Spot Market Mechanism Design for the Electricity Market in China Considering the Impact of a Contract Market

Zhang, Chen; Yan, Wei

doi:10.3390/en12061064

Cited by 10 publications

(4 citation statements)

References 30 publications

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“…The question of a suitable day ahead market design for a better integration of VRE has been the subject of a great deal of research (see, e.g., [7][8][9][10]). For the particular case of an effective gate closure, the potential solution discussed by the research community involves its adjustment to a time closer to the first hour of delivery.…”

Section: Introductionmentioning

confidence: 99%

Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study

et al. 2019

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Currently, in most European electricity markets, power bids are based on forecasts performed 12 to 36 hours ahead. Actual wind power forecast systems still lead to large errors, which may strongly impact electricity market outcomes. Accordingly, this article analyzes the impact of the wind power forecast uncertainty and the change of the day-ahead market gate closure on both the market-clearing prices and the outcomes of the balancing market. To this end, it presents a simulation-based study conducted with the help of an agent-based tool, called MATREM. The results support the following conclusion: a change in the gate closure to a time closer to real-time operation is beneficial to market participants and the energy system generally.

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Section: Introductionmentioning

confidence: 99%

Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study

et al. 2019

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“…The validity parameter, also known as the effect index, determines the carrying capacity of the decision tree model for the enterprise electronic contract risk data. When the number of pruning nodes remains unchanged, the larger the value of the validity parameter, the stronger the carrying capacity of the decision tree model mechanism for the risk data [9].…”

Section: Validity Parametersmentioning

confidence: 99%

Prediction method of electronic contract performance risk based on decision tree model

Xiang¹,

Lu²,

Zhang³

et al. 2023

International Conference on Computer Graphics, Artificial Intelligence, and Data Processing (ICCAID 2022)

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In the Internet environment, an electronic contract is a necessary transaction condition for business cooperation between enterprises. To avoid the risk factors in enterprise electronic contracts and promote the smooth progress of business cooperation, this paper researches the prediction method of enterprise electronic contract performance risk based on the decision tree model. On the basis of the decision tree model, the key nodes are pruned, and then the validity parameters are combined to complete the collection and analysis of enterprise electronic contract risk data. According to the distribution characteristics of risk factors, the performance reliability conditions are improved. The prediction of electronic contract performance risk is realized by solving the value range of prediction parameters. The experimental results indicate that under the decision tree model, the maximum accuracy of risk vector extraction in the process of electronic contract performance reaches 97. 5%, which has outstanding application value in avoiding risk factors and promoting business cooperation between enterprises.

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“…In the centralized market, PX receives the quotation of each generation company and determines the winning bid of each generation company through the specified market-clearing algorithm. The goal of market clearing is to minimize the total generation cost and determine a unified market-clearing price for all generation companies (Yang et al, 2019;Zhang and Yan, 2019). Without considering network constraints, the optimal model of market-clearing can be expressed as (Faraji et al, 2020).…”

Section: Planning-market Electricity Allocation Model Of Pxmentioning

confidence: 99%

Optimal Electricity Allocation Model Under China's Planning-Market Double-Track Mechanism Considering Bidding Game of Generation Companies

Cui

et al. 2021

Front. Energy Res.

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In China, under the planning-market double-track mechanism implemented on the generation side of electricity, unreasonable market-oriented power generation proportion may lead to unnecessary vicious competition and market price changes, and it is against the will of power exchange (PX). Given this background, in this study, a bi-level model for planning-market electricity allocation that considers the bidding game of generation companies is proposed for a smooth transition of power system reform. In the upper level of the model, the proportion of planned electricity is optimized by PX to minimize the average social electricity purchase price. In the lower level of the model, considering the impact of market power on the bidding strategy of generation companies, the bidding strategy of generation companies set as price makers is proposed using the residual demand curve analysis method, while the price takers adopt the lowest bidding strategy. Simulations based on data from a provincial electricity market in China illustrate that the proposed model can effectively reflect the impact of market-oriented electricity proportion on market power and market-clearing price, thus providing a quantitative basis for PX to determine the proportion of market-oriented electricity in total electricity consumption.

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Spot Market Mechanism Design for the Electricity Market in China Considering the Impact of a Contract Market

Cited by 10 publications

References 30 publications

Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study

Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study

Prediction method of electronic contract performance risk based on decision tree model

Optimal Electricity Allocation Model Under China's Planning-Market Double-Track Mechanism Considering Bidding Game of Generation Companies

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