Curve tracking and comparison during electricity spot trading based on judgment methods for curve similarity

Abstract

Accurate tracking of load curves during transactions in the electricity generation process and timely identification and adjustment of aberrant electricity prices are key to ensuring profits from bidding in the production of enterprises. By selecting three judgement methods for curve similarity, i.e. Euclidean metric, correlation coefficient and mean square error (COE-MSE), and discrete Fréchet distance, this study tracked and compared an electricity generation curve, a transaction curve, and a bidding and declaration curve of a hydropower station where reservoirs have strong regulating capacity in a river basin in the Sichuan Province power grid. The advantages and disadvantages of the three methods were analysed and compared. The results demonstrate that the COE-MSE and discrete Fréchet distance can meet the requirements of electricity generation according to the transaction results when electricity generation enterprises participate in electricity spot trading. Furthermore, the discrete Fréchet distance shows advantages in identifying eigenvalues and tracking trends of the curves.

Simulation of hydraulic power matching–based risk and economic evaluation among cascade hydropower stations in spot transactions

“…Researchers in the literature have achieved some progress in the short-term optimization of CHSs (Sioshansi, 2015;Rasmussen et al, 2016;Apostolopoulou and McCulloch, 2019;Shafiekhani and Badri, 2019;Wang et al, 2019;Lu et al, 2020;Su et al, 2020;Zhang S. et al, 2021). However, there is significant deviation between the linearized solution and actual operation of the power stations (Sioshansi, 2015;Apostolopoulou and McCulloch, 2019).…”

“…In addition, researchers have paid much attention to the bidding strategy, which directly affects the returns of the generating companies (Shafiekhani and Badri, 2019;Wang et al, 2019;Su et al, 2020). The comparison between the bidding and clearing results has been of less concern (Zhang S. et al, 2021), resulting in ignoring key factors such as unit and reservoir operating safety (Lu et al, 2020). So, turning to MOs could be a possible option, but the transition still lacks a distinct clearing model for the hydropower-dominated spot market.…”