Open Access

ARTICLE

Analyzing the Wind-Dominant Electricity Market under Coexistence of Regulated and Deregulated Power Trading

Yirui Li¹, Dongliang Xiao^1,3,*, Haoyong Chen¹, Weijun Cai¹, Josue Campos do Prado²
1 School of Electric Power, South China University of Technology, Guangzhou, 510641, China
2 School of Engineering and Computer Science, Washington State University Vancouver, Vancouver, 98686, USA
3 School of Automation, Guangdong University of Technology, Guangzhou, 510006, China
* Corresponding Author: Dongliang Xiao. Email:
(This article belongs to the Special Issue: Wind Energy Development and Utilization)

Energy Engineering https://doi.org/10.32604/ee.2024.049232

Received 31 December 2023; Accepted 14 March 2024; Published online 24 April 2024

Abstract

Currently, both regulated and deregulated power trading exist in China’s power system, which has caused imbalanced funds in the electricity market. In this paper, a simulation analysis of the electricity market with wind energy resources is conducted, and the calculation methods of unbalanced funds are investigated systematically. In detail, the calculation formulas of unbalanced funds are illustrated based on their definition, and a two-track electricity market clearing model is established. Firstly, the concept of the dual-track system is explained, and the specific calculation formulas of various types of unbalanced funds are provided. Next, considering the renewable energy consumption, the market clearing model based on DC power flow is constructed and solved; by combining fitting methods of mid- and long-term curves, the unbalanced funds are calculated based on clearing results and formulas.

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Keywords

Dual-track system; electricity market; renewable energy; unbalanced funds

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