The increasing complexity of China’s electricity market creates substantial challenges for settlement automation,data consistency,and operational scalability.Existing provincial settlement systems are fragmented,lack...The increasing complexity of China’s electricity market creates substantial challenges for settlement automation,data consistency,and operational scalability.Existing provincial settlement systems are fragmented,lack a unified data structure,and depend heavily on manual intervention to process high-frequency and retroactive transactions.To address these limitations,a graph-based unified settlement framework is proposed to enhance automation,flexibility,and adaptability in electricity market settlements.A flexible attribute-graph model is employed to represent heterogeneousmulti-market data,enabling standardized integration,rapid querying,and seamless adaptation to evolving business requirements.An extensible operator library is designed to support configurable settlement rules,and a suite of modular tools—including dataset generation,formula configuration,billing templates,and task scheduling—facilitates end-to-end automated settlement processing.A robust refund-clearing mechanism is further incorporated,utilizing sandbox execution,data-version snapshots,dynamic lineage tracing,and real-time changecapture technologies to enable rapid and accurate recalculations under dynamic policy and data revisions.Case studies based on real-world data from regional Chinese markets validate the effectiveness of the proposed approach,demonstrating marked improvements in computational efficiency,system robustness,and automation.Moreover,enhanced settlement accuracy and high temporal granularity improve price-signal fidelity,promote cost-reflective tariffs,and incentivize energy-efficient and demand-responsive behavior among market participants.The method not only supports equitable and transparent market operations but also provides a generalizable,scalable foundation for modern electricity settlement platforms in increasingly complex and dynamic market environments.展开更多
To implement the previously formulated principles of sustainable economic development, all solutions of the linear system of equations and inequalities, which are satisfied by the vector of real consumption, are compl...To implement the previously formulated principles of sustainable economic development, all solutions of the linear system of equations and inequalities, which are satisfied by the vector of real consumption, are completely described. It is established that the vector of real consumption with the minimum level of excess supply is determined by the solution of some quadratic programming problem. The necessary and sufficient conditions are established under which the economic system, described by the “input-output” production model, functions in the mode of sustainable development. A complete description of the equilibrium states for which markets are partially cleared in the economy model of production “input-output” is given, on the basis that all solutions of system of linear equations and inequalities are completely described. The existence of a family of taxation vectors in the “input-output” model of production, under which the economic system is able to function in the mode of sustainable development, is proved. Restrictions were found for the vector of taxation in the economic system, under which the economic system is able to function in the mode of sustainable development.展开更多
Energy storage systems(ESSs)operate as independent market participants and collaborate with photovoltaic(PV)generation units to enhance the flexible power supply capabilities of PV units.However,the dynamic variations...Energy storage systems(ESSs)operate as independent market participants and collaborate with photovoltaic(PV)generation units to enhance the flexible power supply capabilities of PV units.However,the dynamic variations in the profitability of ESSs in the electricity market are yet to be fully understood.This study introduces a dual-timescale dynamics model that integrates a spot market clearing(SMC)model into a system dynamics(SD)model to investigate the profit-aware capacity growth of ESSs and compares the profitability of independent energy storage systems(IESSs)with that of an ESS integrated within a PV(PV-ESS).Furthermore,this study aims to ascertain the optimal allocation of the PV-ESS.First,SD and SMC models were set up.Second,the SMC model simulated on an hourly timescale was incorporated into the SD model as a subsystem,a dual-timescale model was constructed.Finally,a development simulation and profitability analysis was conducted from 2022 to 2040 to reveal the dynamic optimal range of PV-ESS allocation.Additionally,negative electricity prices were considered during clearing processes.The simulation results revealed differences in profitability and capacity growth between IESS and PV-ESS,helping grid investors and policymakers to determine the boundaries of ESSs and dynamic optimal allocation of PV-ESSs.展开更多
A bidding model of neural network was presented to pursue the largest benefit according to the policy of separating power plants from network and bidding transaction. This model bases on the cost of power plant and it...A bidding model of neural network was presented to pursue the largest benefit according to the policy of separating power plants from network and bidding transaction. This model bases on the cost of power plant and its research object is a power plant in the market. The market clearing price (MCP) can be predicted and an optimized load curve can be decided in this model. The model may provide technical support for the power plant.展开更多
