scholarly journals Game Analysis of Wind Storage Joint Ventures Participation in Power Market Based on a Double-Layer Stochastic Optimization Model

Processes ◽  
2019 ◽  
Vol 7 (12) ◽  
pp. 896
Author(s):  
Bin Ma ◽  
Shiping Geng ◽  
Caixia Tan ◽  
Dongxiao Niu ◽  
Zhijin He
Keyword(s):  
Wind Power ◽  
Electricity Market ◽  
Joint Ventures ◽  
Market Competition ◽  
Power Market ◽  
Energy Output ◽  
Power Station ◽  
New Energy ◽  
Upper Level ◽  
Pumped Storage

The volatility of a new energy output leads to bidding bias when participating in the power market competition. A pumped storage power station is an ideal method of stabilizing new energy volatility. Therefore, wind power suppliers and pumped storage power stations first form wind storage joint ventures to participate in power market competition. At the same time, middlemen are introduced, constructing an upper-level game model (considering power producers and wind storage joint ventures) that forms equilibrium results of bidding competition in the wholesale and power distribution markets. Based on the equilibrium result of the upper-level model, a lower model is constructed to distribute the profits from wind storage joint ventures. The profits of each wind storage joint venture, wind power supplier, and pumped storage power station are obtained by the Nash negotiation and the Shapely value method. Finally, a case study is conducted. The results show that the wind storage joint ventures can improve the economics of the system. Further, the middlemen can smooth the rapid fluctuation of power price in the distribution and wholesale market, maintaining a smooth and efficient operation of the electricity market. These findings provide information for the design of an electricity market competition mechanism and the promotion of new energy power generation.

Wind, Thermal and Hydropower Joint Operation Benefit Analyzes Based on the Life Cycle Management

2014 ◽  
Vol 496-500 ◽  
pp. 2720-2724
Author(s):  
Zhong Fu Tan ◽  
Lei Sun ◽  
Huan Huan Li ◽  
Li Wei Ju ◽  
Zhi Hong Chen
Keyword(s):  
Wind Power ◽  
Cost Benefit Analysis ◽  
Power Grid ◽  
Thermal Power ◽  
Cost Benefit ◽  
Generation Process ◽  
Analysis Model ◽  
Power Station ◽  
Grid Connection ◽  
Pumped Storage

Aimed to solve the abandoned wind problem and reduce CO2 emission in the power generation process, this paper put forward a thermal, wind power and pumped storage power station co-operation cost-benefit analysis model. And through a simulation example, found that using pumped storage power station to substitute thermal power as the alternate service for wind power, and absorb underused wind power, can reduce the use of fired units and increase the capacity of grid to absorb wind power, as well as reduce CO2 emission. Then through the sensitivity analysis, found that the amount of grid-connected wind power is a sensitive factor of CO2 emission reduction and the decrease of grid power purchase profit. So when grid implementing wind power grid connection, should use pumped storage power station as the wind power alternate service to promote wind power grid connection.

scholarly journals The design of index system of irregularities considering the whole process of electricity market transaction

2018 ◽  
Vol 175 ◽  
pp. 03011
Author(s):  
WANG Haining ◽  
LIU Dunnan ◽  
HU Huiwen ◽  
ZHANG Xiaochun ◽  
YANG Mo ◽  
...  
Keyword(s):  
Electricity Market ◽  
Index System ◽  
Early Stage ◽  
Market Competition ◽  
Power Market ◽  
Market Mechanism ◽  
Whole Process ◽  
The Future ◽  
New Strategy ◽  
Market Transaction

In the early stage of competitive trading of electric power market, the imperfection of market mechanism hinders the normal development of market competition, which leads to the defects of competition system and a large number of market transaction irregularities. The study of the irregularities of the market subject in the new background can provide a new strategy for the future power market. The study of the irregularities of the market subject in the new background can provide a new strategy for the future power market. In view of this, this paper first combed the analysis process of irregularities of whole process of electricity market trading. Then, the paper divides them from three time scales, namely, pre transaction, transaction and post transaction, and analyzes the three irregularities and reasons of the basic information accuracy and matching degree before transaction, the vicious bidding strategy in transaction, and the completion situation after the transaction. Finally, an index system of irregularities is proposed for the whole process of electricity market transaction, which will provide a useful reference for future effective supervision of market transactions, reduce the occurrence of irregularities and ensure the smooth development of market transactions.

scholarly journals Influence of wind power production on electricity market price

2020 ◽  
Vol 24 (1) ◽  
pp. 472-482
Author(s):  
Gunars Valdmanis ◽  
Gatis Bazbauers
Keyword(s):  
Wind Power ◽  
Electricity Market ◽  
System Analysis ◽  
Market Price ◽  
Power Market ◽  
Power Production ◽  
Energy System ◽  
Market Prices ◽  
Renewable Power ◽  
The Baltic

