Exploring the impacts of major events on the systemic risk of the international energy market

This study examines the systemic risk caused by major events in the international energy market(IEM)and proposes a management strategy to mitigate it. Using the tail-event driven network(TENET)method, this study constructed a tail-risk spillover network(TRSN) of IEM and simulated the dynamic spillover tail-risk process through the cascading failure mechanism. The study found that renewable energy markets contributed more to systemic risk during the Paris Agreement and the COVID-19pandemic, while fossil energy markets played a larger role during the Russia-Ukraine conflict. This study identifies systemically important markets(SM) and critical tail-risk spillover paths as potential sources of systemic risk. The research confirms that cutting off the IEM risk spillover path can greatly reduce systemic risk and the influence of SM. This study offers insights into the management of systemic risk in IEM and provides policy recommendations to reduce the impact of shock events.

Market Operation of Energy Storage System in Smart Grid:A Review

As a flexible resource,energy storage plays an increasingly significant role in stabilizing and supporting the power system,while providing auxiliary services.Still,the current high demand for energy storage contrasts with the fuzzy lack of market-oriented mechanisms for energy storage,the principle of market-oriented operation has not been embodied,and there is no unified and systematic analytical framework for the business model.However,the dispatch management model of energy storage in actual power system operation is not clear.Still,the specific scheduling process and energy storage strategy on the source-load-network side could be more specific,and there needs to be a greater understanding of the collaborative scheduling process of the multilevel scheduling center.On this basis,this paper reviews the energy storage operation model and market-based incentive mechanism,For different functional types and installation locations of energy storage within the power system,the operational models and existing policies for energy storage participation in the market that are adapted to multiple operating states are summarized.From the point of view of the actual scheduling and operation management of energy storage in China,an energy storage regulation and operation management model based on“national,provincial,and local”multilevel coordination is proposed,as well as key technologies in the interactive scenarios of source-load,network and storage.

Optimal Operation Strategy of Electricity-Hydrogen Regional Energy System under Carbon-Electricity Market Trading

Given the“double carbon”objective and the drive toward low-carbon power,investigating the integration and interaction within the carbon-electricity market can enhance renewable energy utilization and facilitate energy conservation and emission reduction endeavors.However,further research is necessary to explore operational optimization methods for establishing a regional energy system using Power-to-Hydrogen(P2H)technology,focusing on participating in combined carbon-electricity market transactions.This study introduces an innovative Electro-Hydrogen Regional Energy System(EHRES)in this context.This system integrates renewable energy sources,a P2H system,cogeneration units,and energy storage devices.The core purpose of this integration is to optimize renewable energy utilization and minimize carbon emissions.This study aims to formulate an optimal operational strategy for EHRES,enabling its dynamic engagement in carbon-electricity market transactions.The initial phase entails establishing the technological framework of the electricity-hydrogen coupling system integrated with P2H.Subsequently,an analysis is conducted to examine the operational mode of EHRES as it participates in carbon-electricity market transactions.Additionally,the system scheduling model includes a stepped carbon trading price mechanism,considering the combined heat and power generation characteristics of the Hydrogen Fuel Cell(HFC).This facilitates the establishment of an optimal operational model for EHRES,aiming to minimize the overall operating cost.The simulation example illustrates that the coordinated operation of EHRES in carbon-electricity market transactions holds the potential to improve renewable energy utilization and reduce the overall system cost.This result carries significant implications for attaining advantages in both low-carbon and economic aspects.

Energy Storage OperationModes in Typical ElectricityMarket and Their Implications for China