The hydrothermal scheduling in the electric power market becomes difficult because of introducing competition and considering sorts of constraints. An augmented Lagrangian approach is adopted to solve the problem,whic...The hydrothermal scheduling in the electric power market becomes difficult because of introducing competition and considering sorts of constraints. An augmented Lagrangian approach is adopted to solve the problem,which adds to the standard Lagrangian function a quadratic penalty term without changing its dual property,and reduces the oscillation in iterations. According to the theory of large system coordination and decomposition,the problem is divided into hydro sub-problem and thermal sub-problem,which are coordinated by updating the Lagrangian multipliers,then the optimal solution is obtained. Our results for a test system show that the augmented Lagrangian approach can make the problem converge into the optimal solution quickly.展开更多
An improved network flow algorithm, which includes the minimum cost network flow and the same period network flow, is proposed to solve the optimization of cascaded hydroelectric power plants in a competitive electric...An improved network flow algorithm, which includes the minimum cost network flow and the same period network flow, is proposed to solve the optimization of cascaded hydroelectric power plants in a competitive electricity market. The typical network flow is used to find the feasible flow and add the discharge water to different cascaded hydroelectric power plants at the same step. The same period network flow is used to find the optimal flow and add the power output at a different step. This new algorithm retains the advantages of the typical network flow, such as simplicity and ease of realization. The result of the case analysis indicates that the new algorithm can achieve high calculation precision and can be used to calculate the optimal operation of cascaded hydroelectric power plants.展开更多
The principles of sustainable economic development are formulated on the basis of the developed concept of description of economic systems. Mathematical algorithms for finding equilibrium states were built and the con...The principles of sustainable economic development are formulated on the basis of the developed concept of description of economic systems. Mathematical algorithms for finding equilibrium states were built and the conditions for complete clearing of the markets were found. The definition of the phenomenon of recession is given and theorems are established that formulate the conditions for the existence of a recession in the economic system. The recession depth parameter is introduced. For the input-output production model, the necessary and sufficient conditions under which the economic system functions in a profitable mode have been established. The conditions for supply vectors of firms for special technological mappings and consumers demand under which complete clearing of markets takes place are found.展开更多
With the increasing number of distributed flexible resources with energy storage capabilities in virtual power plants(VPPs),the traditional market clearing model that only includes quantity and price bids cannot fully...With the increasing number of distributed flexible resources with energy storage capabilities in virtual power plants(VPPs),the traditional market clearing model that only includes quantity and price bids cannot fully unlock their potential flexibility.In light of this,we propose a market clearing model for energy-constrained virtual power plants(EC-VPPs)based on distributionally robust chance-constrained optimization(DRCCO)with moment information.Furthermore,to address the uncertainty of EC-VPPs in the electricity market,a pricing strategy for EC-VPPs is proposed.This strategy helps quantify the impact of uncertainty in EC-VPPs on the system economy.The proposed market clearing model is reformulated as a tractable mixed-integer second-order cone programming(MISOCP)problem via a two-sided distributionally robust chance-constrained convex reformulation method.Numerical simulations verify that the proposed pricing strategy offers fair incentives for both reserve providers and uncertain sources,and delivers an effective market mechanism for the EC-VPPs.展开更多
With the implementation of the integrated electricity and gas market(IEGM),the smart energy hubs(SEHs)tend to participate in the market clearing for the optimization of the energy purchase portfolio.Meanwhile,the rene...With the implementation of the integrated electricity and gas market(IEGM),the smart energy hubs(SEHs)tend to participate in the market clearing for the optimization of the energy purchase portfolio.Meanwhile,the renewable energy is mushrooming at different scales of energy systems,which can introduce utility-level and distribution-level uncertainties to the operation of the IEGM and SEHs,respectively.Considering the impacts of divergent uncertainties,there exist complicated interactions between the IEGM clearing and the robust bidding of SEHs.The lack of consideration of such interactions may lead to inaccurate modeling of the IEGM clearing and cause potential market inefficiency.To handle this,a bi-level robust clearing framework of the IEGM considering the robust bidding of SEHs is proposed,which simultaneously considers the impacts of utility-level and distribution-level uncertainties.The proposed framework is partitioned