scholarly journals Supply Curves for Hydro Reservoirs - Estimation and Usage in Large-Scale Electricity Market Models

2019 ◽  
Author(s):  
Christopher Jahns ◽  
Caroline Podewski ◽  
Christoph Weber
Keyword(s):  
Electricity Market ◽  
Large Scale ◽  
Market Models

scholarly journals Supply curves for hydro reservoirs – Estimation and usage in large-scale electricity market models

2020 ◽  
Vol 87 ◽  
pp. 104696 ◽  
Author(s):  
Christopher Jahns ◽  
Caroline Podewski ◽  
Christoph Weber
Keyword(s):  
Electricity Market ◽  
Large Scale ◽  
Market Models

scholarly journals Analyzing Electricity Markets with Increasing Penetration of Large-Scale Renewable Power Generation

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7618
Author(s):  
Chris Johnathon ◽  
Ashish Prakash Agalgaonkar ◽  
Joel Kennedy ◽  
Chayne Planiden
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Large Scale ◽  
Future Research ◽  
Market Models ◽  
Energy Mix ◽  
Renewable Power ◽  
Energy Technologies ◽  
Competitive Prices ◽  
Distinct Features

Global electricity markets are undergoing a rapid transformation in their energy mix to meet commitments towards sustainable electric grids. This change in energy mix engenders significant challenges, specifically concerning the management of non-dispatchable energy resources. System and market operators are required to meet power system security and reliability requirements whilst providing electricity at competitive prices. An overview of electricity markets is provided in this paper with a critical appraisal of each market’s ability to manage the large-scale energy mix transition. This paper provides a commentary on the distinct features of electricity market models implemented around the world and highlights the barriers within these market models that are hindering the energy mix transition. Various researchers and policymakers are proposing solutions and market reforms for the smooth transitioning of the energy mix. This paper presents a systematic review of the proposed solutions in the literature and critiques the effectiveness and ease of implementation of the reviewed solutions. Research gaps and future research directions are indicated to promote further exploration towards the effective integration of large-scale renewable energy technologies.

Risk Aversion in Multilevel Electricity Market Models With Different Congestion Pricing Regimes

2020 ◽  
Author(s):  
Mirjam Ambrosius ◽  
Jonas Egerer ◽  
Veronika Grimm ◽  
Adriaan H. van der Weijde
Keyword(s):  
Risk Aversion ◽  
Electricity Market ◽  
Congestion Pricing ◽  
Market Models

scholarly journals Influence of Wind Power on Modeling of Bidding Strategy in a Promising Power Market with a Modified Gravitational Search Algorithm

2021 ◽  
Vol 11 (10) ◽  
pp. 4438
Author(s):  
Satyendra Singh ◽  
Manoj Fozdar ◽  
Hasmat Malik ◽  
Maria del Valle Fernández Moreno ◽  
Fausto Pedro García Márquez
Keyword(s):  
Wind Power ◽  
Electricity Market ◽  
Large Scale ◽  
Search Algorithm ◽  
Gravitational Search Algorithm ◽  
Optimization Methods ◽  
Bidding Strategy ◽  
Wind Speed Profile ◽  
Gravitational Search ◽  
Modified Gravitational Search Algorithm

It is expected that large-scale producers of wind energy will become dominant players in the future electricity market. However, wind power output is irregular in nature and it is subjected to numerous fluctuations. Due to the effect on the production of wind power, producing a detailed bidding strategy is becoming more complicated in the industry. Therefore, in view of these uncertainties, a competitive bidding approach in a pool-based day-ahead energy marketplace is formulated in this paper for traditional generation with wind power utilities. The profit of the generating utility is optimized by the modified gravitational search algorithm, and the Weibull distribution function is employed to represent the stochastic properties of wind speed profile. The method proposed is being investigated and simplified for the IEEE-30 and IEEE-57 frameworks. The results were compared with the results obtained with other optimization methods to validate the approach.

Bilateral bidding strategy in joint day-ahead energy and reserve electricity markets considering techno-economic-environmental measures

2021 ◽  
pp. 0958305X2110148
Author(s):  
Mojtaba Shivaie ◽  
Mohammad Kiani-Moghaddam ◽  
Philip D Weinsier
Keyword(s):  
Electricity Market ◽  
Large Scale ◽  
Search Algorithm ◽  
Power Grid ◽  
Mathematical Formulation ◽  
Test System ◽  
Bidding Strategy ◽  
Level Problem ◽  
Optimal Bidding ◽  
Environmental Measures

