2019
DOI: 10.3390/en12244663
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Research and Application of Continuous Bidirectional Trading Mechanism in Yunnan Electricity Market

Abstract: To further promote market competition, enrich trading varieties, alleviate information asymmetry, and improve trading efficiency during electricity market reform in China, the continuous bidirectional transaction (CBT) was designed and applied in the Yunnan electricity market (YNEM), which is dominated by medium- and long-term power energy trading. The clearing model for the CBT with the goal of maximum social welfare is proposed in two bidding stages, including call auction (CA) and continuous double auction … Show more

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Cited by 9 publications
(10 citation statements)
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“…If only renewable electricity is used for settlement, there is a deviation of about 270 MWh. If the penalty cost is settled by the deviation assessment mechanism, the on-grid power price of coal-fired units is 284 yuan (44.52 USD)/MW, and the deviation assessment cost is about 85,125.26 yuan (13,343.77 USD). The deviation assessment mechanism is usually settled monthly, and the change of total electricity in the cycle can be offset by the current electricity deviation, in order to reduce the average daily deviation assessment cost.…”
Section: Scenarios Setting and Results Analysismentioning
confidence: 99%
See 1 more Smart Citation
“…If only renewable electricity is used for settlement, there is a deviation of about 270 MWh. If the penalty cost is settled by the deviation assessment mechanism, the on-grid power price of coal-fired units is 284 yuan (44.52 USD)/MW, and the deviation assessment cost is about 85,125.26 yuan (13,343.77 USD). The deviation assessment mechanism is usually settled monthly, and the change of total electricity in the cycle can be offset by the current electricity deviation, in order to reduce the average daily deviation assessment cost.…”
Section: Scenarios Setting and Results Analysismentioning
confidence: 99%
“…Presently, combined with the market structure and trading products in various countries, the market operation mainly includes two modes: decentralized power market and centralized power market. The decentralized power market is mainly based on the mediumand long-term physical contract-that is, the power physics contract [13]. The amount of contract power can be independently decomposed into daily power amount by the buyers and sellers willingly, and the actual operation deviation power is adjusted through the day-ahead and real-time balance transaction.…”
Section: Power Market Modesmentioning
confidence: 99%
“…Therefore, there is an urgent need for a market-oriented transaction model which will guide the investment direction accurately, improve the initiative of generators, and reduce the waste of low-carbon and renewable energy (Zhang et al, 2018;Zhang Z. et al, 2021). But the power system reform that came in 2015 introduced more intense competition in the electricity market (Lei et al, 2018); since then, generators can complete medium and long-term contract transactions skillfully (Yu et al, 2019). However, since August 2017, Sichuan and the other seven provinces have been…”
Section: Research Problem and Literature Reviewmentioning
confidence: 99%
“…Building on the results of the forecasted energy, the bedrock of the P2P energy trading market is an efficient auction and pricing mechanism. In most of the related literature that researches into P2P energy trading, a twosided continuous double auction has been simulated [10], [14]- [17]. Spurred by the three principles of decarbonization, decentralization, and digitalization, the energy market has positioned itself towards a decentralized approach with an increased emergence of microgrids, virtual power plants, and P2P energy markets [18].…”
Section: Figure 1 Annual Count Of Related Publications To P2p Energy ...mentioning
confidence: 99%