Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism
The orderly deregulation of planned electricity generation and consumption is an important measure for electricity market reform in several countries (such as China), and a reasonable proportion of planned electricity in the total energy consumption is conducive to the smooth transition from the reg...
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Frontiers Media S.A.
2021-06-01
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| Series: | Frontiers in Energy Research |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/fenrg.2021.679365/full |
| _version_ | 1819099722510499840 |
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| author | Chuan He Chuan He Jiajun Tang Weishi Zhang Weishi Zhang Zhi Zhang Zhemin Lin Zhemin Lin Yating Li Hanhan Qian Hanhan Qian Hailong Jiang Hailong Jiang Zhenzhi Lin Zhenzhi Lin Li Yang |
| author_facet | Chuan He Chuan He Jiajun Tang Weishi Zhang Weishi Zhang Zhi Zhang Zhemin Lin Zhemin Lin Yating Li Hanhan Qian Hanhan Qian Hailong Jiang Hailong Jiang Zhenzhi Lin Zhenzhi Lin Li Yang |
| author_sort | Chuan He |
| collection | DOAJ |
| description | The orderly deregulation of planned electricity generation and consumption is an important measure for electricity market reform in several countries (such as China), and a reasonable proportion of planned electricity in the total energy consumption is conducive to the smooth transition from the regulation mode to the market mode. Under the plan-market double-track mechanism (PMDM) implemented, a modified linear bidding function of generation companies (GCs) is first proposed, and the unified clearing price of unilateral generation market is determined accordingly. Second, considering the robust bidding strategies of generation companies, a bi-level optimal planned electricity allocation model for power exchange (PX) is constructed. In the upper level, the proportion of planned electricity is optimized by PX to minimize the CVaR of Lerner Index (LI), so as to maintain the market power at a low level. In the lower level, based on the robust optimization theory and the prediction of rival bidding, the bidding strategy of a GC is optimized by solving a specified max–min problem. Simulations based on data from a provincial electricity market in China illustrate that the market power can be reduced through a reasonable proportion of planned electricity designed by the PX. In addition, when more GCs tend to avoid a market risk, the proportion of planned electricity can be increased accordingly. |
| first_indexed | 2024-12-22T00:51:24Z |
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| id | doaj.art-e0e9aa4ad58c460a8f5918cc91d8f886 |
| institution | Directory Open Access Journal |
| issn | 2296-598X |
| language | English |
| last_indexed | 2024-12-22T00:51:24Z |
| publishDate | 2021-06-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Energy Research |
| spelling | doaj.art-e0e9aa4ad58c460a8f5918cc91d8f8862022-12-21T18:44:26ZengFrontiers Media S.A.Frontiers in Energy Research2296-598X2021-06-01910.3389/fenrg.2021.679365679365Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track MechanismChuan He0Chuan He1Jiajun Tang2Weishi Zhang3Weishi Zhang4Zhi Zhang5Zhemin Lin6Zhemin Lin7Yating Li8Hanhan Qian9Hanhan Qian10Hailong Jiang11Hailong Jiang12Zhenzhi Lin13Zhenzhi Lin14Li Yang15State Grid Anhui Electric Power Co., Ltd., Hefei, ChinaAnhui Power Exchange Center Company, Hefei, ChinaCollege of Electrical Engineering, Zhejiang University, Hangzhou, ChinaState Grid Anhui Electric Power Co., Ltd., Hefei, ChinaAnhui Power Exchange Center Company, Hefei, ChinaCollege of Electrical Engineering, Zhejiang University, Hangzhou, ChinaState Grid Anhui Electric Power Co., Ltd., Hefei, ChinaAnhui Power Exchange Center Company, Hefei, ChinaCollege of Electrical Engineering, Zhejiang University, Hangzhou, ChinaState Grid Anhui Electric Power Co., Ltd., Hefei, ChinaAnhui Power Exchange Center Company, Hefei, ChinaState Grid Anhui Electric Power Co., Ltd., Hefei, ChinaAnhui Power Exchange Center Company, Hefei, ChinaCollege of Electrical Engineering, Zhejiang University, Hangzhou, ChinaCollege of Electrical Engineering, Shandong University, Jinan, ChinaCollege of Electrical Engineering, Zhejiang University, Hangzhou, ChinaThe orderly deregulation of planned electricity generation and consumption is an important measure for electricity market reform in several countries (such as China), and a reasonable proportion of planned electricity in the total energy consumption is conducive to the smooth transition from the regulation mode to the market mode. Under the plan-market double-track mechanism (PMDM) implemented, a modified linear bidding function of generation companies (GCs) is first proposed, and the unified clearing price of unilateral generation market is determined accordingly. Second, considering the robust bidding strategies of generation companies, a bi-level optimal planned electricity allocation model for power exchange (PX) is constructed. In the upper level, the proportion of planned electricity is optimized by PX to minimize the CVaR of Lerner Index (LI), so as to maintain the market power at a low level. In the lower level, based on the robust optimization theory and the prediction of rival bidding, the bidding strategy of a GC is optimized by solving a specified max–min problem. Simulations based on data from a provincial electricity market in China illustrate that the market power can be reduced through a reasonable proportion of planned electricity designed by the PX. In addition, when more GCs tend to avoid a market risk, the proportion of planned electricity can be increased accordingly.https://www.frontiersin.org/articles/10.3389/fenrg.2021.679365/fullplan-market double-track mechanismplanned electricityconditional value at riskrobust optimizationlerner index |
| spellingShingle | Chuan He Chuan He Jiajun Tang Weishi Zhang Weishi Zhang Zhi Zhang Zhemin Lin Zhemin Lin Yating Li Hanhan Qian Hanhan Qian Hailong Jiang Hailong Jiang Zhenzhi Lin Zhenzhi Lin Li Yang Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism Frontiers in Energy Research plan-market double-track mechanism planned electricity conditional value at risk robust optimization lerner index |
| title | Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism |
| title_full | Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism |
| title_fullStr | Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism |
| title_full_unstemmed | Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism |
| title_short | Optimal Planned Electricity Allocation Model for Power Exchange Under the Plan-Market Double-Track Mechanism |
| title_sort | optimal planned electricity allocation model for power exchange under the plan market double track mechanism |
| topic | plan-market double-track mechanism planned electricity conditional value at risk robust optimization lerner index |
| url | https://www.frontiersin.org/articles/10.3389/fenrg.2021.679365/full |
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