A Nash-Cournot approach to assessing flexible ramping products

Chen, Qixin; Zou, Peng; Wu, Chenye; Zhang, Junliu; Li, Ming; Xia, Qing; Chen, Kang

doi:10.1016/j.apenergy.2017.08.031

Cited by 23 publications

(8 citation statements)

References 16 publications

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“…It is capable to reserve capacity for fluctuation and uncertainty of net load in the following time interval by dispatching flexible resources. 6,7 An optimal day-ahead electricity-FRP market framework is proposed in, 8 where the influence of FRP on market equilibrium is analyzed by establishing a bi-level optimization model. To determine the capacity of FRP more precisely, a Gumbel-copula based multi-interval method is modified in.…”

Section: Literature Review and Research Gapsmentioning

confidence: 99%

Joint energy and flexiramp market equilibrium model for regional‐integrated electricity‐heat systems considering flexibility exploitation of district heating networks

Wang

Chen

et al. 2021

Energy Science & Engineering

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As an impetus for worldwide social development, energy resources, especially renewable energy resources, are being valued over the past decades. 1,2 Meanwhile, the influence imposed by the fluctuation and uncertainty 3 of the increasing renewable energy integrated into the power system is non-negligible. Especially in power distribution networks (PDNs), the blossom of distributed renewable energy technology places higher requirements

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Section: Literature Review and Research Gapsmentioning

confidence: 99%

Joint energy and flexiramp market equilibrium model for regional‐integrated electricity‐heat systems considering flexibility exploitation of district heating networks

Wang

Chen

et al. 2021

Energy Science & Engineering

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“…This model divides the energy by meeting Eqs. (17), (18), (19) and (20 (22) where subscript total and a max of EX define the total install capacity and maximum daily transmission. Then, the total FERs of whole bulk system corresponding meet the following constraints, , , = , + , + is a quadratic function whose coefficient is positive and satisfies the necessary and sufficient conditions of a convex function ∇ 2 ( ) ≥ 0.…”

Section: Fers Economic Dispatchmentioning

confidence: 99%

Flexible Resources Planning for Bulk Energy System With High Penetration of Renewable Energy Based on Bash Game

Hu¹,

Chen

Wang³

et al. 2020

IEEE Access

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The recent blackout in UK indicates that the adequacy of flexible resources is a significant factor for the stability of bulk energy system under the high integration of renewable energy. This paper proposes a planning model that incorporates various flexible resources into uncertain energy system and hence optimizes the unites' capacity and dispatch schedule. Based on Bash Game theory, the optimization capacity and dispatch schedule problems are formulated accordingly. Without setting the capacity configuration variable, the model initiatively considers the stochastic nature of RE at the planning stage. To simplify the complexity of the planning model, the problem is relaxation decoupled into two convex subissues, which achieves dramatic improvements in solution time. The novel model has been simulated both under IEEE-39 system and IEEE-118 system and hence the model's performance has been tested. Under the proposed model, the energy system can operate in a secure, economic and optimal state. Results demonstrate the effectiveness of the proposed method in applying to the future energy system. INDEX TERMS flexible resources planning, Bash game, high penetration of renewable energy, bulk energy system. I. Nomenclature Economic coefficients Economic coefficients () Power range of RE Economic coefficients Unit cost of the regional power transmission Replacement cost of ES Operation cost of ES Investment of ES cov() Covariance between the ranks E Nominal capacity Maximum daily transmission. Output of the regional power transmission Total available capacity of EX Function relation of RE and FERs 1 Function relation of cost and active power 2 Function relation of cost and reactive power Capacity of FERs Maximum capacity of FERs ,

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“…The effect of considering FRP on the existence of electricity market equilibrium has explored in [22], where the strategic behaviors of players have been modeled as a stochastic equilibrium. In order to appraise the effect of FRP on market, a Nash-Cournot approach was exploited in [23]. The paper has modeled FRP in the day-ahead stage.…”

Section: Players' Strategic Behavior and Frpmentioning

confidence: 99%

“…Maximum ramp-up and -down of the consumed power of DRAs are bounded in(18) and(19), respectively. Analogous to generating units, (20)-(23) are responsible to initialize the consumed power of DRAs and stand for their counterparts in (16)-(19), respectively. The capacities of ramp-up and -down capability of demands are limited by their maximum ramp-rates in (24)-(25), respectively.…”

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confidence: 99%

Electricity Market Assessment in Wind Energy Integrated Power Systems with the Potential of Flexibility: A Boundary Condition Approach

Gharibpour

Amini-far²

2019

Scientia Iranica

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This paper focuses on a dynamic equilibrium considering the flexible ramp market and demand response resources. With ever-swelling installation of variable renewable energies, demand response programs can play an important role in mitigating the system ramping deficiency. Hence in this paper, the ramping capability of demand response resources in procuring system ramp requirement is considered. The strategic behavior of different players is modeled through a multi-leader-common-follower game, in which suppliers and demand response aggregators are laid as the leaders and market operator is considered as the single follower of the game. In addition, a dynamic forward rolling process to find equilibria at the real-time market is proposed. The effect of considering demand response resources and flexible ramp penalty price on the strategic behavior of players in equilibrium is evaluated. Finally, the effectiveness of the proposed approach is verified on a three-firm system. While revealing demand response resources roles in mitigating ramping deficiency, the results show that how penalty price on flexible ramp violation can lead uplift payments to be formed.

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A Nash-Cournot approach to assessing flexible ramping products

Cited by 23 publications

References 16 publications

Joint energy and flexiramp market equilibrium model for regional‐integrated electricity‐heat systems considering flexibility exploitation of district heating networks

Joint energy and flexiramp market equilibrium model for regional‐integrated electricity‐heat systems considering flexibility exploitation of district heating networks

Flexible Resources Planning for Bulk Energy System With High Penetration of Renewable Energy Based on Bash Game

Electricity Market Assessment in Wind Energy Integrated Power Systems with the Potential of Flexibility: A Boundary Condition Approach

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