term curves,the unbalanced funds are calculated based on clearing results and formulas.展开更多
As the Chinese government proposes ambitious plans to promote low-carbon transition,energy storage will play a pivotal role in China’s future power system.However,due to the lack of a mature electricity market enviro...As the Chinese government proposes ambitious plans to promote low-carbon transition,energy storage will play a pivotal role in China’s future power system.However,due to the lack of a mature electricity market environment and corresponding mechanisms,current energy storage in China faces problems such as unclear operational models,insufficient cost recovery mechanisms,and a single investment entity,making it difficult to support the rapid development of the energy storage industry.In contrast,European and American countries have already embarked on certain practices in energy storage operation models.Through exploration of key issues such as investment entities,market participation forms,and cost recovery channels in both front and back markets,a wealth of mature experiences has been accumulated.Therefore,this paper first summarizes the existing practices of energy storage operation models in North America,Europe,and Australia’s electricity markets separately from front and back markets,finding that perfect market mechanisms and reasonable subsidy policies are among the main drivers for promoting the rapid development of energy storage markets.Subsequently,combined with the actual development of China’s electricity market,it explores three key issues affecting the construction of costsharing mechanisms for energy storage under market conditions:Market participation forms,investment and operation modes,and cost recovery mechanisms.Finally,in line with the development expectations of China’s future electricitymarket,suggestions are proposed fromfour aspects:Market environment construction,electricity price formation mechanism,cost sharing path,and policy subsidy mechanism,to promote the healthy and rapid development of China’s energy storage industry.展开更多
In this paper,a day-ahead electricity market bidding problem with multiple strategic generation company(GEN-CO)bidders is studied.The problem is formulated as a Markov game model,where GENCO bidders interact with each...In this paper,a day-ahead electricity market bidding problem with multiple strategic generation company(GEN-CO)bidders is studied.The problem is formulated as a Markov game model,where GENCO bidders interact with each other to develop their optimal day-ahead bidding strategies.Considering unobservable information in the problem,a model-free and data-driven approach,known as multi-agent deep deterministic policy gradient(MADDPG),is applied for approximating the Nash equilibrium(NE)in the above Markov game.The MAD-DPG algorithm has the advantage of generalization due to the automatic feature extraction ability of the deep neural networks.The algorithm is tested on an IEEE 30-bus system with three competitive GENCO bidders in both an uncongested case and a congested case.Comparisons with a truthful bidding strategy and state-of-the-art deep reinforcement learning methods including deep Q network and deep deterministic policy gradient(DDPG)demonstrate that the applied MADDPG algorithm can find a superior bidding strategy for all the market participants with increased profit gains.In addition,the comparison with a conventional-model-based method shows that the MADDPG algorithm has higher computational efficiency,which is feasible for real-world applications.展开更多
With the increasing proportion of renewable energy in the power market,the demands on government financial subsidies are gradually increasing.Thus,a joint green certificate-carbon emission right-electricity multi-mark...With the increasing proportion of renewable energy in the power market,the demands on government financial subsidies are gradually increasing.Thus,a joint green certificate-carbon emission right-electricity multi-market trading process is proposed to study the market-based strategy for renewable energy.Considering the commodity characteristics of green certificates and carbon emission rights,the dynamic cost models of green certificates and carbon rights are constructed based on the Rubinstein game and ladder pricing models.Furthermore,considering the irrational bidding behavior of energy suppliers in the actual electricity market,an evolutionary game based multi-market bidding optimization model is presented.Subsequently,it is solved using a composite differential evolutionary algorithm.Finally,the case study results reveal that the proposed model can increase profits and the consumption rate of renewable energy and reduce carbon emission.展开更多
The high overlap of participants in the carbon emissions trading and electricity markets couples the operations of the two markets.The carbon emission cost(CEC)of coal-fired units becomes part of the power generation ...The high overlap of participants in the carbon emissions trading and electricity markets couples the operations of the two markets.The carbon emission cost(CEC)of coal-fired units becomes part of the power generation cost through market coupling.The accuracy of CEC calculation affects the clearing capacity of coal-fired units in the electric power market.Study of carbon–electricity market interaction and CEC calculations is still in its initial stages.This study analyzes the impact of carbon emissions trading and compliance on the operation of the electric power market and defines the cost transmission mode between the carbon emissions trading and electric power markets.A long-period interactive operation simulation mechanism for the carbon–electricity market is established,and operation and trading models of the carbon emissions trading market and electric power market are established.A daily rolling estimation method for the CEC of coal-fired units is proposed,along with the CEC per unit electric quantity of the coal-fired units.The feasibility and effectiveness of the proposed method are verified through an example simulation,and the factors influencing the CEC are analyzed.展开更多