As the Chinese government proposes ambitious plans to promote low-carbon transition,energy storage will play a pivotal role in China’s future power system.However,due to the lack of a mature electricity market environment and corresponding mechanisms,current energy storage in China faces problems such as unclear operational models,insufficient cost recovery mechanisms,and a single investment entity,making it difficult to support the rapid development of the energy storage industry.In contrast,European and American countries have already embarked on certain practices in energy storage operation models.Through exploration of key issues such as investment entities,market participation forms,and cost recovery channels in both front and back markets,a wealth of mature experiences has been accumulated.Therefore,this paper first summarizes the existing practices of energy storage operation models in North America,Europe,and Australia’s electricity markets separately from front and back markets,finding that perfect market mechanisms and reasonable subsidy policies are among the main drivers for promoting the rapid development of energy storage markets.Subsequently,combined with the actual development of China’s electricity market,it explores three key issues affecting the construction of costsharing mechanisms for energy storage under market conditions:Market participation forms,investment and operation modes,and cost recovery mechanisms.Finally,in line with the development expectations of China’s future electricitymarket,suggestions are proposed fromfour aspects:Market environment construction,electricity price formation mechanism,cost sharing path,and policy subsidy mechanism,to promote the healthy and rapid development of China’s energy storage industry.

Survey on AI and Machine Learning Techniques for Microgrid Energy Management Systems

In the era of an energy revolution,grid decentralization has emerged as a viable solution to meet the increasing global energy demand by incorporating renewables at the distributed level.Microgrids are considered a driving component for accelerating grid decentralization.To optimally utilize the available resources and address potential challenges,there is a need to have an intelligent and reliable energy management system(EMS)for the microgrid.The artificial intelligence field has the potential to address the problems in EMS and can provide resilient,efficient,reliable,and scalable solutions.This paper presents an overview of existing conventional and AI-based techniques for energy management systems in microgrids.We analyze EMS methods for centralized,decentralized,and distributed microgrids separately.Then,we summarize machine learning techniques such as ANNs,federated learning,LSTMs,RNNs,and reinforcement learning for EMS objectives such as economic dispatch,optimal power flow,and scheduling.With the incorporation of AI,microgrids can achieve greater performance efficiency and more reliability for managing a large number of energy resources.However,challenges such as data privacy,security,scalability,explainability,etc.,need to be addressed.To conclude,the authors state the possible future research directions to explore AI-based EMS's potential in real-world applications.

Evaluation index system of shared energy storage market towards renewable energy accommodation scenario:A China’s Qinghai province context

With the ever-increased installed capacity of renewable energy generation units in a power system,the so-called shared energy storage(SES),a novel business model under the umbrella of the shared economy principle,has the potential to play an essential role in the accommodation of renewable energy generation.However,unified evaluation standards and methods,which can help decision-makers analyze the performance of the SES market,are still not available.In this paper,an evaluation index system of the SES market is designed based on the trading rules of China’s Qinghai province and the structure-conduct-performance(SCP)analytical model.Moreover,the definition and characteristics of the indices,which can show the performance of the SES market from different perspectives,are given.Furthermore,the ideal cases are presented as the evaluation benchmark based on the development expectation of the SES market,and the analytic hierarchy process(AHP)and the technique for order preference by similarity to an ideal solution(TOPSIS)are applied to evaluate the SES market comprehensively.Finally,a case study based on actual data of the SES trading pilot project in Qinghai shows that the evaluation index system can reflect the operation status,existing problems and influencing factors of the SES market.

Modeling Energy Consumption in the Production Processes of Industrial Units Based on Load Response Programs in the Energy Market

The optimal operation of microgrids is of great significance for the sake of efficient and economical management of its energy resources.The microgrid energy management system should plan to operate the microgrid while simultaneously considering the electric and thermal load.The present study proposes energy management to minimize the costs of operating an industrial microgrid.In fact,planning for energy supply is among the critical issues that distribution companies deal with daily in the competitive environment.A distribution company usually meets customer(end customer)demands by purchasing energy from a wholesale market.Given the load curtailment,distribution companies have more choices and interactions in the market.Distribution companies face the two uncertainties of load changes and price fluctuations in their daily energy supply planning which could lead to the risk of loss resulting from the distribution company’s decision-making for daily energy supply planning.Thus,these companies face the challenge of maximizing profit in a risk-based environment.Therefore,the present study presents an optimal model of energy consumption in the production processes of aluminum and cement industrial units.The presented model was then used in planning the day-ahead energy of a microgrid containing these industrial units.Since the studied subject has many limitations,it would be difficult to solve it using mathematical methods.To resolve this issue then,the present study introduces a newly developed algorithm inspired by bee colonies.The proposed method seeks to significantly improve in the local and global search capabilities.In addition to confirming the validity of the proposed model,results indicate that the implementation of load-response programs and the cooperation of industrial units in the ancillary services and energy market can increase the profits of units and microgrids as well as correct the demand curve.According to the obtained results from the first and second test cases,the total profit of the aluminum unit was$188,103 and$237,805,respectively.Similarly,this profit for the cement industrial unit is$104,350 and$233,195.3,respectively.From the results,it can be observed that the final profit of the second unit has increased by 61%.

