Review of Market Power Assessment and Mitigation in Reshaping of Power Systems
The deregulation of the power industry requires avoiding market power abuse to maintain the market competitiveness. To this end, a sequence of assessment measurements or mitigation mechanisms is required. Meanwhile, the increasing renewable energy resources (RESs) and flexible demand response resour...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
IEEE
2022-01-01
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| Series: | Journal of Modern Power Systems and Clean Energy |
| Subjects: | |
| Online Access: | https://ieeexplore.ieee.org/document/9582840/ |
| _version_ | 1811247005668737024 |
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| author | Nan Shang Yi Ding Wenqi Cui |
| author_facet | Nan Shang Yi Ding Wenqi Cui |
| author_sort | Nan Shang |
| collection | DOAJ |
| description | The deregulation of the power industry requires avoiding market power abuse to maintain the market competitiveness. To this end, a sequence of assessment measurements or mitigation mechanisms is required. Meanwhile, the increasing renewable energy resources (RESs) and flexible demand response resources (DRSs) are changing the behaviors of market participants and creating new cases of market power abuse. Such new circumstances bring the new evaluation and control methods of market power to the forefront. This paper provides a comprehensive review of market power in the reshaping of power systems due to the increasing RES and the development of DRS. The market power at the supply side, demand side, and in the multi-energy system is categorized and reviewed. In addition, the applications of market power supervision measures in the US, the Nordics, UK, and China are summarized. Furthermore, the unsolved issues, possible key technologies, and potential research topics on market power are discussed. |
| first_indexed | 2024-04-12T15:02:01Z |
| format | Article |
| id | doaj.art-389615c864be4399b9c25fa84b832e82 |
| institution | Directory Open Access Journal |
| issn | 2196-5420 |
| language | English |
| last_indexed | 2024-04-12T15:02:01Z |
| publishDate | 2022-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | Journal of Modern Power Systems and Clean Energy |
| spelling | doaj.art-389615c864be4399b9c25fa84b832e822022-12-22T03:28:03ZengIEEEJournal of Modern Power Systems and Clean Energy2196-54202022-01-011051067108410.35833/MPCE.2021.0000299582840Review of Market Power Assessment and Mitigation in Reshaping of Power SystemsNan Shang0Yi Ding1Wenqi Cui2Development Research Institute, China Southern Power Grid,Guangzhou,ChinaCollege of Electrical Engineering, Zhejiang University,Hangzhou,ChinaUniversity of Washington,Department of Electrical and Computer Engineering,Seattle,USAThe deregulation of the power industry requires avoiding market power abuse to maintain the market competitiveness. To this end, a sequence of assessment measurements or mitigation mechanisms is required. Meanwhile, the increasing renewable energy resources (RESs) and flexible demand response resources (DRSs) are changing the behaviors of market participants and creating new cases of market power abuse. Such new circumstances bring the new evaluation and control methods of market power to the forefront. This paper provides a comprehensive review of market power in the reshaping of power systems due to the increasing RES and the development of DRS. The market power at the supply side, demand side, and in the multi-energy system is categorized and reviewed. In addition, the applications of market power supervision measures in the US, the Nordics, UK, and China are summarized. Furthermore, the unsolved issues, possible key technologies, and potential research topics on market power are discussed.https://ieeexplore.ieee.org/document/9582840/Market powerrenewable energy source (RES)flexible demand response source (DRS)assessmentmitigation |
| spellingShingle | Nan Shang Yi Ding Wenqi Cui Review of Market Power Assessment and Mitigation in Reshaping of Power Systems Journal of Modern Power Systems and Clean Energy Market power renewable energy source (RES) flexible demand response source (DRS) assessment mitigation |
| title | Review of Market Power Assessment and Mitigation in Reshaping of Power Systems |
| title_full | Review of Market Power Assessment and Mitigation in Reshaping of Power Systems |
| title_fullStr | Review of Market Power Assessment and Mitigation in Reshaping of Power Systems |
| title_full_unstemmed | Review of Market Power Assessment and Mitigation in Reshaping of Power Systems |
| title_short | Review of Market Power Assessment and Mitigation in Reshaping of Power Systems |
| title_sort | review of market power assessment and mitigation in reshaping of power systems |
| topic | Market power renewable energy source (RES) flexible demand response source (DRS) assessment mitigation |
| url | https://ieeexplore.ieee.org/document/9582840/ |
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