In the context of the joint operation of China’s intra-provincial markets and inter-provincial trading,how to meet the load demand and energy consumption using inter-provincial renewable energy trading is a key probl...In the context of the joint operation of China’s intra-provincial markets and inter-provincial trading,how to meet the load demand and energy consumption using inter-provincial renewable energy trading is a key problem.The combined operation of intra-provincial and inter-provincial markets provides a new way for provincial power companies to optimize and clear the intra-provincial power market,complete the intra-provincial consumption responsibility weight index,and consume renewable energy across provinces and regions.This paper combines power generation and consumption within the province,uses inter-provincial renewable energy trading tomeet the load demand within the province and completes the index of intra-provincial consumption responsibility weights.The intra-provincial market trading and inter-provincial market clearing are respectively taken as the upper and lower levels of the model.Under the two-level electricity market operation framework,the upper-level model aims to minimize the expected total operating cost within the province considering the carbon emission cost and the weight of the consumption responsibility,while the lower-level model aims to minimize the inter-provincial renewable energy purchasing cost.Finally,the influence of inter-provincial transaction mechanism,risk aversion coefficient,voucher price,and responsibility weight on operating cost is analyzed.Simulation is used to verify that the proposed model can meet the requirements of the provincial load power consumption and the consumption responsibility weight index,and promote the consumption of renewable energy.展开更多
This paper proposes a simple and practical approach to model the uncertainty of solar irradiance and determines the optimized day-ahead(DA)schedule of electricity mar-ket.The problem formulation incorporates the power...This paper proposes a simple and practical approach to model the uncertainty of solar irradiance and determines the optimized day-ahead(DA)schedule of electricity mar-ket.The problem formulation incorporates the power output of distributed solar photovoltaic generator(DSPVG)and forecasted load demands with a specified level of certainty.The proposed approach determines the certainty levels of the random variables(solar irradiance and forecasted load demand)from their probability density function curves.In this process of optimization,the energy storage system(ESS)has also been mod-eled based on the fact that the energy stored during low locational marginal price(LMP)periods and dispatched during high LMP periods would strengthen the economy of DA schedule.The objective of the formulated non-linear optimization problem is to maximize the social welfare of market participants,which incorporates the assured generation outputs of DSPVG,subject to real and reactive power balance and transmission capability constraints of the system and charging/dis-charging and energy storage constraints of ESS.The simulation has been performed on the Indian utility 62-bus system.The results are presented with a large number of cases to demonstrate the effectiveness of the proposed approach for the efficient,economic and reliable operation of DA electricity markets.展开更多
Natural gas-fired electricity(NGFE) is expected to play a more important role in the future due to its characteristics of low pollution, high efficiency and flexibility. However, its development in China is impeded by...Natural gas-fired electricity(NGFE) is expected to play a more important role in the future due to its characteristics of low pollution, high efficiency and flexibility. However, its development in China is impeded by its high regulation price compared with coal power. Market reform is therefore of vital importance to promote the penetration of NGFE. The objective of this study is to analyze the impacts of market reform and the renewable electricity(RE) subsidy policy on the promotion of NGFE and RE. A dynamic game-theoretic model is developed to analyze the interaction among the NG supplier, the power sector and the power grid. Three scenarios are proposed with different policies, including a fixed regulation price of NG and electricity, real-time pricing(RTP) of NG and electricity, and subsidy targeted at RE. The results show that:(1) market reform can sharply decrease the NG price and consequently promote the development of NGFE and RE;(2) subsidy targeted at RE not only promotes the penetration of NGFE and RE, but also increases the utilization ratio of renewables significantly;(3) market reform and the subsidy also enhance consumers’ welfare by reducing their power consumption expenditure.展开更多
The analysis of a supervision environment is the first step for a company to enter the new electricity market. Transmission and distribution assets are the main investment targets of a company. The overseas power mark...The analysis of a supervision environment is the first step for a company to enter the new electricity market. Transmission and distribution assets are the main investment targets of a company. The overseas power market belongs to the regulated industry;whether it is a stock M&A project or a green land bidding project, the regulatory environment determines the assets. The level of return and investment risk that guides the operation strategy of existing overseas assets, has a significant impact on the investment and operations of international companies. A comprehensive and rapid assessment of the regulatory environment can help the project teams of international companies understand the macroenvironment of the target electricity market within a short period, quickly identify investment risks, qualitatively analyze the return level of the underlying assets, shorten the decision time, capture investment opportunities, and enhance the team. Efficiency and quality of work are factors of great importance.展开更多