into two levels.The upper level is the robust clearing mechanism of the IEGM.At this level,the uncertainty locational marginal electricity and gas prices are derived considering the utility-level uncertainties and the uncertainty-based bidding of SEHs.Given the price signals deduced in the upper level,the lower-level robust bidding of the SEH seeks the optimal bidding strategies while hedging against distribution-level uncertainties.To address the proposed framework,an effective algorithm combining column-and-constraint generation(C&CG)algorithm with the best-response decomposition(BRD)algorithm is formulated.The devised algorithm can efficiently solve the individual robust optimization model and coordinate the interaction of two levels.Numerical experiments are carried out to verify the effectiveness of the proposed framework.Moreover,the impacts of uncertainties on the market clearing results along with the optimal biddings of SEHs are further demonstrated within the proposed framework.展开更多
Multiple energy carriers can be coupled as an Integrated Energy System (IES) through interconnection tech- nologies. Unexpected risks will be transferred with the growing coupling of energy systems, mainly stemming fr...Multiple energy carriers can be coupled as an Integrated Energy System (IES) through interconnection tech- nologies. Unexpected risks will be transferred with the growing coupling of energy systems, mainly stemming from the uncertain- ties in different energy sectors. It is imperative to coordinate the operation of different energy systems to improve energy efficiency and ensure energy security. With the close integration of different energy systems, it is necessary to couple these different energy markets to achieve the holistic energy supply economy. On the other hand, uncertainties in the energy systems will bring the financial risk for the operator of IES. A risk-averse stochastic market clearing model for the IES is proposed to study the operating strategy aiming at minimizing the operation cost. While the financial risk imposed by the wind power uncertainties is restricted to a predefined level. Simulations results are provided to verify that the proposed model can improve market efficiency and handle the trade-off between cost and risk.展开更多
The existing electricity market mechanisms designed to promote the consumption of renewable energy generation complicate network participation in market transactions owing to an unfair market competition environment,w...The existing electricity market mechanisms designed to promote the consumption of renewable energy generation complicate network participation in market transactions owing to an unfair market competition environment,where the low cost renewable energy generation is not reflected in the high bidding price of high cost conventional energy generation.This study addresses this issue by proposing a bi-level optimization based two-stage market clearing model that considers the bidding strategies of market players,and guarantees the accommodation of renewable energy generation.The first stage implements a dual-market clearing mechanism that includes a unified market for trading the power generations of both renewable energy and conventional energy units,and a subsidy market reserved exclusively for conventional generation units.A re-adjustment clearing mechanism is then proposed in the second stage to accommodate the power generation of remaining renewable energy units after first stage energy allocations.Each stage of the proposed model is further described as a bi-level market equilibrium problem and is solved using a co-evolutionary algorithm.Finally,numerical results involving an improved IEEE 39-bus system dem-onstrate that the proposed two-stage model meets the basic requirements of incentive compatibility and individual rationality.It can facilitate the rational allocation of resources,promote the economical operation of electric power grids,and enhance social welfare.展开更多
High penetration of renewable energy generation(REG)in the distribution system increases both the power uncertainty at a given interval and the power variation between two intervals.Reserve markets addressing power un...High penetration of renewable energy generation(REG)in the distribution system increases both the power uncertainty at a given interval and the power variation between two intervals.Reserve markets addressing power uncertainty have been widely investigated.However,there is a lack of market mechanisms regarding the power variation of the load and REGs.This paper thus defines a planned ramping(PR)product to follow the net load variation and extends the local energy market to include the trading of PR products.Players are economically compensated for their PR products.Bidding models of dispatchable generators and flexible load aggregators in the joint market are investigated.To solve the market problem in polynomial time,a distributed market clearing method is developed based on the ADMM algorithm.The joint market is tested on a modified IEEE 33-bus system.It verifies that introducing the PR market can encourage flexible loads to provide more PR service to accommodate the net load variation.As such,the ramping cost of dispatchable generators is reduced by 29.09%in the test case.The planned energy curtailment from REG is also reduced.The computational efficiency of the proposed distributed clearing method is validated by comparing it with a centralized method.展开更多
基金funded by the Science and Technology Project of State Grid Corporation of China(5108-202355437A-3-2-ZN).