A Joint Optimization Algorithm for Renewable Energy System

Energy sustainability is a hot topic in both scientific and political cir-cles.To date,two alternative approaches to this issue are being taken.Some peo-ple believe that increasing power consumption is necessary for countries’economic and social progress,while others are more concerned with maintaining carbon consumption under set limitations.To establish a secure,sustainable,and economical energy system while mitigating the consequences of climate change,most governments are currently pushing renewable growth policies.Energy mar-kets are meant to provide consumers with dependable electricity at the lowest pos-sible cost.A profit-maximization optimal decision model is created in the electric power market with the combined wind,solar units,loads,and energy storage sys-tems,based on the bidding mechanism in the electricity market and operational principles.This model utterly considers the technological limits of new energy units and storages,as well as the involvement of new energy and electric vehicles in market bidding through power generation strategy and the output arrangement of the virtual power plant’s coordinated operation.The accuracy and validity of the optimal decision-making model of combined wind,solar units,loads,and energy storage systems are validated using numerical examples.Under multi-operating scenarios,the effects of renewable energy output changes on joint sys-tem bidding techniques are compared.

Energy-Efficient Operation of Water Systems through Optimization of Load Power Reduction in Electricity Markets

Demand response(DR) is gaining more and more importance in the architecture of power systems in a context of flexible loads and high share of intermittent generation. Changes in electricity markets regulation in several countries have recently enabled an effective integration of DR mechanisms in power systems. Through its flexible components(pumps, tanks), drinking water systems are suitable candidates for energy-efficient DR mechanisms. However, these systems are often managed independently of power system operation for both economic and operational reasons. Indeed, a sufficient level of economic viability and water demands risk management are necessary for water utilities to integrate their flexibilities to power system operation. In this paper,we proposed a mathematical model for optimizing pump schedules in water systems while trading DR blocs in a spot power market during peak times. Uncertainties about water demands were considered in the mathematical model allowing to propose power reductions covering the potential risk of real-time water demand forecasting inaccuracy.Numerical results were discussed on a real water system in France, demonstrating both economic and ecological benefits.

COVID‑19 pandemic and the crude oil market risk:hedging options with non‑energy financial innovations

This study examines the hedging effectiveness of financial innovations against crude oil investment risks,both before and during the COVID-19 pandemic.We focus on the non-energy exchange traded funds(ETFs)as proxies for financial innovations given the potential positive correlation between energy variants and crude oil proxies.We employ a multivariate volatility modeling framework that accounts for important statistical features of the non-energy ETFs and oil price series in the computation of optimal weights and optimal hedging ratios.Results show evidence of hedging effectiveness for the financial innovations against oil market risks,with higher hedging performance observed during the pandemic.Overall,we show that sectoral financial innovations provide resilient investment options.Therefore,we propose that including the ETFs in an investment portfolio containing oil could improve risk-adjusted returns,especially in similar financial crisis as witnessed during the pandemic.In essence,our results are useful for investors in the global oil market seeking to maximize risk-adjusted returns when making investment decisions.Moreover,by exploring the role of structural breaks in the multivariate volatility framework,our attempts at establishing robustness for the results reveal that ignoring the same may lead to wrong conclusions about the hedging effectiveness.