Decarbonization of the electricity sector is crucial to mitigate the impacts of climate change and global warming over the coming decades.The key challenges for achieving this goal are carbon emission trading and elec...Decarbonization of the electricity sector is crucial to mitigate the impacts of climate change and global warming over the coming decades.The key challenges for achieving this goal are carbon emission trading and electricity sector regulation,which are also the major components of the carbon and electricity markets,respectively.In this paper,a joint electricity and carbon market model is proposed to investigate the relationships between electricity price,carbon price,and electricity generation capacity,thereby identifying pathways toward a renewable energy transition under the transactional energy interconnection framework.The proposed model is a dynamically iterative optimization model consisting of upper-level and lower-level models.The upper-level model optimizes power generation and obtains the electricity price,which drives the lower-level model to update the carbon price and electricity generation capacity.The proposed model is verified using the Northeast Asia power grid.The results show that increasing carbon price will result in increased electricity price,along with further increases in renewable energy generation capacity in the following period.This increase in renewable energy generation will reduce reliance on carbon-emitting energy sources,and hence the carbon price will decline.Moreover,the interconnection among zones in the Northeast Asia power grid will enable reasonable allocation of zonal power generation.Carbon capture and storage (CCS) will be an effective technology to reduce the carbon emissions and further realize the emission reduction targets in 2030-2050.It eases the stress of realizing the energy transition because of the less urgency to install additional renewable energy capacity.展开更多
Renewable energy,such as wind and solar energy,may vary signifi cantly over time and locations depending on the weather and the climate conditions.This leads to the supply uncertainty in the electricity(power) market ...Renewable energy,such as wind and solar energy,may vary signifi cantly over time and locations depending on the weather and the climate conditions.This leads to the supply uncertainty in the electricity(power) market with renewable energy integrated to power grid.In this paper,electricity in the market is classified into two types:stablesupply electricity(SSE) and unstablesupply electricity(USE).We investigate the investment and pricing strategies under the electricity supply uncertainty in wholesale and retail electricity market.In particular,our model combines the wholesale and retail market and capture the dominant players,i.e.,consumers,power plant(power operator),and electricity supplier.To derive the market behaviors of these players,we formulate the market decision problems as a multistage Stackelberg game.By solving the game model,we obtain the optimal,with closedform,wholesale investment and retail pricing strategy for the operator.We also obtain the energy supplier's best price mechanism numerically under certain assumption.We fi nd the price of SSE being about 1.4 times higher than that of USE will benefi t energy supplieroptimally,under which power plant's optimal strategy of investing is to purchase USE about 4.5 times much more than SSE.展开更多
Electricity price forecasting has become an important aspect of promoting competition and safeguarding the interests of participants in electricity market. As market participants, both producers and consumers intent t...Electricity price forecasting has become an important aspect of promoting competition and safeguarding the interests of participants in electricity market. As market participants, both producers and consumers intent to contribute more efforts on developing appropriate price forecasting scheme to maximize their profits. This paper introduces a time series method developed by Box-Jenkins that applies autoregressive integrated moving average (ARIMA) model to address a best-fitted time-domain model based on a time series of historical price data. Using the model’s parameters determined from the stationarized time series of prices, the price forecasts in UK electricity market for 1 step ahead are estimated in the next day and the next week. The most suitable models are selected for them separately after comparing their prediction outcomes. The data of historical prices are obtained from UK three-month Reference Price Data from April 1st to July7th 2010.展开更多
Recently, the distributed generator (DG) has been successfully studied and applied in distribution system at many countries around the world. Many planning models of the DG integrated distribution system have been pro...Recently, the distributed generator (DG) has been successfully studied and applied in distribution system at many countries around the world. Many planning models of the DG integrated distribution system have been proposed. These models can choose the optimization locations, capacities and technologies of DG with the objective function minimizing power loss, investment costs or total life cycle costs of the investment project. However, capacity of DG that uses renewable energy resources is natural variability according to primary energy. This study proposed a planning model of optimized distribution system that integrates DG in the competitive electricity market. Model can determine equipment sizing and timeframe requiring for upgrading equipment of distribution system as well as select DG technologies with power variable constraints of DG. The objective function is minimizing total life cycle cost of the investment project. The proposed model is calculated and tested for a 48-bus radial distribution system in the GAMS programming language.展开更多
Value at risk (VaR) is adopted to measure the risk level in the electricity market. To estimate VaR at higher accuracy and reliability, the wavelet variance decomposed approach for value at risk estimates (WVDVaR) is ...Value at risk (VaR) is adopted to measure the risk level in the electricity market. To estimate VaR at higher accuracy and reliability, the wavelet variance decomposed approach for value at risk estimates (WVDVaR) is proposed. Empirical studies conduct in five Australian electricity markets, which evaluate the performances of both the proposed approach and the traditional ARMA-GARCH approach using the Kupiec backtesting procedure. Experimental results suggest that the proposed approach measures electricity market risks at higher accuracy and reliability than the bench mark ARMA-GARCH approach, as indicated by the higher p values during the Kupiec backtesting procedure. In addition, the new approach also provides more insight into the risk evolution process over time and helps in adjusting VaR estimates to the time horizons that best suit investor interests. The distribution of risk according to investor preferences is shown by decomposing VaR across different time horizons. This also provides important information for the appropriate aggregation of risk measures based on investor investment preferences.展开更多
