Equilibrium analysis has been widely studied as an effective tool to model gaming interactions and predict market results.However,as competition modes are fundamentally changed by the decarbonization and decentralizat...Equilibrium analysis has been widely studied as an effective tool to model gaming interactions and predict market results.However,as competition modes are fundamentally changed by the decarbonization and decentralization of power systems,analysis techniques must evolve.This article comprehensively reviews recent developments in modelling methods,practical settings and solution tech-niques in equilibrium analysis.Firstly,we review equilibrium in the evolving wholesale power markets which feature new entrants,novel trading products and multi-stage clearing.Secondly,the competition modes in the emerging distribution market and distributed resource aggregation are reviewed,and we compare peer-to-peer clearing,cooperative games and Stackelberg games.Further-more,we summarize the methods to treat various information acquisition degrees,risk preferences and rationalities of market par-ticipants.To deal with increasingly complex market settings,this review also covers refined analytical techniques and agent-based models used to compute the equilibrium.Finally,based on this review,this paper summarizes key issues in the gaming and equilibrium analysis in power markets under decarbonization and decentralization.展开更多
With the increasing penetration of renewables,power systems have to operate with greater flexibility to address the uncertainties of renewable output.This paper develops an uncertainty locational marginal price(ULMP)m...With the increasing penetration of renewables,power systems have to operate with greater flexibility to address the uncertainties of renewable output.This paper develops an uncertainty locational marginal price(ULMP)mechanism to price these uncertainties.They are denoted as box deviation intervals as suggested by the market participants.The ULMP model solves a robust optimal power flow(OPF)problem to clear market bids,aiming to minimize the system cost as a prerequisite that the reserve margin can address all the relevant uncertainties.The ULMP can be obtained as a by-product of the optimization problem from the Lagrange multipliers.Under the ULMP mechanism,renewables and consumers with uncertainty will make extra payments,and the thermals and financial transmission right(FTR)holders will be compensated.It is further shown that the proposed mechanism has preferable properties,such as social efficiency,budget balance and individual rationality.Numerical tests are conducted on the modified IEEE 5-bus and 118-bus systems to demonstrate the merits and applicability of the proposed mechanism.展开更多
基金supported by NSFC-NWO International Cooper-ation project under Grant 52161135201by National Natural and Science Foundation of China under Grant U2066205。
文摘Equilibrium analysis has been widely studied as an effective tool to model gaming interactions and predict market results.However,as competition modes are fundamentally changed by the decarbonization and decentralization of power systems,analysis techniques must evolve.This article comprehensively reviews recent developments in modelling methods,practical settings and solution tech-niques in equilibrium analysis.Firstly,we review equilibrium in the evolving wholesale power markets which feature new entrants,novel trading products and multi-stage clearing.Secondly,the competition modes in the emerging distribution market and distributed resource aggregation are reviewed,and we compare peer-to-peer clearing,cooperative games and Stackelberg games.Further-more,we summarize the methods to treat various information acquisition degrees,risk preferences and rationalities of market par-ticipants.To deal with increasingly complex market settings,this review also covers refined analytical techniques and agent-based models used to compute the equilibrium.Finally,based on this review,this paper summarizes key issues in the gaming and equilibrium analysis in power markets under decarbonization and decentralization.
基金supported in part by the National Natural Science Foundation of China(No.51620105007)in part the UNSW(University of New South Wales)&Tsinghua University Collaborative Research Fund(RG193827/2018Z)。
文摘With the increasing penetration of renewables,power systems have to operate with greater flexibility to address the uncertainties of renewable output.This paper develops an uncertainty locational marginal price(ULMP)mechanism to price these uncertainties.They are denoted as box deviation intervals as suggested by the market participants.The ULMP model solves a robust optimal power flow(OPF)problem to clear market bids,aiming to minimize the system cost as a prerequisite that the reserve margin can address all the relevant uncertainties.The ULMP can be obtained as a by-product of the optimization problem from the Lagrange multipliers.Under the ULMP mechanism,renewables and consumers with uncertainty will make extra payments,and the thermals and financial transmission right(FTR)holders will be compensated.It is further shown that the proposed mechanism has preferable properties,such as social efficiency,budget balance and individual rationality.Numerical tests are conducted on the modified IEEE 5-bus and 118-bus systems to demonstrate the merits and applicability of the proposed mechanism.
