Joint equilibrium analysis of electricity market with tradable green certificates

An, Xuena; Zhao, Chen; Zhang, Shaohua; Li, Xue

doi:10.1109/drpt.2015.7432215

Cited by 8 publications

(5 citation statements)

References 16 publications

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“…Where, V f is the amount of natural gas consumption in the electricity generation process; η MT is the efficiency of power generation; ∆t is the time of generating electricity. LHV is low calorific value of natural gas, take 8342.4 kcal/m 3 [23];…”

Section: Resource Analysis Of Source-charge-storage Flexibility a Pow...mentioning

confidence: 99%

Optimized Configuration of Distributed Power Generation Based on Multi-Stakeholder and Energy Storage Synergy

Cheng,

Wang,

Pan

2023

IEEE Access

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Section: Resource Analysis Of Source-charge-storage Flexibility a Pow...mentioning

confidence: 99%

Optimized Configuration of Distributed Power Generation Based on Multi-Stakeholder and Energy Storage Synergy

Cheng,

Wang,

Pan

2023

IEEE Access

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“…Helgesen et al developed a hybrid complementary, multi-regional, partial equilibrium market clearing model for electricity-and green power certificates under the assumption of competition in the Nash-Guno market in order to investigate the economic impact of tradable green certificates (TGCs) on promoting renewable energy generation [42]. An et al proposed a two-stage joint-equilibrium model based on the theory of monopolistic competitive equilibrium to quantitatively study the impact of the introduction of green-power-certificate policy on the wholesale-electricity market [43].…”

Section: Implementation Effects Of Low-carbon Policiesmentioning

confidence: 99%

What Is the Impact of the Renewable Energy Power Absorption Guarantee Mechanism on China’s Green Electricity Market?

Lu,

Liu,

et al. 2023

Energies

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In order to accelerate the construction of a clean, low-carbon, safe and efficient energy system, China set the provincial weight of responsibility for renewable energy power consumption and established a renewable energy power absorption guarantee mechanism in 2019. As a market incentive policy, it has enduring effect on the low-carbon transformation of the power industry. Firstly, the operation mechanism of the renewable energy consumption guarantee mechanism is analyzed. The general framework, core elements and supporting measures are clarified. Secondly, a stock-flow diagram is constructed based on the system dynamics method. It contains the green electricity market sub-module, the green-certificate market sub-module and the excess power absorption market sub-module. Finally, multiple scenarios are set up to simulate the impact of the green-certificate market and excess power absorption market improvements on the installed capacity and tariff of China’s green power market. The renewable energy guarantee mechanism is an effective means to promote the consumption of green electricity in China. In addition, in the short term the cost of electricity for users has increased, but in the long term the cost of electricity shows a fluctuating downward trend. This study provides theoretical references for the formulation of clean and low-carbon policy objectives in the power industry and the optimization of market mechanisms.

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“…The authors of [17,18] explored the mechanism design of the RPS, and those of [19][20][21] studied the impact of the RPS on the generation side, the sales side, and the retail market, respectively. In [22], an electricity market system adapted to the RPS was designed; in [23], the interplay between the green certificate trading market and the wholesale electricity trading market was analyzed; in [24][25][26], renewable energy investment strategies were studied; in [27][28][29], the relationship between renewable energy development and electricity prices was studied; and in [30], the impact of renewable energy policies on the Italian electricity market was assessed. The authors of [31,32] used a system dynamics approach to analyze the impact of RPS on the RES generation industry and the retail electricity market.…”

Section: Research On the Trading Model Of Each Subject In The Electri...mentioning

confidence: 99%

Decision on Mixed Trading between Medium- and Long-Term Markets and Spot Markets for Electricity Sales Companies under New Electricity Reform Policies

Wang

Zhao

2022

Energies

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The introduction of the new round of electricity reform policies has made the electricity sales companies’ trading environment increasingly complex. In the medium- and long-term market and spot market, following the new policy-oriented optimization of trading decisions is the focus of electricity sales companies. The main objective of this study is to consider the impact of the latest policies of China’s current electricity reform on each subject of electricity trading and to propose a method for electricity sales companies to make optimal decisions on renewable energy source (RES) power and conventional energy source (CES) power mixed with power trading in the medium- and long-term and spot markets to improve the efficiency of electricity market trading, promoting the consumption of renewable energy and helping the synergistic development of the electricity market and the tradable green certificate (TGC) market. This paper first discusses the impact of the new electricity reform policies on the transactions of various subjects in the electricity market and constructs the model of the consumer utility function, the profit model of an electricity sales company, and the profit model of power generators with energy storage. Considering the complex power supply and demand relationship among the various subjects of the electricity market, a game model is established for the decision on mixed trading between the medium- and long-term market, the spot market, and the tradable green certificate market to minimize the comprehensive power purchase cost of an electricity sales company. To reduce the decision-making risk caused by the uncertainty of spot price, the prophet model is used to predict the spot price; finally, through the analysis of the decision-making model of the electricity sales companies, the optimal transaction decisions of the electricity sales companies in different trading periods and different scenarios are solved. The test results show that the proposed model can significantly improve the profitability of the electricity sales companies and provide a decision-making reference for electricity sales companies to participate in the medium- and long-term market and spot market.

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Joint equilibrium analysis of electricity market with tradable green certificates

Cited by 8 publications

References 16 publications

Optimized Configuration of Distributed Power Generation Based on Multi-Stakeholder and Energy Storage Synergy

Optimized Configuration of Distributed Power Generation Based on Multi-Stakeholder and Energy Storage Synergy

What Is the Impact of the Renewable Energy Power Absorption Guarantee Mechanism on China’s Green Electricity Market?

Decision on Mixed Trading between Medium- and Long-Term Markets and Spot Markets for Electricity Sales Companies under New Electricity Reform Policies

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