文摘The increasing complexity of China’s electricity market creates substantial challenges for settlement automation,data consistency,and operational scalability.Existing provincial settlement systems are fragmented,lack a unified data structure,and depend heavily on manual intervention to process high-frequency and retroactive transactions.To address these limitations,a graph-based unified settlement framework is proposed to enhance automation,flexibility,and adaptability in electricity market settlements.A flexible attribute-graph model is employed to represent heterogeneousmulti-market data,enabling standardized integration,rapid querying,and seamless adaptation to evolving business requirements.An extensible operator library is designed to support configurable settlement rules,and a suite of modular tools—including dataset generation,formula configuration,billing templates,and task scheduling—facilitates end-to-end automated settlement processing.A robust refund-clearing mechanism is further incorporated,utilizing sandbox execution,data-version snapshots,dynamic lineage tracing,and real-time changecapture technologies to enable rapid and accurate recalculations under dynamic policy and data revisions.Case studies based on real-world data from regional Chinese markets validate the effectiveness of the proposed approach,demonstrating marked improvements in computational efficiency,system robustness,and automation.Moreover,enhanced settlement accuracy and high temporal granularity improve price-signal fidelity,promote cost-reflective tariffs,and incentivize energy-efficient and demand-responsive behavior among market participants.The method not only supports equitable and transparent market operations but also provides a generalizable,scalable foundation for modern electricity settlement platforms in increasingly complex and dynamic market environments.
文摘To implement the previously formulated principles of sustainable economic development, all solutions of the linear system of equations and inequalities, which are satisfied by the vector of real consumption, are completely described. It is established that the vector of real consumption with the minimum level of excess supply is determined by the solution of some quadratic programming problem. The necessary and sufficient conditions are established under which the economic system, described by the “input-output” production model, functions in the mode of sustainable development. A complete description of the equilibrium states for which markets are partially cleared in the economy model of production “input-output” is given, on the basis that all solutions of system of linear equations and inequalities are completely described. The existence of a family of taxation vectors in the “input-output” model of production, under which the economic system is able to function in the mode of sustainable development, is proved. Restrictions were found for the vector of taxation in the economic system, under which the economic system is able to function in the mode of sustainable development.
基金supported by National Natural Science Foundation of China(U2066209)。
文摘Energy storage systems(ESSs)operate as independent market participants and collaborate with photovoltaic(PV)generation units to enhance the flexible power supply capabilities of PV units.However,the dynamic variations in the profitability of ESSs in the electricity market are yet to be fully understood.This study introduces a dual-timescale dynamics model that integrates a spot market clearing(SMC)model into a system dynamics(SD)model to investigate the profit-aware capacity growth of ESSs and compares the profitability of independent energy storage systems(IESSs)with that of an ESS integrated within a PV(PV-ESS).Furthermore,this study aims to ascertain the optimal allocation of the PV-ESS.First,SD and SMC models were set up.Second,the SMC model simulated on an hourly timescale was incorporated into the SD model as a subsystem,a dual-timescale model was constructed.Finally,a development simulation and profitability analysis was conducted from 2022 to 2040 to reveal the dynamic optimal range of PV-ESS allocation.Additionally,negative electricity prices were considered during clearing processes.The simulation results revealed differences in profitability and capacity growth between IESS and PV-ESS,helping grid investors and policymakers to determine the boundaries of ESSs and dynamic optimal allocation of PV-ESSs.
