A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources
A reasonable capacity market mechanism is conducive to exploring the capacity value of different power generation resources and ensuring the adequacy of power supply capacity in power systems. In response to the challenges faced by the existing capacity market mechanism under the background of energ...
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| Format: | Article |
| Language: | English |
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MDPI AG
2025-01-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/18/2/223 |
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| author | Yuanyuan Lou Jiekang Wu Zhen Lei Xinmiao Liu Junlei Liu Xun Lu |
| author_facet | Yuanyuan Lou Jiekang Wu Zhen Lei Xinmiao Liu Junlei Liu Xun Lu |
| author_sort | Yuanyuan Lou |
| collection | DOAJ |
| description | A reasonable capacity market mechanism is conducive to exploring the capacity value of different power generation resources and ensuring the adequacy of power supply capacity in power systems. In response to the challenges faced by the existing capacity market mechanism under the background of energy transformation, such as the unreasonable quantification of the support effect of different power generation resources on the power capacity of power system and the imperfect pricing mechanism of power capacity, a capacity market mechanism for power systems with high proportion renewable energy has been designed. To quickly clarify the capacity support effect of different power generation resources, a capacity credibility factor is introduced to quantify the actual contribution of different power generation resources in capacity supply and to deeply explore the capacity value of power generation resources. Based on the uniform marginal clearing price in the capacity market, the marginal clearing price of different power generation resources is corrected by using the cost ratio factor, which includes the difference in the cost structure of power generation resources. By comparing and analyzing examples, the proposed cost ratio factor can effectively optimize the capacity price; the maximum price difference is 18.2 yuan/MW, the overall capacity cost of the system is reduced by 53.70%, and the effective connection between fixed cost and variable cost of power generation resources is realized. |
| format | Article |
| id | doaj-art-640bb85b3e304694beeb9676b6d778ae |
| institution | Kabale University |
| issn | 1996-1073 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj-art-640bb85b3e304694beeb9676b6d778ae2025-01-24T13:30:41ZengMDPI AGEnergies1996-10732025-01-0118222310.3390/en18020223A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation ResourcesYuanyuan Lou0Jiekang Wu1Zhen Lei2Xinmiao Liu3Junlei Liu4Xun Lu5Guangdong Power Grid Co., Ltd., Guangzhou 510600, ChinaSchool of Automation, Guangdong University of Technology, Guangzhou 510006, ChinaSchool of Automation, Guangdong University of Technology, Guangzhou 510006, ChinaGuangdong Power Grid Co., Ltd., Guangzhou 510600, ChinaGuangdong Power Grid Co., Ltd., Guangzhou 510600, ChinaGuangdong Power Grid Co., Ltd., Guangzhou 510600, ChinaA reasonable capacity market mechanism is conducive to exploring the capacity value of different power generation resources and ensuring the adequacy of power supply capacity in power systems. In response to the challenges faced by the existing capacity market mechanism under the background of energy transformation, such as the unreasonable quantification of the support effect of different power generation resources on the power capacity of power system and the imperfect pricing mechanism of power capacity, a capacity market mechanism for power systems with high proportion renewable energy has been designed. To quickly clarify the capacity support effect of different power generation resources, a capacity credibility factor is introduced to quantify the actual contribution of different power generation resources in capacity supply and to deeply explore the capacity value of power generation resources. Based on the uniform marginal clearing price in the capacity market, the marginal clearing price of different power generation resources is corrected by using the cost ratio factor, which includes the difference in the cost structure of power generation resources. By comparing and analyzing examples, the proposed cost ratio factor can effectively optimize the capacity price; the maximum price difference is 18.2 yuan/MW, the overall capacity cost of the system is reduced by 53.70%, and the effective connection between fixed cost and variable cost of power generation resources is realized.https://www.mdpi.com/1996-1073/18/2/223capacity marketenergy structurerenewable energymarginal clearancecapacity credible factorcost proportion factor |
| spellingShingle | Yuanyuan Lou Jiekang Wu Zhen Lei Xinmiao Liu Junlei Liu Xun Lu A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources Energies capacity market energy structure renewable energy marginal clearance capacity credible factor cost proportion factor |
| title | A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources |
| title_full | A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources |
| title_fullStr | A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources |
| title_full_unstemmed | A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources |
| title_short | A Mechanism Framework for Clearing Prices in Electricity Market Based on Trusted Capacity of Power Generation Resources |
| title_sort | mechanism framework for clearing prices in electricity market based on trusted capacity of power generation resources |
| topic | capacity market energy structure renewable energy marginal clearance capacity credible factor cost proportion factor |
| url | https://www.mdpi.com/1996-1073/18/2/223 |
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