Efficiency Loss for Variable Renewable Energy Incurred by Competition in Electricity Markets

Guo, Hongye; Chen, Qixin; Fang, Xichen; Liu, Kai; Xia, Qing; Chen, Kang

doi:10.1109/pesgm41954.2020.9281419

Cited by 2 publications

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“…Meanwhile, for the fully dispatchable generation units, their benefit is independent of the FRS price changes. Comparing the results for half-dispatchable (participants 6-10) and volatile units (participants [11][12][13][14][15][16][17][18][19][20] in Figure 9, it can be found that with the changes of the FRS price, the firm output will help generators secure more benefits. Thus, the proposed mechanism can motivate generators improve the controllability of the generation outputs.…”

Section: Resultsmentioning

confidence: 99%

“…Currently, RE is gradually accepted as a regular power source participating in the power market, so it is essential to supervise and regulate the strategic behaviours of RE generators. In [17], a framework is proposed to analyze the strategic offering behaviors of variable RE generators considering their volatility and uncertainty and analyze the efficiency loss during their participants in power markets. Notably, the uncertainty of the RE outputs is modelled by multiple‐scenario settings, generated by the Monte Carlo method.…”

Section: Introductionmentioning

confidence: 99%

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Spot electricity market design for a power system characterized by high penetration of renewable energy generation

Yang

Wen

Chen

et al. 2021

Energy Conversion and Econom

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The continuous growth of renewable generation in power systems brings serious challenges to electricity markets due to their characteristics different from conventional generation technologies. These challenges come from two dimensions, including short‐term (energy and ancillary service markets) and long‐term (long‐term bilateral and capacity markets) aspects. Under this background, the design of energy and ancillary service markets is studied for power systems with a high penetration level of variable renewable generation. In the proposed spot market mechanism, energy and frequency regulation service (FRS) bids are jointly cleared, where renewable generators are motivated to proactively manage the intermittency and uncertainty of their power outputs. The proposed market mechanism can also ensure the adequacy of FRS capacity for compensating variability of renewables. Besides, in order to ensure the execution of spot market clearing outcomes, this paper established a penalty scheme for mitigating the real‐time fluctuations of renewable generation outputs in the spot market. Differences between real‐time generation outputs and market clearing outcomes are managed within a certain limit by imposing the designed penalty prices on deviations. Finally, the feasibility and efficiency of the developed market mechanism and algorithms are manifested in the case studies.

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Section: Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Spot electricity market design for a power system characterized by high penetration of renewable energy generation

Yang

Wen

Chen

et al. 2021

Energy Conversion and Econom

Self Cite

View full text Add to dashboard Cite

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Enerji Piyasalarında Ticari Davranış Tespiti İçin bir Karar Destek Sistemi

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2024

Gazi Üniversitesi Fen Bilimleri Dergisi Part C: Tasarım Ve Teknoloji

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Enerji piyasalarında artan karmaşıklık ve düzenleme ihtiyacı, ticari faaliyetlerin izlenmesi ve değerlendirilmesi için yenilikçi araçların geliştirilmesini zorunlu kılmaktadır. Bu çalışma, piyasa katılımcılarının davranışlarını yapay öğrenme tekniklerini ve büyük veri analitiğini kullanarak ticari davranışları yüksek bir doğrulukla tespiti yapan bir karar destek sistemini (KDS) ortaya koymaktadır. Söz konusu KDS, piyasa katılımcılarının takip etmek istedikleri santral ve/veya santral tipine göre LGBM ile ticari davranış skorlaması yaparak piyasadaki ana oyuncuların ticari davranış tespit edebilmekte ve bu sayede piyasa katılımcılarının veriye dayalı teklif verebilmelerini sağlamaktadır.

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Efficiency Loss for Variable Renewable Energy Incurred by Competition in Electricity Markets

Cited by 2 publications

References 0 publications

Spot electricity market design for a power system characterized by high penetration of renewable energy generation

Spot electricity market design for a power system characterized by high penetration of renewable energy generation

Enerji Piyasalarında Ticari Davranış Tespiti İçin bir Karar Destek Sistemi

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