Market‐based mechanism for multi‐area power exchange management in a multiple electricity market

Abstract

The cross-border trading in an interconnected multi-area power system (MAPS) has significantly increased in recent years. In this situation, the coordination of electricity markets in MAPS is very imperative. In this study, in the presence of multiple markets in an MAPS structure, it is assumed that there is a single market in each area, and the participation of external players in each market is possible. A market-based mechanism for power exchange management is designed by a proposed central coordinator entity. In this mechanism, two main roles are considered for the coordinator, namely, the determination of the external network equivalents for each area, and the management of power exchange in an iterative decision-making process to maintain system security. The designed mechanism uses the proposed power exchange management factors matrix. Then, a market process is run for the management of external player's exchanges. The numerical results for a small-scale (15-bus) test system as well as the IEEE RTS-96 system are presented to demonstrate the effectiveness of the proposed mechanism.

Multi‐stage bi‐level linear model for low carbon expansion planning of multi‐area power systems

“…IC of the regions in the second level of the optimisation is calculated by (24). IC in the inter-area transmission lines is calculated by (25) and (26). Salvage value for the transmission lines is defined based on the capacity expansion plans for the transmission lines in the target planning year.…”

“…Adjacent regions can collaborate in a multiarea power system (MAPS) to assist each other in expansion planning and meeting carbon emission reduction targets. Recently, several research works have focused on MAPS expansion planning and operation [19][20][21][22][23][24][25]. A multi-region G&TEP model that considers operational constraints and generation unit commissioning time has been developed in [19].…”

“…The approach presented in [23,24] are only suitable for MAPSs which are operated as a single economic unit. Karimi et al [25] studied the operation and energy trade by splitting the MAPS into the individual regions. However, their model relies on complete information trading between regions, which is not a feasible assumption in MAPS with different ISOs.…”

A Bi-Level Model for the Bidding Strategy of an Inter-Regional Electricity Trading Aggregator Considering Reliability Requirements and Transmission Losses

“…Facing the unbalanced spatial distribution between electricity resources and demands, many countries (or regions) are opening their borders to a greater degree of competition in the market-orientied electricity transaction, resulting in a trend toward inter-regional electricity trading (IRET) [1], [2]. Compared to conventional electricity trading held within a specific region, IRET can better allocate the electricity resources and…”

Resource adequacy in interdependent electricity markets undergoing heterogeneous expansion in renewable energy

“…In [17, 18] a market‐based mechanism for power exchange management was designed by a proposed central coordinator entity in the interconnected multi‐area power system. In this mechanism, two main roles were considered for the coordinator, namely, the determination of the external network equivalent for each area, and the management of power exchange in an iterative decision‐making process to maintain system security.…”