To achieve the target for building a low-carbon economy, the UK will have to build more low-carbon power plants to reduce carbon dioxide emissions from electricity generation. However, renewable energy is difficult to...To achieve the target for building a low-carbon economy, the UK will have to build more low-carbon power plants to reduce carbon dioxide emissions from electricity generation. However, renewable energy is difficult to meet the increasing energy demand and keep lights on. This limitation of renewable could be solved by coal and gas-fired power station fitted with carbon capture storage (CCS) technology. CCS technology could capture up to 90% of carbon dioxide from emissions and allow fossil fuel power station to provide continuous low-carbon electricity power. This paper presents the levelised cost of electricity of CCGT with CCS and compared with renewable technology to forecast the impact of CCGT with CCS on the UK’s electricity market.展开更多
The electricity retail markets are evolving toward more competitive and customer-oriented. The deployment of smart meters and a wealth of new technologies create customers＇ eagerness for taking control of their elect...The electricity retail markets are evolving toward more competitive and customer-oriented. The deployment of smart meters and a wealth of new technologies create customers＇ eagerness for taking control of their electricity consumption. By being better-informed about the energy usage, people are encouraged to switch deals among existing suppliers or move to a new energy provider. Moreover, as customers are more socially interconnected, the Internet portals and social media become a place for discussion, comparison, and evaluation of the available offers. Unfortunately, in case of the energy sector there is a lack of understanding that such information, when taken into account and properly analyzed, can be a completely new and a powerful source of competitive advantage. In the paper, we introduce a solution that the use of quasi real-time automated sentiment analysis on the energy suppliers and the relevant aspects of their offers may enable energy companies to adapt quickly to changing circumstances, prevent potential customer churn, and harness new business opportunities.展开更多
In power market, electricity price forecasting provides significant information which can help the electricity market participants to prepare corresponding bidding strategies to maximize their profits. This paper intr...In power market, electricity price forecasting provides significant information which can help the electricity market participants to prepare corresponding bidding strategies to maximize their profits. This paper introduces the models of autoregressive integrated moving average (ARIMA) and artificial neural network (ANN) which are applied to the price forecasts for up to 3 steps 8 weeks ahead in the UK electricity market. The half hourly data of historical prices are obtained from UK Reference Price Data from March 22nd to July 14th 2010 and the predictions are derived from a sliding training window with a length of 8 weeks. The ARIMA with various AR and MA orders and the ANN with different numbers of delays and neurons have been established and compared in terms of the root mean square errors (RMSEs) of price forecasts. The experimental results illustrate that the ARIMA (4,1,2) model gives greater improvement over persistence than the ANN (20 neurons, 4 delays) model.展开更多
Bilateral trading in electricity is one of the typical deregulated power market trading methods and it has its own way to calculate and allocate congestion cost. In this paper, using as a practical bilateral structure...Bilateral trading in electricity is one of the typical deregulated power market trading methods and it has its own way to calculate and allocate congestion cost. In this paper, using as a practical bilateral structure example, the British electricity market is stated in details especially the operation mechanism and the methodology of imbalance settlement. A corresponding congestion cost allocation method for bilateral market is introduced briefly by equations and is simulated in a modified IEEE-14 bus model to investigate its pros and cons.展开更多
In Synergetics, when a complex system evolves from one sate to another, the order parameter plays a dominant role. We can analyze the complex system state by studying the dynamic of order parameter. We developed a syn...In Synergetics, when a complex system evolves from one sate to another, the order parameter plays a dominant role. We can analyze the complex system state by studying the dynamic of order parameter. We developed a synergetic model of electricity market operation system, and studied the dynamic process of the system with empirical example, which revealed the internal mechanism of the system evolution. In order to verify the accuracy of the synergetic model, fourth-order Runge-Kutta algorithm and grey relevance method were used. Finally, we found that the reserve rate of generation was the order parameter of the system. Then we can use the principle of Synergetics to evaluate the efficiency of electricity market operation.展开更多
In the United States, emission regulations are enacted at a state level;individual states are allowed to define what methods they will use to mitigate their carbon emissions. The consequence of this is especially inte...In the United States, emission regulations are enacted at a state level;individual states are allowed to define what methods they will use to mitigate their carbon emissions. The consequence of this is especially interesting in the state of Texas where new legislation has created a “deregulated” electricity market in which end-users are capable of choosing their electricity provider and subsequently the type of electricity they wish to consume (generated by fossil fuels or renewable sources). In this paper we analyze the effects of carbon tax on the development of renewable generation capacity at the utility level while taking into account expected adoption of rooftop PV systems by individual consumers using agent based modeling techniques. Monte Carlo simulations show carbon abatement trends and proffer updated renewable portfolio standards at various levels of likelihood.展开更多
基金supported by the National Natural Science Foundation of China(No.52207104)China Postdoctoral Science Foundation(No.2022M711202).
