Large-scale hybrid power plants, composed of two or more generation sources and with the participation of energy storage systems, have driven important electricity Market Design regulation discussions worldwide. Regul...Large-scale hybrid power plants, composed of two or more generation sources and with the participation of energy storage systems, have driven important electricity Market Design regulation discussions worldwide. Regulatory framework ought to be adapted to support technical particularities of these new generation arranges. This paper presents an assessment of the main requirements to be met by Market Design to enable hybrid power plants by means of assertive market incentives. Assessing regulatory adjustments promoted in Australia, United States, India, China, and Brazil, emphasizing the latter one, the authors presents a case study by applying specific computational simulation and optimization model to a hybrid Hydro-Solar plant, that supports the findings for the necessary evolution needed in the national regulatory framework in order to enable hybrid projects. The evaluation of international experiences indicates that the insertion of hybrid projects is associated with the design of the market they belong to and demand regulatory adjustments so that their attributes can be properly valued for the benefit of all stakeholders, especially for the electricity consumer.展开更多
Accomodation of power system constraints with the market mechanism is encountered as a major challenge along the way toward implementation of different electricity market designs. Allocation of fixe or flow-dependent ...Accomodation of power system constraints with the market mechanism is encountered as a major challenge along the way toward implementation of different electricity market designs. Allocation of fixe or flow-dependent inter-zone trading capacities by the PX (power exchange) can not be accepted unreservedly. The paper is meant to show that a nodal electricity market design that is based on bids for local energy and a regulated transmission access including allocation of "entry-exit" transmission capacity would be the desired solution. The market players could easily optimize their portfolio while the TSOs (transmission system operators) are requested to mobilize the network's in-built flexibility to increase the cross zonal capacity. In the proposed market design, the PX's allocation of trading capacity is clearly separate from the TSO's management of the power system operational constraint5. Clear operator roles would enlarge access to electricity market as well as market integration of variable RESs (renewable energy sources) that are critically dependent on short notice access to regionat markets,展开更多
We argue that owing to traders’inability to fully express their preferences over the execution times of their orders,contemporary stock market designs are prone to latency arbitrage.In turn,we propose a new order typ...We argue that owing to traders’inability to fully express their preferences over the execution times of their orders,contemporary stock market designs are prone to latency arbitrage.In turn,we propose a new order type,which allows traders to specify the time at which their orders are executed after reaching the exchange.Using recent latency data,we demonstrate that the order type proposed here allows traders to synchronize order executions across different exchanges,such that high-frequency traders,even if they operate at the speed of light,can no-longer engage in latency arbitrage.展开更多
Decarbonization in the power sector is one of the critical factors in achieving carbon neutrality,and the top-level design needs to be carried out from the perspective of power planning.A multi-stage provincial power ...Decarbonization in the power sector is one of the critical factors in achieving carbon neutrality,and the top-level design needs to be carried out from the perspective of power planning.A multi-stage provincial power expansion planning(PPEP)model is proposed to simulate the power expansion planning at different stages of the power systems rich in renewable energy generation.This model covers 16 types of power supply,considering macro-policy demands and micro-operation constraints.The stand-alone capacity aggregation model for coal-based units within the PPEP model allows for accurate construction and retirement with different stand-alone capacities.Moreover,the soft dynamic time warping(soft-DTW)based K-medoids technique is adopted to generate typical scenarios for balancing the model accuracy and solution efficiency.Additionally,a multi-market trading equilibrium(MMTE)mechanism is proposed to address the differences in the levelized cost of energy between the coal-based and renewable-based units by participating in energy and ancillary service markets.Since the coalbased units take on the task of providing ancillary services from renewable-based units in the ancillary service market,the MMTE mechanism can effectively equalize the profits of both by having renewable-based units purchase ancillary services from coal-based units and pay for them,thus improving the motivation of coal-based units.A case study in Xinjiang province,China,verifies the effectiveness of the planning results of the PPEP model and the profit equilibrium realization of the MMTE mechanism.展开更多
The European electricity and gas markets have been deregulated more than two decades before.From rather diverse starting points,they have continuously evolved over the years to accommodate with new challenges and to i...The European electricity and gas markets have been deregulated more than two decades before.From rather diverse starting points,they have continuously evolved over the years to accommodate with new challenges and to improve integration.Since 2005,these markets have been complemented by the market for emission certificates established by the European Union(EU)emission trading system.Three partly competing paradigms have thereby shaped the markets and continue to drive their on-going transformation:effective competition,subsidiarity and sustainability.展开更多
In this paper,we introduce a bipartite matching model for matching markets with dynamic arrivals and departures.Different from classical models with a finite-time horizon,our model has a long-time horizon with infinit...In this paper,we introduce a bipartite matching model for matching markets with dynamic arrivals and departures.Different from classical models with a finite-time horizon,our model has a long-time horizon with infinite vertices.In our model,the matching goal is to maximize the ratio of matched vertices,i.e.,matched ratio.We define two types of online algorithms,i.e.,Greedy and Patient,analyze their performance with evaluation metrics of both upper bounds and competitive ratios,and conduct extensive simulations to validate our analysis.To further simulate the real situation,we extend our model with the user’s strategic behavior and prove the existence of a specific Nash equilibrium under a differentiated matching mechanism.展开更多
文摘Large-scale hybrid power plants, composed of two or more generation sources and with the participation of energy storage systems, have driven important electricity Market Design regulation discussions worldwide. Regulatory framework ought to be adapted to support technical particularities of these new generation arranges. This paper presents an assessment of the main requirements to be met by Market Design to enable hybrid power plants by means of assertive market incentives. Assessing regulatory adjustments promoted in Australia, United States, India, China, and Brazil, emphasizing the latter one, the authors presents a case study by applying specific computational simulation and optimization model to a hybrid Hydro-Solar plant, that supports the findings for the necessary evolution needed in the national regulatory framework in order to enable hybrid projects. The evaluation of international experiences indicates that the insertion of hybrid projects is associated with the design of the market they belong to and demand regulatory adjustments so that their attributes can be properly valued for the benefit of all stakeholders, especially for the electricity consumer.
