In this paper, in order to investigate whether the impact of different forms of interest rate differential may pass on to the flexible price monetary model, two flexible price monetary models, which are separately der...In this paper, in order to investigate whether the impact of different forms of interest rate differential may pass on to the flexible price monetary model, two flexible price monetary models, which are separately derived from the generalized monetary models with log-level interest rate differential and that with interest rate differential, are tested for China yuan to US dollar exchange rate. Through Johansen maximum likelihood method, we find that there is little support in the cointegrating coefllcient estimates for both flexible price monetary models for yuan/dollar exchange rate. However, the latter is generally better than the former in the light of sum of squared residual and log likelihood statistics. Therefore, we conclude that there is no transitive impact of different forms of interest rate differential on the flexible price monetary model.展开更多
With the extensive integration of high-penetration renewable energy resources,more fast-response frequency regulation(FR)providers are required to eliminate the impact of uncertainties from loads and distributed gener...With the extensive integration of high-penetration renewable energy resources,more fast-response frequency regulation(FR)providers are required to eliminate the impact of uncertainties from loads and distributed generators(DGs)on system security and stability.As a high-quality FR resource,community integrated energy station(CIES)can effectively respond to frequency deviation caused by renewable energy generation,helping to solve the frequency problem of power system.This paper proposes an optimal planning model of CIES considering FR service.First,the model of FR service is established to unify the time scale of FR service and economic operation.Then,an optimal planning model of CIES considering FR service is proposed,with which the revenue of participating in the FR service is obtained under market mechanism.The flexible electricity pricing model is introduced to flatten the peak tieline power of CIES.Case studies are conducted to analyze the annual cost and the revenue of CIES participating in FR service,which suggest that providing ancillary services can bring potential revenue.展开更多
基金This project is supported by National Natural Science Foundation of China （70371055）
文摘In this paper, in order to investigate whether the impact of different forms of interest rate differential may pass on to the flexible price monetary model, two flexible price monetary models, which are separately derived from the generalized monetary models with log-level interest rate differential and that with interest rate differential, are tested for China yuan to US dollar exchange rate. Through Johansen maximum likelihood method, we find that there is little support in the cointegrating coefllcient estimates for both flexible price monetary models for yuan/dollar exchange rate. However, the latter is generally better than the former in the light of sum of squared residual and log likelihood statistics. Therefore, we conclude that there is no transitive impact of different forms of interest rate differential on the flexible price monetary model.
基金supported by the National Key R&D Program of China(No.2018YFB0905000)National Natural Science Foundation of China(No.51961135101)。
文摘With the extensive integration of high-penetration renewable energy resources,more fast-response frequency regulation(FR)providers are required to eliminate the impact of uncertainties from loads and distributed generators(DGs)on system security and stability.As a high-quality FR resource,community integrated energy station(CIES)can effectively respond to frequency deviation caused by renewable energy generation,helping to solve the frequency problem of power system.This paper proposes an optimal planning model of CIES considering FR service.First,the model of FR service is established to unify the time scale of FR service and economic operation.Then,an optimal planning model of CIES considering FR service is proposed,with which the revenue of participating in the FR service is obtained under market mechanism.The flexible electricity pricing model is introduced to flatten the peak tieline power of CIES.Case studies are conducted to analyze the annual cost and the revenue of CIES participating in FR service,which suggest that providing ancillary services can bring potential revenue.