文摘Currently,both regulated and deregulated power trading exist in China’s power system,which has caused imbalanced funds in the electricity market.In this paper,a simulation analysis of the electricity market with wind energy resources is conducted,and the calculation methods of unbalanced funds are investigated systematically.In detail,the calculation formulas of unbalanced funds are illustrated based on their definition,and a two-track electricity market clearing model is established.Firstly,the concept of the dual-track system is explained,and the specific calculation formulas of various types of unbalanced funds are provided.Next,considering the renewable energy consumption,the market clearing model based on DC power flow is constructed and solved;by combining fitting methods of mid-and long-term curves,the unbalanced funds are calculated based on clearing results and formulas.
基金supported financially by State Grid Henan Electric Power Company Technology Project“Research on System Cost Impact Assessment and Sharing Mechanism under the Rapid Development of Distributed Photovoltaics”(Grant Number:5217L0220021).
文摘As the Chinese government proposes ambitious plans to promote low-carbon transition,energy storage will play a pivotal role in China’s future power system.However,due to the lack of a mature electricity market environment and corresponding mechanisms,current energy storage in China faces problems such as unclear operational models,insufficient cost recovery mechanisms,and a single investment entity,making it difficult to support the rapid development of the energy storage industry.In contrast,European and American countries have already embarked on certain practices in energy storage operation models.Through exploration of key issues such as investment entities,market participation forms,and cost recovery channels in both front and back markets,a wealth of mature experiences has been accumulated.Therefore,this paper first summarizes the existing practices of energy storage operation models in North America,Europe,and Australia’s electricity markets separately from front and back markets,finding that perfect market mechanisms and reasonable subsidy policies are among the main drivers for promoting the rapid development of energy storage markets.Subsequently,combined with the actual development of China’s electricity market,it explores three key issues affecting the construction of costsharing mechanisms for energy storage under market conditions:Market participation forms,investment and operation modes,and cost recovery mechanisms.Finally,in line with the development expectations of China’s future electricitymarket,suggestions are proposed fromfour aspects:Market environment construction,electricity price formation mechanism,cost sharing path,and policy subsidy mechanism,to promote the healthy and rapid development of China’s energy storage industry.
基金This work was supported in part by the US Department of Energy(DOE),Office of Electricity and Office of Energy Efficiency and Renewable Energy under contract DE-AC05-00OR22725in part by CURENT,an Engineering Research Center funded by US National Science Foundation(NSF)and DOE under NSF award EEC-1041877in part by NSF award ECCS-1809458.
文摘In this paper,a day-ahead electricity market bidding problem with multiple strategic generation company(GEN-CO)bidders is studied.The problem is formulated as a Markov game model,where GENCO bidders interact with each other to develop their optimal day-ahead bidding strategies.Considering unobservable information in the problem,a model-free and data-driven approach,known as multi-agent deep deterministic policy gradient(MADDPG),is applied for approximating the Nash equilibrium(NE)in the above Markov game.The MAD-DPG algorithm has the advantage of generalization due to the automatic feature extraction ability of the deep neural networks.The algorithm is tested on an IEEE 30-bus system with three competitive GENCO bidders in both an uncongested case and a congested case.Comparisons with a truthful bidding strategy and state-of-the-art deep reinforcement learning methods including deep Q network and deep deterministic policy gradient(DDPG)demonstrate that the applied MADDPG algorithm can find a superior bidding strategy for all the market participants with increased profit gains.In addition,the comparison with a conventional-model-based method shows that the MADDPG algorithm has higher computational efficiency,which is feasible for real-world applications.
基金supported by the National Key R&D Program of China(2017YFB0902200).
文摘With the increasing proportion of renewable energy in the power market,the demands on government financial subsidies are gradually increasing.Thus,a joint green certificate-carbon emission right-electricity multi-market trading process is proposed to study the market-based strategy for renewable energy.Considering the commodity characteristics of green certificates and carbon emission rights,the dynamic cost models of green certificates and carbon rights are constructed based on the Rubinstein game and ladder pricing models.Furthermore,considering the irrational bidding behavior of energy suppliers in the actual electricity market,an evolutionary game based multi-market bidding optimization model is presented.Subsequently,it is solved using a composite differential evolutionary algorithm.Finally,the case study results reveal that the proposed model can increase profits and the consumption rate of renewable energy and reduce carbon emission.
