A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance
To analyze the effect of carbon emission quota allocation on the locational marginal price (LMP) of day-ahead electricity markets, this paper proposes a two-stage algorithm. For the first stage of the algorithm, a multi-objective optimization model is established to simultaneously minimize the total...
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| Format: | Article |
| Language: | English |
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MDPI AG
2020-05-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/13/10/2510 |
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| author | Mingxing Wu Zhilin Lu Qing Chen Tao Zhu En Lu Wentian Lu Mingbo Liu |
| author_facet | Mingxing Wu Zhilin Lu Qing Chen Tao Zhu En Lu Wentian Lu Mingbo Liu |
| author_sort | Mingxing Wu |
| collection | DOAJ |
| description | To analyze the effect of carbon emission quota allocation on the locational marginal price (LMP) of day-ahead electricity markets, this paper proposes a two-stage algorithm. For the first stage of the algorithm, a multi-objective optimization model is established to simultaneously minimize the total costs and carbon emission costs of power systems. Hence, an evenly distributed Pareto optimal solution can be solved effectively by means of the normalized normal constraint method. For the second stage, a tracing model is built with the goal of minimizing the total costs of power systems and satisfying the constraints generated based on the Pareto optimal solution obtained from the first stage. Furthermore, the influence of carbon emission quota allocation on the LMP of electricity markets is analyzed, and different schemes to allocate carbon emission quotas are evaluated on a real 1560-bus and 52-unit system. |
| first_indexed | 2024-03-10T19:48:11Z |
| format | Article |
| id | doaj.art-f8167ec4dc1d4804a5ab405a26a9466d |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T19:48:11Z |
| publishDate | 2020-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-f8167ec4dc1d4804a5ab405a26a9466d2023-11-20T00:39:10ZengMDPI AGEnergies1996-10732020-05-011310251010.3390/en13102510A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission AllowanceMingxing Wu0Zhilin Lu1Qing Chen2Tao Zhu3En Lu4Wentian Lu5Mingbo Liu6Guangdong Power Exchange Center Co., Guangzhou 510080, ChinaSchool of Electric Power Engineering, South China University of Technology, Guangzhou 510640, ChinaGuangdong Power Exchange Center Co., Guangzhou 510080, ChinaGuangdong Power Exchange Center Co., Guangzhou 510080, ChinaGuangdong Power Exchange Center Co., Guangzhou 510080, ChinaSchool of Electric Power Engineering, South China University of Technology, Guangzhou 510640, ChinaSchool of Electric Power Engineering, South China University of Technology, Guangzhou 510640, ChinaTo analyze the effect of carbon emission quota allocation on the locational marginal price (LMP) of day-ahead electricity markets, this paper proposes a two-stage algorithm. For the first stage of the algorithm, a multi-objective optimization model is established to simultaneously minimize the total costs and carbon emission costs of power systems. Hence, an evenly distributed Pareto optimal solution can be solved effectively by means of the normalized normal constraint method. For the second stage, a tracing model is built with the goal of minimizing the total costs of power systems and satisfying the constraints generated based on the Pareto optimal solution obtained from the first stage. Furthermore, the influence of carbon emission quota allocation on the LMP of electricity markets is analyzed, and different schemes to allocate carbon emission quotas are evaluated on a real 1560-bus and 52-unit system.https://www.mdpi.com/1996-1073/13/10/2510carbon emission allowanceday-ahead electricity marketmulti-objective optimizationtwo-stage algorithm |
| spellingShingle | Mingxing Wu Zhilin Lu Qing Chen Tao Zhu En Lu Wentian Lu Mingbo Liu A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance Energies carbon emission allowance day-ahead electricity market multi-objective optimization two-stage algorithm |
| title | A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance |
| title_full | A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance |
| title_fullStr | A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance |
| title_full_unstemmed | A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance |
| title_short | A Two-Stage Algorithm of Locational Marginal Price Calculation Subject to Carbon Emission Allowance |
| title_sort | two stage algorithm of locational marginal price calculation subject to carbon emission allowance |
| topic | carbon emission allowance day-ahead electricity market multi-objective optimization two-stage algorithm |
| url | https://www.mdpi.com/1996-1073/13/10/2510 |
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