文摘A bidding model of neural network was presented to pursue the largest benefit according to the policy of separating power plants from network and bidding transaction. This model bases on the cost of power plant and its research object is a power plant in the market. The market clearing price (MCP) can be predicted and an optimized load curve can be decided in this model. The model may provide technical support for the power plant.
基金the Specialized Research Fund for the Doctoral Program of High Education(Grant No.20050213006) the Key Science Research Project of Heilongjiang Province(Grant No.GD07A304).
文摘The hydrothermal scheduling in the electric power market becomes difficult because of introducing competition and considering sorts of constraints. An augmented Lagrangian approach is adopted to solve the problem,which adds to the standard Lagrangian function a quadratic penalty term without changing its dual property,and reduces the oscillation in iterations. According to the theory of large system coordination and decomposition,the problem is divided into hydro sub-problem and thermal sub-problem,which are coordinated by updating the Lagrangian multipliers,then the optimal solution is obtained. Our results for a test system show that the augmented Lagrangian approach can make the problem converge into the optimal solution quickly.
文摘An improved network flow algorithm, which includes the minimum cost network flow and the same period network flow, is proposed to solve the optimization of cascaded hydroelectric power plants in a competitive electricity market. The typical network flow is used to find the feasible flow and add the discharge water to different cascaded hydroelectric power plants at the same step. The same period network flow is used to find the optimal flow and add the power output at a different step. This new algorithm retains the advantages of the typical network flow, such as simplicity and ease of realization. The result of the case analysis indicates that the new algorithm can achieve high calculation precision and can be used to calculate the optimal operation of cascaded hydroelectric power plants.
文摘The principles of sustainable economic development are formulated on the basis of the developed concept of description of economic systems. Mathematical algorithms for finding equilibrium states were built and the conditions for complete clearing of the markets were found. The definition of the phenomenon of recession is given and theorems are established that formulate the conditions for the existence of a recession in the economic system. The recession depth parameter is introduced. For the input-output production model, the necessary and sufficient conditions under which the economic system functions in a profitable mode have been established. The conditions for supply vectors of firms for special technological mappings and consumers demand under which complete clearing of markets takes place are found.
基金supported by the National Natural Science Foundation of China(No.52407089).
文摘With the increasing number of distributed flexible resources with energy storage capabilities in virtual power plants(VPPs),the traditional market clearing model that only includes quantity and price bids cannot fully unlock their potential flexibility.In light of this,we propose a market clearing model for energy-constrained virtual power plants(EC-VPPs)based on distributionally robust chance-constrained optimization(DRCCO)with moment information.Furthermore,to address the uncertainty of EC-VPPs in the electricity market,a pricing strategy for EC-VPPs is proposed.This strategy helps quantify the impact of uncertainty in EC-VPPs on the system economy.The proposed market clearing model is reformulated as a tractable mixed-integer second-order cone programming(MISOCP)problem via a two-sided distributionally robust chance-constrained convex reformulation method.Numerical simulations verify that the proposed pricing strategy offers fair incentives for both reserve providers and uncertain sources,and delivers an effective market mechanism for the EC-VPPs.