Cross-correlation analysis of crude oil and new energy markets: A new perspective based on carbon emission market

Taking the return series of the EU carbon allowance price, WTI crude oil price, the European renewable energy index and Shenzhen carbon emission price, Daqing crude oil price, the China securities new energy index as sample data, the multifractal detrend cross-correlation analysis method(MF-DCCA)is used to research the dynamic cross-correlation relationships among the carbon emission market, crude oil market and the new energy market in Europe and China and the source of the multifractality. The empirical analysis shows that the cross-correlations among the carbon emission market, crude oil market and new energy market in Europe and China have all significant multifractal characteristics. Moreover, the multifractal strength of cross-correlation between the carbon emission market and crude oil market is less than that between the carbon emission market and new energy market in Europe. The Chinese market is the opposite. In addition, the multifractal strength of cross-correlation between the crude oil market and new energy market in Europe is more than that between the crude oil market and new energy market in China. It is also found that the long-range correlation of the sequences themselves and the fat-tailed distribution in fluctuations are the common causes of the multifractality, and the fat-tailed in fluctuations distribution contributes more to the multifractals of the series.

Energy Management of Networked Smart Railway Stations Considering Regenerative Braking, Energy Storage System, and Photovoltaic Units

The networking of microgrids has received significant attention in the form of a smart grid.In this paper,a set of smart railway stations,which is assumed as microgrids,is connected together.It has been tried to manage the energy exchanged between the networked microgrids to reduce received energy from the utility grid.Also,the operational costs of stations under various conditions decrease by applying the proposed method.The smart railway stations are studied in the presence of photovoltaic(PV)units,energy storage systems(ESSs),and regenerative braking strategies.Studying regenerative braking is one of the essential contributions.Moreover,the stochastic behaviors of the ESS’s initial state of energy and the uncertainty of PV power generation are taken into account through a scenario-based method.The networked microgrid scheme of railway stations(based on coordinated operation and scheduling)and independent operation of railway stations are studied.The proposed method is applied to realistic case studies,including three stations of Line 3 of Tehran Urban and Suburban Railway Operation Company(TUSROC).The rolling stock is simulated in the MATLAB environment.Thus,the coordinated operation of networked microgrids and independent operation of railway stations are optimized in the GAMS environment utilizing mixed-integer linear programming(MILP).

Construction practice of market system for energy saving renovation of existing buildings

The energy-saving reconstruction market of existing buildings is a complex system.It includes three subsystems:service market,capital market and technology market.The service market takes the relationship between energy service companies and owners as the core to establish service associated relationships.The capital market is based on the mechanism of"investment guarantees and risk sharing"to form structures of the capital market.The technology market relies on the"industry-university-research"mode to build technology supporting platforms.Being interdependent and mutually restricted,the three subsystems form the complete system of existing buildings in energy-saving reconstruction.

Modeling the Physical Parameters of Solenoids for MEMS Applications

The paper is devoted to study of the electrical parameters of the motion parts of the MEMS such as solenoids. The analytical background is given in order to describe the influence of the electrical field components on the forces, which are result of interaction of the electromagnetic (EM) field components with the parts of motion devices of MEMS. The given analytical formulas open the ability to calculate the self-inductance of the microsolenoids of the different kind, as well as the stored energy of such motion devices, that could be used for the modeling and optimization of parameters of running devices of MEMS such as actuators, sensors etc.

Technical System Construction in the Market Trading System for Demand Response Based on the Energy Internet

With the explosive growth of variable renewable energy,the balance between the supply and demand of the power grid is faced with new challenges.Based on the development experience from typical countries and the state quo in China,this paper further analyzes the system architecture and development trend of demand response under the background of Energy Internet.Five dimensions are considered:Energy Internet platform,demand response application scenarios,system architecture,information technology system construction,and demand response development trend.The results show that the application of the Energy Internet platform can effectively solve the problems of data acquisition and processing,“terminal-edge-network-cloud”cooperation of demand response,etc.The system architecture of the demand response platform that supports user resource management,user information access,control instruction receiving,control strategy issuing,and response process monitoring is proposed in this paper.It is also helpful to provide a feasible technical choice for expanding the application services of Energy Internet towards government and society.

