Most of the current research on operating reserve markets assumes that the required capacity is predetermined, which means that the demand of operating reserve capacity is inelastic. This paper considers that operating reserve capacity in a power system is flexible and that one should optimize it by cost-benefit analysis. Based on the reliability evaluation of the generation system, a clearing model of the operating reserve market is proposed to determine the optimal reserve capacity and simultaneously clear the operating reserve market. The model is discussed on both uniform-price and pay-as-bid auction mechanisms. By using a heuristic method, we suggest an efficient algorithm to solve the model. Case studies for reliability test system (RTS96) demonstrate the usefulness and efficiency of the proposed model.Index Terms-Cost-benefit analysis, operating reserve capacity, power market, reliability.

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This paper presents a macroscopic view on the prevailing policy and potential issues in respect of the sustainable wind power development in China. It starts by analyzing the characteristics of wind power resources and pin-pointing the relationship between the regulatory policies and various economic, taxation, legal and grid integration attributes relating to the wind power development. Then it follows by analyzing the status quo and capabilities of the wind power manufacturing industry in China including its operational efficiency and grid integration standards. The economic and environmental benefits are estimated by relating to the associated costing analysis in respect of the major contributing factors such as manufacturing, operational and financial factors. Results of the associated benefits analysis indicate that the use of the wind power generation helps to save a significant equivalent amount of standard coal consumption resulting to reduction of emission effectively. Finally, the potential of wind power development in China is shown to be affirmative and the sustainable energy policy is effectively implemented in China.

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The Greater Bay Area (GBA) accounts for a high percentage of pollution due to the large number of internal combustion engines. In the past few decades, there has been a significant increase in internal combustion engines vehicles while electric vehicles have not taken off yet in GBA. To a certain extent, the acceptance of electric vehicles is still questionable from the industrial practitioners and local communities. As such, this research study aims to identify the challenges and opportunities of electric vehicles in GBA to address the future direction of electric vehicles in GBA. In this study, it identifies technology and economy as the main driving forces behind the development of electric vehicles. Furthermore, sustainability, safety, and the life of the batteries may induce the slow adoption of electric vehicles. As expected, the study develops a research agenda and contributes new knowledge in the field of electric vehicle.