基金supported by the Science and Technology Project of State Grid Corporation(No.5108-202218280A-2-449-XG)。
文摘With the implementation of the integrated electricity and gas market(IEGM),the smart energy hubs(SEHs)tend to participate in the market clearing for the optimization of the energy purchase portfolio.Meanwhile,the renewable energy is mushrooming at different scales of energy systems,which can introduce utility-level and distribution-level uncertainties to the operation of the IEGM and SEHs,respectively.Considering the impacts of divergent uncertainties,there exist complicated interactions between the IEGM clearing and the robust bidding of SEHs.The lack of consideration of such interactions may lead to inaccurate modeling of the IEGM clearing and cause potential market inefficiency.To handle this,a bi-level robust clearing framework of the IEGM considering the robust bidding of SEHs is proposed,which simultaneously considers the impacts of utility-level and distribution-level uncertainties.The proposed framework is partitioned into two levels.The upper level is the robust clearing mechanism of the IEGM.At this level,the uncertainty locational marginal electricity and gas prices are derived considering the utility-level uncertainties and the uncertainty-based bidding of SEHs.Given the price signals deduced in the upper level,the lower-level robust bidding of the SEH seeks the optimal bidding strategies while hedging against distribution-level uncertainties.To address the proposed framework,an effective algorithm combining column-and-constraint generation(C&CG)algorithm with the best-response decomposition(BRD)algorithm is formulated.The devised algorithm can efficiently solve the individual robust optimization model and coordinate the interaction of two levels.Numerical experiments are carried out to verify the effectiveness of the proposed framework.Moreover,the impacts of uncertainties on the market clearing results along with the optimal biddings of SEHs are further demonstrated within the proposed framework.
基金This work was supported in part by the Science and Technology Project of State Grid Corporation of China(No.5211JY180014)the fund of China Scholarship Council(CSC).
文摘Multiple energy carriers can be coupled as an Integrated Energy System (IES) through interconnection tech- nologies. Unexpected risks will be transferred with the growing coupling of energy systems, mainly stemming from the uncertain- ties in different energy sectors. It is imperative to coordinate the operation of different energy systems to improve energy efficiency and ensure energy security. With the close integration of different energy systems, it is necessary to couple these different energy markets to achieve the holistic energy supply economy. On the other hand, uncertainties in the energy systems will bring the financial risk for the operator of IES. A risk-averse stochastic market clearing model for the IES is proposed to study the operating strategy aiming at minimizing the operation cost. While the financial risk imposed by the wind power uncertainties is restricted to a predefined level. Simulations results are provided to verify that the proposed model can improve market efficiency and handle the trade-off between cost and risk.
基金supported by the National Natural Science Foundation of China 51937005the Natural Science Foundation of Guangdong Province 2019A1515010689.
文摘The existing electricity market mechanisms designed to promote the consumption of renewable energy generation complicate network participation in market transactions owing to an unfair market competition environment,where the low cost renewable energy generation is not reflected in the high bidding price of high cost conventional energy generation.This study addresses this issue by proposing a bi-level optimization based two-stage market clearing model that considers the bidding strategies of market players,and guarantees the accommodation of renewable energy generation.The first stage implements a dual-market clearing mechanism that includes a unified market for trading the power generations of both renewable energy and conventional energy units,and a subsidy market reserved exclusively for conventional generation units.A re-adjustment clearing mechanism is then proposed in the second stage to accommodate the power generation of remaining renewable energy units after first stage energy allocations.Each stage of the proposed model is further described as a bi-level market equilibrium problem and is solved using a co-evolutionary algorithm.Finally,numerical results involving an improved IEEE 39-bus system dem-onstrate that the proposed two-stage model meets the basic requirements of incentive compatibility and individual rationality.It can facilitate the rational allocation of resources,promote the economical operation of electric power grids,and enhance social welfare.
文摘High penetration of renewable energy generation(REG)in the distribution system increases both the power uncertainty at a given interval and the power variation between two intervals.Reserve markets addressing power uncertainty have been widely investigated.However,there is a lack of market mechanisms regarding the power variation of the load and REGs.This paper thus defines a planned ramping(PR)product to follow the net load variation and extends the local energy market to include the trading of PR products.Players are economically compensated for their PR products.Bidding models of dispatchable generators and flexible load aggregators in the joint market are investigated.To solve the market problem in polynomial time,a distributed market clearing method is developed based on the ADMM algorithm.The joint market is tested on a modified IEEE 33-bus system.It verifies that introducing the PR market can encourage flexible loads to provide more PR service to accommodate the net load variation.As such,the ramping cost of dispatchable generators is reduced by 29.09%in the test case.The planned energy curtailment from REG is also reduced.The computational efficiency of the proposed distributed clearing method is validated by comparing it with a centralized method.