基金supported by Anhui Provincial Natural Science Foundation(No.2208085UD02)National Natural Science Foundation of China(No.52077061).
文摘The high overlap of participants in the carbon emissions trading and electricity markets couples the operations of the two markets.The carbon emission cost(CEC)of coal-fired units becomes part of the power generation cost through market coupling.The accuracy of CEC calculation affects the clearing capacity of coal-fired units in the electric power market.Study of carbon–electricity market interaction and CEC calculations is still in its initial stages.This study analyzes the impact of carbon emissions trading and compliance on the operation of the electric power market and defines the cost transmission mode between the carbon emissions trading and electric power markets.A long-period interactive operation simulation mechanism for the carbon–electricity market is established,and operation and trading models of the carbon emissions trading market and electric power market are established.A daily rolling estimation method for the CEC of coal-fired units is proposed,along with the CEC per unit electric quantity of the coal-fired units.The feasibility and effectiveness of the proposed method are verified through an example simulation,and the factors influencing the CEC are analyzed.
基金supported by National Natural Science Foundation of China (51977127)Shanghai Municipal Science and Technology Commission (19020500800)“Shuguang Program” (20SG52)Shanghai Education Development Foundation and Shanghai Municipal Education Commission.
文摘In the context of the joint operation of China’s intra-provincial markets and inter-provincial trading,how to meet the load demand and energy consumption using inter-provincial renewable energy trading is a key problem.The combined operation of intra-provincial and inter-provincial markets provides a new way for provincial power companies to optimize and clear the intra-provincial power market,complete the intra-provincial consumption responsibility weight index,and consume renewable energy across provinces and regions.This paper combines power generation and consumption within the province,uses inter-provincial renewable energy trading tomeet the load demand within the province and completes the index of intra-provincial consumption responsibility weights.The intra-provincial market trading and inter-provincial market clearing are respectively taken as the upper and lower levels of the model.Under the two-level electricity market operation framework,the upper-level model aims to minimize the expected total operating cost within the province considering the carbon emission cost and the weight of the consumption responsibility,while the lower-level model aims to minimize the inter-provincial renewable energy purchasing cost.Finally,the influence of inter-provincial transaction mechanism,risk aversion coefficient,voucher price,and responsibility weight on operating cost is analyzed.Simulation is used to verify that the proposed model can meet the requirements of the provincial load power consumption and the consumption responsibility weight index,and promote the consumption of renewable energy.
文摘This paper proposes a simple and practical approach to model the uncertainty of solar irradiance and determines the optimized day-ahead(DA)schedule of electricity mar-ket.The problem formulation incorporates the power output of distributed solar photovoltaic generator(DSPVG)and forecasted load demands with a specified level of certainty.The proposed approach determines the certainty levels of the random variables(solar irradiance and forecasted load demand)from their probability density function curves.In this process of optimization,the energy storage system(ESS)has also been mod-eled based on the fact that the energy stored during low locational marginal price(LMP)periods and dispatched during high LMP periods would strengthen the economy of DA schedule.The objective of the formulated non-linear optimization problem is to maximize the social welfare of market participants,which incorporates the assured generation outputs of DSPVG,subject to real and reactive power balance and transmission capability constraints of the system and charging/dis-charging and energy storage constraints of ESS.The simulation has been performed on the Indian utility 62-bus system.The results are presented with a large number of cases to demonstrate the effectiveness of the proposed approach for the efficient,economic and reliable operation of DA electricity markets.
基金supported by Science Foundation of China University of Petroleum,Beijing(Nos.2462013YJRC015,2462014YJRC036)supported by Ministry of Education in China(MOE)Project of Humanities and Social Sciences(Project No.15YJC630195)
文摘Natural gas-fired electricity(NGFE) is expected to play a more important role in the future due to its characteristics of low pollution, high efficiency and flexibility. However, its development in China is impeded by its high regulation price compared with coal power. Market reform is therefore of vital importance to promote the penetration of NGFE. The objective of this study is to analyze the impacts of market reform and the renewable electricity(RE) subsidy policy on the promotion of NGFE and RE. A dynamic game-theoretic model is developed to analyze the interaction among the NG supplier, the power sector and the power grid. Three scenarios are proposed with different policies, including a fixed regulation price of NG and electricity, real-time pricing(RTP) of NG and electricity, and subsidy targeted at RE. The results show that:(1) market reform can sharply decrease the NG price and consequently promote the development of NGFE and RE;(2) subsidy targeted at RE not only promotes the penetration of NGFE and RE, but also increases the utilization ratio of renewables significantly;(3) market reform and the subsidy also enhance consumers’ welfare by reducing their power consumption expenditure.