文摘Accomodation of power system constraints with the market mechanism is encountered as a major challenge along the way toward implementation of different electricity market designs. Allocation of fixe or flow-dependent inter-zone trading capacities by the PX (power exchange) can not be accepted unreservedly. The paper is meant to show that a nodal electricity market design that is based on bids for local energy and a regulated transmission access including allocation of "entry-exit" transmission capacity would be the desired solution. The market players could easily optimize their portfolio while the TSOs (transmission system operators) are requested to mobilize the network's in-built flexibility to increase the cross zonal capacity. In the proposed market design, the PX's allocation of trading capacity is clearly separate from the TSO's management of the power system operational constraint5. Clear operator roles would enlarge access to electricity market as well as market integration of variable RESs (renewable energy sources) that are critically dependent on short notice access to regionat markets,
文摘We argue that owing to traders’inability to fully express their preferences over the execution times of their orders,contemporary stock market designs are prone to latency arbitrage.In turn,we propose a new order type,which allows traders to specify the time at which their orders are executed after reaching the exchange.Using recent latency data,we demonstrate that the order type proposed here allows traders to synchronize order executions across different exchanges,such that high-frequency traders,even if they operate at the speed of light,can no-longer engage in latency arbitrage.
基金supported in part by the National Natural Science Funds for Distinguished Young Scholar(No.52325703)the Postdoctoral Innovation Talents Support Program(No.BX20220066)+1 种基金the China Postdoctoral Science Foundation(No.2022M720709)the Key Laboratory of Power System Intelligent Dispatch and Control of the Ministry of Education。
文摘Decarbonization in the power sector is one of the critical factors in achieving carbon neutrality,and the top-level design needs to be carried out from the perspective of power planning.A multi-stage provincial power expansion planning(PPEP)model is proposed to simulate the power expansion planning at different stages of the power systems rich in renewable energy generation.This model covers 16 types of power supply,considering macro-policy demands and micro-operation constraints.The stand-alone capacity aggregation model for coal-based units within the PPEP model allows for accurate construction and retirement with different stand-alone capacities.Moreover,the soft dynamic time warping(soft-DTW)based K-medoids technique is adopted to generate typical scenarios for balancing the model accuracy and solution efficiency.Additionally,a multi-market trading equilibrium(MMTE)mechanism is proposed to address the differences in the levelized cost of energy between the coal-based and renewable-based units by participating in energy and ancillary service markets.Since the coalbased units take on the task of providing ancillary services from renewable-based units in the ancillary service market,the MMTE mechanism can effectively equalize the profits of both by having renewable-based units purchase ancillary services from coal-based units and pay for them,thus improving the motivation of coal-based units.A case study in Xinjiang province,China,verifies the effectiveness of the planning results of the PPEP model and the profit equilibrium realization of the MMTE mechanism.
文摘The European electricity and gas markets have been deregulated more than two decades before.From rather diverse starting points,they have continuously evolved over the years to accommodate with new challenges and to improve integration.Since 2005,these markets have been complemented by the market for emission certificates established by the European Union(EU)emission trading system.Three partly competing paradigms have thereby shaped the markets and continue to drive their on-going transformation:effective competition,subsidiarity and sustainability.
基金Shenzhen Municipal Development and Reform Commission,Shenzhen Engineering Laboratory for Data Science and Information Technology,Grant Number SDRC[2015]1872.
文摘In this paper,we introduce a bipartite matching model for matching markets with dynamic arrivals and departures.Different from classical models with a finite-time horizon,our model has a long-time horizon with infinite vertices.In our model,the matching goal is to maximize the ratio of matched vertices,i.e.,matched ratio.We define two types of online algorithms,i.e.,Greedy and Patient,analyze their performance with evaluation metrics of both upper bounds and competitive ratios,and conduct extensive simulations to validate our analysis.To further simulate the real situation,we extend our model with the user’s strategic behavior and prove the existence of a specific Nash equilibrium under a differentiated matching mechanism.