Research on the Trading Arrangement and Clearing Model of Medium- and Long-Term Inter-Provincial Markets Considering Security Constraints

Abstract

In the process of deepening market-oriented reform, the most important thing in China is building a national unified electricity market system under a high renewable energy penetration scenario. The new round of market-oriented reform proposes to establish an inter-provincial electricity-trading arrangement. Due to imperfect market mechanisms and immature inter-provincial electricity markets, we investigate the electricity market operation system of the national unified electricity market. Existing transmission commitments, trading cycles, market participants, strategic bids, and clearing and settlement mechanisms are analyzed for inter-provincial medium- and long-term markets. For security reasons of interchange schedules, we propose a novel inter-provincial market-clearing model based on static security regions, which consider inter-provincial electricity transmissions and direct current power flows. The proposed market-clearing model is simulated and verified in a 3-bus system and an IEEE 30-bus system. The proposed clearing model and rational market theory are conducive not only to promoting renewable energy consumption but also to improving the linkages between inter-provincial medium- and long-term markets.

Opinion on intra-provincial medium and long-term electricity market considering available transmission capacity

“…On the strength of power transfer distribution factors, they calculated the available transfer capability of the grid through the DC power flow calculation method. Then they established the M-L electricity market transaction clearing model, which could ensure the transactions pass the security assessment (Fu et al, 2022). Europe is the forerunner in electricity market reform.…”

Market‐clearing framework of a resilient microgrid with renewable energy considering emission reduction targets

“…They established a renewable energy adjustment calculation model to analyze the potential of the 'Three-North' renewable energy project in China. The existing model does not realize the connection between the day-ahead market and the intra-day market, resulting in the serious abandonment of wind and light generated by renewable energy power [23][24][25]. The impact of renewable energy on electricity trading in microgrid-based industrial parks is significant.…”

Two-Stage Dynamic Alliance Bidding for Incremental Distribution and Retail Companies Based on Complex Network Theory

“…With the reform of the electricity market in China (Fu et al, 2022), IDRC has become a strategic player in the wholesale electricity market, operating the distribution network and distributed energy resources (DERs). Under the background of carbon neutrality and carbon peak (Li et al, 2022), the penetration of renewable energy in the distribution network gradually increases.…”