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Keywords

capacity market; electricity market; renewable energy power generation; pricing mechanism

Abstract

With the high proportion of renewable energy generation such as wind, solar, and hydro power integrated into the power system, the low cost of renewable energy generation poses a significant challenge to the cost recovery of traditional thermal power units, resulting in an increasing number of thermal power units exiting the capacity market. Additionally, as renewable energy generation primarily depends on weather conditions, it cannot guarantee sufficient generation capacity during peak load periods. A reasonable pricing mechanism in the capacity market is crucial to address this issue. In response, a multi-energy trading model that considers both the capacity market pricing mechanism and electricity demand is proposed. Firstly, a pricing model that accounts for the load demand and capacity characteristics of traditional thermal power units, wind turbines, photovoltaic (PV) power generation, hydropower, and energy storage at different time intervals is presented for the capacity market level, serving as the main problem. Secondly, a joint optimization scheduling model for thermal power, wind power, PV power, hydropower, and energy storage in the daily spot market is introduced at the electricity trading level, serving as the sub-problem. Then, based on this, through iterative solutions to the main and sub-problems, a capacity pricing mechanism for thermal power, wind power, PV power, hydropower, and energy storage is proposed. Finally, multi-scenario simulations are conducted using an actual power grid as an example, demonstrating the rationality and effectiveness of the proposed scheme.

DOI

10.19781/j.issn.1673-9140.2024.05.027

First Page

270

Last Page

278

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