AbstractThe study looks for a correlation between the share of wind power and electricity wholesale prices in the selected regions of the Nordic Baltic power market “Nord Pool Spot”. The aim is to see if and how strong an impact of wind power production has on power market prices. This information would help to perform long-term energy system analysis considering growing wind energy penetration. The actual hourly wind production and power consumption data as well as electricity prices from the year 2019 were used in the analysis. Results of the study revealed that in the analysed dataset there is no correlation between the share of wind power and the power prices, i.e. R-squared value is 0.003 for the Baltic region and 0.0064 for both trading areas of Denmark. In contrast, the R-squared value was almost 0.6 for a positive correlation between power demand and prices. The results mean that expected loss of interest to invest due to falling power prices, as a share of renewable power increases, should be examined more carefully and may not fulfil forecasts of policy makers and industry experts.

scholarly journals Bidding strategy of pumped storage power station in spot market considering different optimization periods

2020 ◽  
Vol 194 ◽  
pp. 01009
Author(s):  
Li Zhou ◽  
Peiliang Liu ◽  
Sijia Liu ◽  
Zhou Lan ◽  
Shuyi Shen ◽  
...  
Keyword(s):  
Peak Power ◽  
Power Market ◽  
Bidding Strategy ◽  
Market Returns ◽  
Power Station ◽  
Bidding Strategies ◽  
Power Stations ◽  
Economic Operation ◽  
Power Frequency ◽  
Pumped Storage

Pumped storage power station has multiple functions, such as alleviating the contradiction between peak and valley, to ensure the safe and economic operation of power grid. In the non market stage, pumped storage power stations mainly obey the system operator’s scheduling. In the market stage, pumped storage power stations in China are likely to participate in the competitive power market and provide peak power, frequency regualtion and recovery services. The paper studies the bidding strategies of the pumped storage power stations participating in the power market, and provides decision support for the pumped storage power stations to maximize market returns.

scholarly journals Bidding Strategy of Virtual Power Plant with Energy Storage Power Station and Photovoltaic and Wind Power

2018 ◽  
Vol 2018 ◽  
pp. 1-11 ◽  
Author(s):  
Zhongfu Tan ◽  
Qingkun Tan ◽  
Yuwei Wang
Keyword(s):  
Energy Storage ◽  
Power Plant ◽  
Wind Power ◽  
Electricity Market ◽  
Power Plants ◽  
Bidding Strategy ◽  
Virtual Power ◽  
Power Station ◽  
Virtual Power Plant ◽  
Virtual Power Plants

For the virtual power plants containing energy storage power stations and photovoltaic and wind power, the output of PV and wind power is uncertain and virtual power plants must consider this uncertainty when they participate in the auction in the electricity market. In this context, this paper studies the bidding strategy of the virtual power plant with photovoltaic and wind power. Assuming that the upper and lower limits of the combined output of photovoltaic and wind power are stochastically variable, the fluctuation range of the day-ahead energy market and capacity price is stochastically variable. If the capacity of the storage station is large enough to stabilize the fluctuation of the output of the wind and photovoltaic power, virtual power plants can participate in the electricity market bidding. This paper constructs a robust optimization model of virtual power plant bidding strategy in the electricity market, which considers the cost of charge and discharge of energy storage power station and transmission congestion. The model proposed in this paper is solved by CPLEX; the example results show that the model is reasonable and the method is valid.

scholarly journals Research on Dispatching Management of High Proportion New Energy Grid in the Electricity Market Environment

2021 ◽  
Vol 13 ◽  
pp. 6-12
Author(s):  
Bolin Zhang ◽  
Chong Shao ◽  
Chunxiang Yang ◽  
Xiaobin Zhang ◽  
Tianyu Zhang ◽  
...  
Keyword(s):  
Power Supply ◽  
Electricity Market ◽  
Business Processes ◽  
Optimal Allocation ◽  
Supply And Demand ◽  
Power Market ◽  
Spot Market ◽  
Gansu Province ◽  
Smooth Transition ◽  
New Energy

The electricity spot market can reflect the power supply and demand situation in real time through price signals, guiding users to shift peaks and fill valleys, and enhancing the level of new energy consumption. Gansu Province, one of the first pilot spot market provinces in China, has designed a bilateral spot market for generations and users. The power supply mode and grid operation mode will undergo changes according to the operation results of the power market to achieve the optimal allocation of power resources, thus posing a huge challenge to the original grid dispatching mode. The article analyses the dispatch management articulation model based on the high penetration of new energy grids in the power market reform, adapts the work focus after changes in the power market business, and explores efficient dispatching business processes for the power spot market to ensure a smooth transition of dispatching work and effective integration of the market business.

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