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To promote the reformation of the electricity market in China, a market mechanism that can support collaboration between the contract market and the upcoming spot market was designed in this paper. The focus of this paper was to develop a mechanism to institutionally stabilize the market by way of disciplining market power abuse through limiting arbitrage opportunities generated from multi-markets. To quantitatively describe the arbitrage opportunity, the arbitrage opportunity function (AOF) was defined. Based on inferences of the no-arbitrage principle and the AOF, a cost-based decomposition algorithm for contracts that could improve contract coverage was proposed. The incentive compatible settlement rule for the uncovered generation on the spot market was designed to properly manipulate the arbitrage opportunity. The decomposition algorithm and the settlement rule constituted the designed market mechanism. To verify the applicability and effectiveness of the proposed mechanism, the principles of incentive compatibility, individual rationality, and payment cost minimization were employed to test the designed market mechanism based on the concept of dominant policy equilibrium. This test was conducted on a fictitious case based on the IEEE-14 system. The analysis and results may provide valuable insights on market design in China based on the functional correlation between the contract market and the spot market.
Chen Zhang; Wei Yan. Spot Market Mechanism Design for the Electricity Market in China Considering the Impact of a Contract Market. Energies 2019, 12, 1064 .
AMA StyleChen Zhang, Wei Yan. Spot Market Mechanism Design for the Electricity Market in China Considering the Impact of a Contract Market. Energies. 2019; 12 (6):1064.
Chicago/Turabian StyleChen Zhang; Wei Yan. 2019. "Spot Market Mechanism Design for the Electricity Market in China Considering the Impact of a Contract Market." Energies 12, no. 6: 1064.
Existing continuation power flow (CPF) models mainly focus on the regional independent systems, which are not suitable for multi-area AC/DC interconnected systems because the market trading behaviors and security control for power allocation of tie-lines are ignored. This study presents a novel CPF model and its decoupling algorithm for multi-area AC/DC interconnected systems incorporating a voltage source converter (VSC)-based multi-terminal direct current (MTDC) network. This CPF model includes the following unique features: (1) In view of the bilateral power trading contracts among regional subsystems, the nonlinear constraint equations of directional trading active power via interface are derived, and the multi-balancing machine strategy is introduced to realize the active power balance of each subsystem. (2) An accurate simulation method for the security control behaviors of the power allocation in tie-lines is proposed, which includes a specific selection strategy for automatic generation control units and a generation re-dispatch strategy. These two strategies work together to prevent the serious overload in tie-lines during load growth and improve the voltage stability margin of the interconnected bulk systems. (3) The switching characteristic of reactive power control behaviors of VSC stations is simulated in the CPF calculation. In the end, a novel decoupling CPF algorithm based on bi-directional iteration is presented to realize the decomposition and coordination calculation. This decoupling algorithm preserves the precision and convergence of integrated CPF algorithms, and it has an apparent advantage on the calculation speed. Furthermore, this decoupling algorithm also can easily reflects the effects of the control mode changes of VSC stations to the voltage stability margin of AC system. Case studies and comparative analysis on the IEEE two-area RTS-96 system indicate the effectiveness and validity of the proposed CPF model and corresponding decoupling algorithm.
Wei Yan; Chong Ding; Zhouyang Ren; Wei-Jen Lee. A Continuation Power Flow Model of Multi-Area AC/DC Interconnected Bulk Systems Incorporating Voltage Source Converter-Based Multi-Terminal DC Networks and Its Decoupling Algorithm. Energies 2019, 12, 733 .
AMA StyleWei Yan, Chong Ding, Zhouyang Ren, Wei-Jen Lee. A Continuation Power Flow Model of Multi-Area AC/DC Interconnected Bulk Systems Incorporating Voltage Source Converter-Based Multi-Terminal DC Networks and Its Decoupling Algorithm. Energies. 2019; 12 (4):733.
Chicago/Turabian StyleWei Yan; Chong Ding; Zhouyang Ren; Wei-Jen Lee. 2019. "A Continuation Power Flow Model of Multi-Area AC/DC Interconnected Bulk Systems Incorporating Voltage Source Converter-Based Multi-Terminal DC Networks and Its Decoupling Algorithm." Energies 12, no. 4: 733.
The existing studies on probabilistic steady-state analysis of integrated energy systems (IES) are limited to integrated electricity and gas networks or integrated electricity and heating networks. This paper proposes a probabilistic steady-state analysis of integrated electricity, gas and heating networks (EGH-IES). Four typical operation modes of an EGH-IES are presented at first. The probabilistic energy flow problem of the EGS-IES considering its operation modes and correlated uncertainties in wind/solar power and electricity/gas/heat loads is then formulated and solved by the Monte Carlo method based on Latin hypercube sampling and Nataf transformation. Numerical simulations are conducted on a sample EGH-IES working in the “electricity/gas following heat” mode to verify the probabilistic analysis proposed in this paper and to study the effects of uncertainties and correlations on the operation of the EGH-IES, especially uncertainty transmissions among the subnetworks.
Lun Yang; Xia Zhao; Xinyi Li; Wei Yan. Probabilistic Steady-State Operation and Interaction Analysis of Integrated Electricity, Gas and Heating Systems. Energies 2018, 11, 917 .
AMA StyleLun Yang, Xia Zhao, Xinyi Li, Wei Yan. Probabilistic Steady-State Operation and Interaction Analysis of Integrated Electricity, Gas and Heating Systems. Energies. 2018; 11 (4):917.
Chicago/Turabian StyleLun Yang; Xia Zhao; Xinyi Li; Wei Yan. 2018. "Probabilistic Steady-State Operation and Interaction Analysis of Integrated Electricity, Gas and Heating Systems." Energies 11, no. 4: 917.