基金supported by National Key Research and Development Program of China (2018YFB0904000)。
文摘The analysis of a supervision environment is the first step for a company to enter the new electricity market. Transmission and distribution assets are the main investment targets of a company. The overseas power market belongs to the regulated industry;whether it is a stock M&A project or a green land bidding project, the regulatory environment determines the assets. The level of return and investment risk that guides the operation strategy of existing overseas assets, has a significant impact on the investment and operations of international companies. A comprehensive and rapid assessment of the regulatory environment can help the project teams of international companies understand the macroenvironment of the target electricity market within a short period, quickly identify investment risks, qualitatively analyze the return level of the underlying assets, shorten the decision time, capture investment opportunities, and enhance the team. Efficiency and quality of work are factors of great importance.
基金supported in part by National Key Research and Development Program of China(2016YFB0901900)the Science and Technology Foundation of GEIDCO(SGGEIG00JYJS1900016)
文摘Decarbonization of the electricity sector is crucial to mitigate the impacts of climate change and global warming over the coming decades.The key challenges for achieving this goal are carbon emission trading and electricity sector regulation,which are also the major components of the carbon and electricity markets,respectively.In this paper,a joint electricity and carbon market model is proposed to investigate the relationships between electricity price,carbon price,and electricity generation capacity,thereby identifying pathways toward a renewable energy transition under the transactional energy interconnection framework.The proposed model is a dynamically iterative optimization model consisting of upper-level and lower-level models.The upper-level model optimizes power generation and obtains the electricity price,which drives the lower-level model to update the carbon price and electricity generation capacity.The proposed model is verified using the Northeast Asia power grid.The results show that increasing carbon price will result in increased electricity price,along with further increases in renewable energy generation capacity in the following period.This increase in renewable energy generation will reduce reliance on carbon-emitting energy sources,and hence the carbon price will decline.Moreover,the interconnection among zones in the Northeast Asia power grid will enable reasonable allocation of zonal power generation.Carbon capture and storage (CCS) will be an effective technology to reduce the carbon emissions and further realize the emission reduction targets in 2030-2050.It eases the stress of realizing the energy transition because of the less urgency to install additional renewable energy capacity.
基金supported in part by the National Natural Science Foundation of China(NSFC)No.61372116 and NSFC No.61201202 and NSFC No.61320001the Importation and Development of High-Caliber Talents Project of Beijing Municipal Institutions under Grant YETP0110
文摘Renewable energy,such as wind and solar energy,may vary signifi cantly over time and locations depending on the weather and the climate conditions.This leads to the supply uncertainty in the electricity(power) market with renewable energy integrated to power grid.In this paper,electricity in the market is classified into two types:stablesupply electricity(SSE) and unstablesupply electricity(USE).We investigate the investment and pricing strategies under the electricity supply uncertainty in wholesale and retail electricity market.In particular,our model combines the wholesale and retail market and capture the dominant players,i.e.,consumers,power plant(power operator),and electricity supplier.To derive the market behaviors of these players,we formulate the market decision problems as a multistage Stackelberg game.By solving the game model,we obtain the optimal,with closedform,wholesale investment and retail pricing strategy for the operator.We also obtain the energy supplier's best price mechanism numerically under certain assumption.We fi nd the price of SSE being about 1.4 times higher than that of USE will benefi t energy supplieroptimally,under which power plant's optimal strategy of investing is to purchase USE about 4.5 times much more than SSE.
文摘Electricity price forecasting has become an important aspect of promoting competition and safeguarding the interests of participants in electricity market. As market participants, both producers and consumers intent to contribute more efforts on developing appropriate price forecasting scheme to maximize their profits. This paper introduces a time series method developed by Box-Jenkins that applies autoregressive integrated moving average (ARIMA) model to address a best-fitted time-domain model based on a time series of historical price data. Using the model’s parameters determined from the stationarized time series of prices, the price forecasts in UK electricity market for 1 step ahead are estimated in the next day and the next week. The most suitable models are selected for them separately after comparing their prediction outcomes. The data of historical prices are obtained from UK three-month Reference Price Data from April 1st to July7th 2010.
文摘Recently, the distributed generator (DG) has been successfully studied and applied in distribution system at many countries around the world. Many planning models of the DG integrated distribution system have been proposed. These models can choose the optimization locations, capacities and technologies of DG with the objective function minimizing power loss, investment costs or total life cycle costs of the investment project. However, capacity of DG that uses renewable energy resources is natural variability according to primary energy. This study proposed a planning model of optimized distribution system that integrates DG in the competitive electricity market. Model can determine equipment sizing and timeframe requiring for upgrading equipment of distribution system as well as select DG technologies with power variable constraints of DG. The objective function is minimizing total life cycle cost of the investment project. The proposed model is calculated and tested for a 48-bus radial distribution system in the GAMS programming language.