Supply and demand subject behavior of building energy efficiency in market fostering

Consumers and developers are the market transaction subjects which drive the development of building energy efficiency market. High energy prices, unreasonable heating system, information asymmetry of building energy suppress demand of energy efficiency construction; high technical risk and construction cost, nonstandard market restrict the supply of energy efficiency construction. To promote the development of building energy efficiency, we must set up effective incentive policies for both sides of the market transaction, improve the supervisory system, promote the technological progress, build the information sharing platform, so as to achieve the purpose of cultivating and improving the building energy efficiency market system, regulating the behavior of supply and demand subject, building the mutually beneficial and cooperative partnership, and realizing the balance of interests.

PEM电解制氢技术问题及现状分析

对国内外质子交换膜(Proton exchange membrane,简称PEM)电解制氢市场、技术进行了全面的分析,同时对PEM电解槽、制氢系统及可再生能源制氢存在的技术问题进行了探讨,提出了解决措施。分析表明,国外PEM制氢系统无论市场还是技术都处于领先地位,其中电解槽电流密度和寿命,以及制氢系统腐蚀防护技术、系统内部纯水净化控制技术、系统噪音控制技术和安全控制技术都优于国内产品。膜电极的氢气渗透率、催化剂的负载种类和形式,气体扩散层的材料替代、加工制造技术和耐久性的改性优化,以及双极板的厚度、板材替代、制造工艺和表面涂层沉积工艺等是PEM电解槽主要研究方向和突破点。如何解决可再生能源电源质量波动对电解制氢系统的不利影响是未来的发展方向。

Renewable Energy Legislation in China:Politicaland Institutional Strategy for EffectiveImplementation

Over the past decade, the Chinese government has developed several plans regulations and policy measures related to the development of renewable energy technologies and has implemented a series of pilot projects. Chinese policymakers have spent several years studying how renewable energy policy models that have been used internationally could be implemented in China. Programs are currently underway to implement pilot renewable portfolio standards, or mandatory market shares (MMS) for renewable energy, in several provinces. This paper examines the primary institutions that are involved in promoting renewable policies in China, the structure of the policies that currently are being drafted, and the status of the complementary, national-level renewable energy law being drafted to provide a legal basis for ongoing local and national-level policies. It then examines the legal requirements for promoting renewable energy legislation under the Chinese law-making system. Finally, it provides recommendations

ENERGY MANAGEMENT STRATEGY FOR PARALLEL HYBRID ELECTRIC VEHICLES

Energy management strategy (EMS) is the core of the real-time controlalgorithm of the hybrid electric vehicle (HEV). A novel EMS using the logic threshold approach withincorporation of a stand-by optimization algorithm is proposed. The aim of it is to minimize theengine fuel consumption and maintain the battery state of charge (SOC) in its operation range, whilesatisfying the vehicle performance and drivability requirements. The hybrid powertrain bench testis carried out to collect data of the engine, motor and battery pack, which are used in the EMS tocontrol the powertrain. Computer simulation model of the HEV is established in the MATLAB/Simulinkenvironment according to the bench test results. Simulation results are presented for behaviors ofthe engine, motor and battery. The proposed EMS is implemented for a real parallel hybrid carcontrol system and validated by vehicle field tests.

DEVELOPMENT OF THE ENERGY MANAGEMENT STRATEGY FOR PARALLEL HYBRID ELECTRIC URBAN BUSES

A novel parallel hybrid electrical urban bus （PHEUB） configuration consisting of an extra one-way clutch and an automatic mechanical transmission （AMT） is taken as the study subject. An energy management strategy combining a logic threshold approach and an instantaneous optimization algorithm is proposed for the investigated PHEUB. The objective of the energy management strategy is to achieve acceptable vehicle performance and drivability requirements while simultaneously maximizing the engine fuel consumption and maintaining the battery state of charge in its operation range at all times. Under the environment of Matlab/Simulink, a computer simulation model for the PHEUB is constructed by using the model building method combining theoretical analysis and bench test data. Simulation and experiment results for China Typical Bus Driving Schedule at Urban District （CTBDS_UD） are obtained, and the results indicate that the proposed control strategy not only controls the hybrid system efficiently but also improves the fuel economy significantly.