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SCIENTIA SINICA Informationis, Volume 49, Issue 8: 1050-1065(2019) https://doi.org/10.1360/N112018-00073

A day-ahead electricity market-clearing model considering medium- and long-term transactions and wind producer participation

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  • ReceivedAug 27, 2018
  • AcceptedOct 16, 2018
  • PublishedAug 9, 2019

Abstract

A transaction and settlement model of day-ahead markets that considers both long-term contract and wind power producer participation is proposed for China's electricity market, in which current developments promote both long-term contracts and spot transactions, and in which a trend to improve new energy accommodation through the spot market exists. The combination of long-term contract electricity and day-ahead transactions, as well as a joint optimization model of electric power and reserve, has been proposed. A multi-scenario probability distribution was used to examine the stochastic nature of wind generation. The case studies demonstrate the effectiveness and rationality of the proposed model by comparison with the sequential clearing model. The results provide an analytical tool for the transition from the current electricity market, which consists mainly of long-term contracts and spot transactions.


Funded by

国家电网公司科技项目(18-GW-03)


References

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  • Table 1   The consumption levels and the long-term contracts decomposition results (MW)
    c
    Load
    c
    The decompostion amount of long-term contracts
    Period 1 2 3 $Q^{CH}_{1t}$ $Q^{CH}_{2t}$ $Q^{CH}_{3t}$ $Q^{CH}_{4t}$ $Q^{CL}_{1t}$ $Q^{CL}_{2t}$ $Q^{CL}_{3t}$ $Q^{CL}_{4t}$
    1 500 220 280 500 200 100 50 150 100 80 50
    2 450 225 300 450 150 50 50 120 70 40 50
    3 450 200 290 500 150 75 50 80 90 60 50
  • Table 2   Generation levels in different proportion of long-term contract (MW)
    c
    High contract proportion (70%) c
    Low contract proportion (30%) No contract
    Period $P^g_{1t}$ $P^g_{2t}$ $P^g_{3t}$ $P^g_{wt}$ $P^g_{1t}$ $P^g_{2t}$ $P^g_{3t}$ $P^g_{wt}$ $P^g_{1t}$ $P^g_{2t}$ $P^g_{3t}$ $P^g_{wt}$
    1 600.0 180.0 127.9 92.1 600.0 177.1 128.3 94.6 600.0 177.1 128.3 94.6
    2 587.7 210.0 83.2 94.2 587.7 210.0 83.2 94.2 587.7 210.0 83.2 94.2
    3 600.0 177.4 75.0 92.6 600.0 190.6 60.0 89.4 600.0 194.6 49.87 95.6
  • Table 3   LMP of electricity and reserve in day-ahead market
    Bus c
    Co-optimized of energy and reserve c
    Orderly optimized of energy and reserve
    c
    LMP of energy (/MWh) c
    LMP of reserve (/MWh) LMP of energy (/MWh) LMP of reserve (/MWh)
    1 2 3 1 2 3 1 2 3 1 2 3
    1 10.00 10.00 15.00 12.07 11.15 12.40 10.00 10.00 15.00 14.63 15.12 13.42
    2 15.00 16.98 15.00 12.13 12.89 12.65 11.87 16.98 15.00 16.85 13.34 13.63
    3 28.43 26.38 25.00 10.89 15.24 12.40 27.34 26.38 15.00 11.55 15.98 13.37
    4 30.00 30.00 15.67 11.13 16.15 13.92 30.00 30.00 15.00 12.40 16.6 14.1
    5 16.27 39.94 15.00 11.77 18.63 12.40 16.27 39.94 15.00 14.24 19.54 14.09
    Total cost 44762 47382
  • Table 4   The settlement results of the day-ahead market
    Unit c
    Long-term contract c
    Generation revenue ($\$$) Revenue of reserve ($\$$) Total revenue ($\$$)
    revenue ($\$$)
    1 2 3 1 2 3 1 2 3
    Unit 1 6000 4560 4800 1000 2077 3000 0 0 0 21437
    Unit 2 2550 2890 2805 450.0 679.2 186.0 0 0 29.68 9590
    Unit 3 1395 1550 1705 2487 996.0 313.4 175.33 181.22 55.23 8858
    Unit 4 1000 1000 1000 685.0 1765 639.0 $-$175.33 $-$181.22 $-$84.91 5648

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