基金The National Social Science Foundation of China (No.07AJL005)the Foundation of City University of Hong Kong (No.9610058)
文摘Value at risk (VaR) is adopted to measure the risk level in the electricity market. To estimate VaR at higher accuracy and reliability, the wavelet variance decomposed approach for value at risk estimates (WVDVaR) is proposed. Empirical studies conduct in five Australian electricity markets, which evaluate the performances of both the proposed approach and the traditional ARMA-GARCH approach using the Kupiec backtesting procedure. Experimental results suggest that the proposed approach measures electricity market risks at higher accuracy and reliability than the bench mark ARMA-GARCH approach, as indicated by the higher p values during the Kupiec backtesting procedure. In addition, the new approach also provides more insight into the risk evolution process over time and helps in adjusting VaR estimates to the time horizons that best suit investor interests. The distribution of risk according to investor preferences is shown by decomposing VaR across different time horizons. This also provides important information for the appropriate aggregation of risk measures based on investor investment preferences.
文摘To achieve the target for building a low-carbon economy, the UK will have to build more low-carbon power plants to reduce carbon dioxide emissions from electricity generation. However, renewable energy is difficult to meet the increasing energy demand and keep lights on. This limitation of renewable could be solved by coal and gas-fired power station fitted with carbon capture storage (CCS) technology. CCS technology could capture up to 90% of carbon dioxide from emissions and allow fossil fuel power station to provide continuous low-carbon electricity power. This paper presents the levelised cost of electricity of CCGT with CCS and compared with renewable technology to forecast the impact of CCGT with CCS on the UK’s electricity market.
基金supported by the HPI Future SOC Lab and Tableau Software
文摘The electricity retail markets are evolving toward more competitive and customer-oriented. The deployment of smart meters and a wealth of new technologies create customers＇ eagerness for taking control of their electricity consumption. By being better-informed about the energy usage, people are encouraged to switch deals among existing suppliers or move to a new energy provider. Moreover, as customers are more socially interconnected, the Internet portals and social media become a place for discussion, comparison, and evaluation of the available offers. Unfortunately, in case of the energy sector there is a lack of understanding that such information, when taken into account and properly analyzed, can be a completely new and a powerful source of competitive advantage. In the paper, we introduce a solution that the use of quasi real-time automated sentiment analysis on the energy suppliers and the relevant aspects of their offers may enable energy companies to adapt quickly to changing circumstances, prevent potential customer churn, and harness new business opportunities.
文摘In power market, electricity price forecasting provides significant information which can help the electricity market participants to prepare corresponding bidding strategies to maximize their profits. This paper introduces the models of autoregressive integrated moving average (ARIMA) and artificial neural network (ANN) which are applied to the price forecasts for up to 3 steps 8 weeks ahead in the UK electricity market. The half hourly data of historical prices are obtained from UK Reference Price Data from March 22nd to July 14th 2010 and the predictions are derived from a sliding training window with a length of 8 weeks. The ARIMA with various AR and MA orders and the ANN with different numbers of delays and neurons have been established and compared in terms of the root mean square errors (RMSEs) of price forecasts. The experimental results illustrate that the ARIMA (4,1,2) model gives greater improvement over persistence than the ANN (20 neurons, 4 delays) model.
文摘Bilateral trading in electricity is one of the typical deregulated power market trading methods and it has its own way to calculate and allocate congestion cost. In this paper, using as a practical bilateral structure example, the British electricity market is stated in details especially the operation mechanism and the methodology of imbalance settlement. A corresponding congestion cost allocation method for bilateral market is introduced briefly by equations and is simulated in a modified IEEE-14 bus model to investigate its pros and cons.
文摘In Synergetics, when a complex system evolves from one sate to another, the order parameter plays a dominant role. We can analyze the complex system state by studying the dynamic of order parameter. We developed a synergetic model of electricity market operation system, and studied the dynamic process of the system with empirical example, which revealed the internal mechanism of the system evolution. In order to verify the accuracy of the synergetic model, fourth-order Runge-Kutta algorithm and grey relevance method were used. Finally, we found that the reserve rate of generation was the order parameter of the system. Then we can use the principle of Synergetics to evaluate the efficiency of electricity market operation.
文摘In the United States, emission regulations are enacted at a state level;individual states are allowed to define what methods they will use to mitigate their carbon emissions. The consequence of this is especially interesting in the state of Texas where new legislation has created a “deregulated” electricity market in which end-users are capable of choosing their electricity provider and subsequently the type of electricity they wish to consume (generated by fossil fuels or renewable sources). In this paper we analyze the effects of carbon tax on the development of renewable generation capacity at the utility level while taking into account expected adoption of rooftop PV systems by individual consumers using agent based modeling techniques. Monte Carlo simulations show carbon abatement trends and proffer updated renewable portfolio standards at various levels of likelihood.