In this study, a new bilateral equilibrium model was developed for the optimal bidding strategy of both price-taker generation companies (GenCos) and distribution companies (DisCos) that participate in a joint day-ahead energy and reserve electricity market. This model, from a new perspective, simultaneously takes into account such techno-economic-environmental measures as market power, security constraints, and environmental and loss considerations. The mathematical formulation of this new model, therefore, falls into a nonlinear, two-level optimization problem. The upper-level problem maximizes the quadratic profit functions of the GenCos and DisCos under incomplete information and passes the obtained optimal bidding strategies to the lower-level problem that clears a joint day-ahead energy and reserve electricity market. A locational marginal pricing mechanism was also considered for settling the electricity market. To solve this newly developed model, a competent multi-computational-stage, multi-dimensional, multiple-homogeneous enhanced melody search algorithm (MMM-EMSA), referred to as a symphony orchestra search algorithm (SOSA), was employed. Case studies using the IEEE 118-bus test system—a part of the American electrical power grid in the Midwestern U.S.—are provided in this paper in order to illustrate the effectiveness and capability of the model on a large-scale power grid. According to the simulation results, several conclusions can be drawn when comparing the unilateral bidding strategy: the competition among GenCos and DisCos facilitates; the improved performance of the electricity market; mitigation of the polluting atmospheric emission levels; and, the increase in total profits of the GenCos and DisCos.

scholarly journals Why electricity market models yield different results: Carbon pricing in a model-comparison experiment

2022 ◽  
Vol 153 ◽  
pp. 111701
Author(s):  
O. Ruhnau ◽  
M. Bucksteeg ◽  
D. Ritter ◽  
R. Schmitz ◽  
D. Böttger ◽  
...  
Keyword(s):  
Electricity Market ◽  
Model Comparison ◽  
Market Models ◽  
Carbon Pricing ◽  
Comparison Experiment

The strategic robustness of oligopoly electricity market models

2017 ◽  
Vol 68 ◽  
pp. 124-132 ◽  
Author(s):  
David M. Newbery ◽  
Thomas Greve
Keyword(s):  
Electricity Market ◽  
Market Models

scholarly journals Voltage Coordination via Communication in Large-Scale Multi-Area Power Systems. Part I: Principal

2012 ◽  
Vol 433-440 ◽  
pp. 7175-7182
Author(s):  
Mohammad Moradzadeh ◽  
René Boel
Keyword(s):  
Power Systems ◽  
Power System ◽  
Electricity Market ◽  
Large Scale ◽  
Electric Power Systems ◽  
Coordination Control ◽  
Coordination Problem ◽  
Control Actions ◽  
System Operator

This two-part paper deals with the coordination of the control actions in a network of many interacting components, where each component is controlled by independent control agents. As a case study we consider voltage control in large electric power systems, where ever-increasing pressures from the liberalization and globalization of the electricity market has led to partitioning the power system into multiple areas each operated by an independent Transmission System Operator (TSO). Coordination of local control actions taken by those TSOs is a very challenging problem as poorly coordinated operation of TSOs may endanger the power system security by increasing the risk of blackouts. This coordination problem involves many other issues such as communication, abstraction and last but not least optimization. This first part of the paper is devoted to the principals of the coordination control, addressing some of those issues using as a case study the problem of coordination control for avoiding voltage collapse in large-scale multi-area power systems.

scholarly journals Long-Term Generation Scheduling for Cascade Hydropower Plants Considering Price Correlation between Multiple Markets

Energies ◽  
2019 ◽  
Vol 12 (12) ◽  
pp. 2239
Author(s):  
Bin Luo ◽  
Shumin Miao ◽  
Chuntian Cheng ◽  
Yi Lei ◽  
Gang Chen ◽  
...  
Keyword(s):  
Electricity Market ◽  
Large Scale ◽  
Copula Function ◽  
Market Environment ◽  
Scheduling Model ◽  
Multiple Markets ◽  
Generation Scheduling ◽  
Hydropower Plants ◽  
Proposed Model

The large-scale cascade hydropower plants in southwestern China now challenge a multi-market environment in the new round of electricity market reform. They not only have to supply the load for the local provincial market, but also need to deliver electricity to the central and eastern load centers in external markets, which makes the generation scheduling much more complicated, with a correlated uncertain market environment. Considering the uncertainty of prices and correlation between multiple markets, this paper has proposed a novel optimization model of long-term generation scheduling for cascade hydropower plants in multiple markets to seek for the maximization of overall benefits. The Copula function is introduced to describe the correlation of stochastic prices between multiple markets. The price scenarios that obey the Copula fitting function are then generated and further reduced by using a scenario reduction strategy that combines hierarchical clustering and inconsistent values. The proposed model is applied to perform the long-term generation scheduling for the Wu River cascade hydropower plants and achieves an increase of 106.93 million yuan of annual income compared with the conventional scheduling model, without considering price scenarios, showing better performance in effectiveness and robustness in multiple markets.

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