Simulation and Regulation of Market Operation in Hydro-Dominated Environment: The Yunnan Case

Chen, Fu; Liu, Benxi; Cheng, Chuntian; Mirchi, Ali

doi:10.3390/w9080623

Cited by 11 publications

(3 citation statements)

References 29 publications

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“…The study by Aliabadi et al (2017) concluded bidding decisionmaking by simulating the bidding behaviors of generators under different market modes, such as capacity and auxiliary market. Chen et al (2017) applied the same method in another hydro-dominated environment for the power generation system in Yunnan Province of China.…”

Section: Figurementioning

confidence: 99%

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

Shuai

Ma²,

Huang³

et al. 2022

Front. Energy Res.

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The electricity market is evolving rapidly from pre-bid to spot markets, where the transactions between producers and consumers have become crucial and are vulnerable to safety risks. In addition, the new modes of transaction are also becoming popular and are said to have some risks. To reveal the impact of the new electricity transaction mode—spot market—on the safety risk and generation benefit, this article presents a simulation method connecting the transaction results and operation process. To verify the effectiveness of the proposed method, an actual cascade hydropower station (CHS) in the Dadu River basin, Southwestern China, which comprises eight hydropower stations, is selected. Hydraulic power matching among the CHSs is discriminated from four aspects with multiple indicators combined with the reality of a hydropower-dominated market in Sichuan, China. The dispatching decision-making process of hydropower generators is described with a multi-objective optimization model and then solved with a fast search strategy based on the classical output calculation method in hydrology. The security risks and economic damage hidden in the day-ahead market on a certain day are discovered and analyzed. The technology proposed provides support for bidding decisions in spot transactions and satisfies the reality during the transition period of electricity reform.

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Section: Figurementioning

confidence: 99%

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

Shuai

Ma²,

Huang³

et al. 2022

Front. Energy Res.

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show abstract

“…Theoretically, maximizing the expected value of net revenue involves modeling the probability density function of the continuous and correlated stochastic streamflow processes and evaluating the expectation using integration [28,29]. This process could be computationally intractable with several periods considered.…”

Section: Stochastic Programming Model For Conflict Resolutionmentioning

confidence: 99%

Analysis of a Stochastic Programming Model for Optimal Hydropower System Operation under a Deregulated Electricity Market by Considering Forecasting Uncertainty

Zhong

Du³

et al. 2018

Water

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In a deregulated electricity market, optimal hydropower operation should be achieved through informed decisions to facilitate the delivery of energy production in forward markets and energy purchase level from other power producers within real-time markets. This study develops a stochastic programming model that considers the influence of uncertain streamflow on hydropower energy production and the effect of variable spot energy prices on the cost of energy purchase (energy shortfall). The proposed model is able to handle uncertainties expressed by both a probability distribution and discretized scenarios. Conflicting decisions are resolved by maximizing the expected value of net revenue, which jointly considers benefit and cost terms under uncertainty. Methodologies are verified using a case study of the Three Gorges cascade hydropower system. The results demonstrate that optimal operation policies are derived based upon systematic evaluations on the benefit and cost terms that are affected by multiple uncertainties. Moreover, near-optimal operation policy under the case of inaccurate spot price forecasts is also analyzed. The results also show that a proper policy for guiding hydropower operation seeks the best compromise between energy production and energy purchase levels, which explores their nonlinear tradeoffs over different time periods.

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“…Over the past four years, most provinces and regions have been actively trying to get involved in the reform and have continuously improved the market operation rules. Although the market is still constrained by many factors, the hydropower plants in some provinces of southwestern China have successfully participated in the yearly and monthly electricity markets [3,4]. It is foreseeable that a competitive and stable electricity market environment will be formed in the future.…”

Section: Introductionmentioning

confidence: 99%

Long-Term Generation Scheduling for Cascade Hydropower Plants Considering Price Correlation between Multiple Markets

Luo

Miao²,

Cheng

et al. 2019

Energies

Self Cite

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The large-scale cascade hydropower plants in southwestern China now challenge a multi-market environment in the new round of electricity market reform. They not only have to supply the load for the local provincial market, but also need to deliver electricity to the central and eastern load centers in external markets, which makes the generation scheduling much more complicated, with a correlated uncertain market environment. Considering the uncertainty of prices and correlation between multiple markets, this paper has proposed a novel optimization model of long-term generation scheduling for cascade hydropower plants in multiple markets to seek for the maximization of overall benefits. The Copula function is introduced to describe the correlation of stochastic prices between multiple markets. The price scenarios that obey the Copula fitting function are then generated and further reduced by using a scenario reduction strategy that combines hierarchical clustering and inconsistent values. The proposed model is applied to perform the long-term generation scheduling for the Wu River cascade hydropower plants and achieves an increase of 106.93 million yuan of annual income compared with the conventional scheduling model, without considering price scenarios, showing better performance in effectiveness and robustness in multiple markets.

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Simulation and Regulation of Market Operation in Hydro-Dominated Environment: The Yunnan Case

Cited by 11 publications

References 29 publications

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

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

Analysis of a Stochastic Programming Model for Optimal Hydropower System Operation under a Deregulated Electricity Market by Considering Forecasting Uncertainty

Long-Term Generation Scheduling for Cascade Hydropower Plants Considering Price Correlation between Multiple Markets

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