Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges
With the growth of electricity consumers purchasing green energy and the development of digital energy trading platforms, the role of digitalized retail electricity markets in the low-carbon transition of electric energy systems is becoming increasingly crucial. In this circumstance, the research wo...
| Main Authors: | , , , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Frontiers Media S.A.
2023-12-01
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| Series: | Frontiers in Energy Research |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fenrg.2023.1324450/full |
| _version_ | 1827395993214124032 |
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| author | Xiuzhen Hu Weicong Tan Yuting Xie Wei Yang Zhijian Zeng Yuanming Huang Dongliang Xiao Yuquan Chi Runting Cheng |
| author_facet | Xiuzhen Hu Weicong Tan Yuting Xie Wei Yang Zhijian Zeng Yuanming Huang Dongliang Xiao Yuquan Chi Runting Cheng |
| author_sort | Xiuzhen Hu |
| collection | DOAJ |
| description | With the growth of electricity consumers purchasing green energy and the development of digital energy trading platforms, the role of digitalized retail electricity markets in the low-carbon transition of electric energy systems is becoming increasingly crucial. In this circumstance, the research work on retail electricity markets needs to be further analyzed and expanded, which would facilitate the efficient decision-making of both market players and policymakers. First, this paper introduces the latest developments in the retail electricity market under low-carbon energy transition and analyzes the limitations of the existing research works. Second, from three aspects of power trading strategy, retail pricing methodology, and market risk management, it provides an overview of the existing operation and mechanism design strategies of the retail electricity market; then, it provides a systematic introduction to the evaluation system and monitoring methodology of electricity markets, which is not sufficient for the current digitalized retail electricity markets. Finally, the issues regarding operation evaluation and platform optimization of the current digitalized retail electricity market are summarized, and the research topics worth further investigations are recommended. |
| first_indexed | 2024-03-08T18:44:10Z |
| format | Article |
| id | doaj.art-97f9cf094b434d93bb20c45623e22512 |
| institution | Directory Open Access Journal |
| issn | 2296-598X |
| language | English |
| last_indexed | 2024-03-08T18:44:10Z |
| publishDate | 2023-12-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Energy Research |
| spelling | doaj.art-97f9cf094b434d93bb20c45623e225122023-12-29T04:13:21ZengFrontiers Media S.A.Frontiers in Energy Research2296-598X2023-12-011110.3389/fenrg.2023.13244501324450Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challengesXiuzhen Hu0Weicong Tan1Yuting Xie2Wei Yang3Zhijian Zeng4Yuanming Huang5Dongliang Xiao6Yuquan Chi7Runting Cheng8Guangdong Power Exchange Center Co., Ltd., Guangzhou, ChinaGuangdong Power Exchange Center Co., Ltd., Guangzhou, ChinaGuangdong Power Exchange Center Co., Ltd., Guangzhou, ChinaGuangdong Power Exchange Center Co., Ltd., Guangzhou, ChinaGuangdong Power Exchange Center Co., Ltd., Guangzhou, ChinaGuangdong Power Exchange Center Co., Ltd., Guangzhou, ChinaSchool of Electric Power, South China University of Technology, Guangzhou, ChinaSchool of Electric Power, South China University of Technology, Guangzhou, ChinaSchool of Electric Power, South China University of Technology, Guangzhou, ChinaWith the growth of electricity consumers purchasing green energy and the development of digital energy trading platforms, the role of digitalized retail electricity markets in the low-carbon transition of electric energy systems is becoming increasingly crucial. In this circumstance, the research work on retail electricity markets needs to be further analyzed and expanded, which would facilitate the efficient decision-making of both market players and policymakers. First, this paper introduces the latest developments in the retail electricity market under low-carbon energy transition and analyzes the limitations of the existing research works. Second, from three aspects of power trading strategy, retail pricing methodology, and market risk management, it provides an overview of the existing operation and mechanism design strategies of the retail electricity market; then, it provides a systematic introduction to the evaluation system and monitoring methodology of electricity markets, which is not sufficient for the current digitalized retail electricity markets. Finally, the issues regarding operation evaluation and platform optimization of the current digitalized retail electricity market are summarized, and the research topics worth further investigations are recommended.https://www.frontiersin.org/articles/10.3389/fenrg.2023.1324450/fullretail electricity marketlow carbonoperation strategyevaluation methodrisk management |
| spellingShingle | Xiuzhen Hu Weicong Tan Yuting Xie Wei Yang Zhijian Zeng Yuanming Huang Dongliang Xiao Yuquan Chi Runting Cheng Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges Frontiers in Energy Research retail electricity market low carbon operation strategy evaluation method risk management |
| title | Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges |
| title_full | Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges |
| title_fullStr | Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges |
| title_full_unstemmed | Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges |
| title_short | Operation and evaluation of digitalized retail electricity markets under low-carbon transition: recent advances and challenges |
| title_sort | operation and evaluation of digitalized retail electricity markets under low carbon transition recent advances and challenges |
| topic | retail electricity market low carbon operation strategy evaluation method risk management |
| url | https://www.frontiersin.org/articles/10.3389/fenrg.2023.1324450/full |
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