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Processes
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Evaluation, Decision–Making and Market Simulation of a New Type of...
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Evaluation, Decision–Making and Market Simulation of a New Type of Power System

A special issue of Processes (ISSN 2227-9717). This special issue belongs to the section "Energy Systems".

Deadline for manuscript submissions: 15 July 2025 | Viewed by 5278

Special Issue Editors

Dr. Yuqing Wang

E-Mail Website
Guest Editor
Department of Economic Management, North China Electric Power University (Baoding), Baoding 071000, China
Interests: energy economy; electricity market; integrated energy system; virtual power plant
Dr. Houqi Dong

E-Mail Website
Guest Editor
Department of Electrical Engineering, Tsinghua University, Beijing 100084, China
Interests: power system planning and operation; electricity market
Dr. Liying Wang

E-Mail Website
Guest Editor
Department of Economic Management, North China Electric Power University (Baoding), Baoding 071003, China
Interests: electricity market; demand response; integrated energy system

Special Issue Information

Dear Colleagues,

Under the strategy of low-carbon energy transition, the integration of renewable energy sources, advancements in technology, and dynamic changes in the market are driving major changes in power systems. The traditional paradigms of power generation, distribution, and consumption are giving way to more complex, interconnected, and dynamic systems. To address the challenges of safety, stability, and economic operation brought about by this transformation into a new type of power system, it is important to start from the aspects of evaluating technical adaptability, optimizing system structure and state, and the design of market mechanisms. Through collaborative efforts at the technical, system planning, operation, and market levels, these issues can be jointly solved to ensure the sustainable and efficient operation of a new type of power system.

This Special Issue on the evaluation, decision-making and market simulation of a new type of power system seeks high-quality works focusing on the latest novel advances in the evaluation of system performance, system optimization, and in the market mechanism for a new type of power system. Topics of interest include, but are not limited to, the following:

  • Performance evaluation and selection of new technologies in power systems;
  • Investment and planning decision of novel power engineering projects;
  • Optimization of carbon flow in power systems;
  • Electricity–carbon market design and simulation;
  • Power system safety and resilience;
  • The management of energy and power enterprises.

Dr. Yuqing Wang
Dr. Houqi Dong
Dr. Liying Wang
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Processes is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • new type of power system
  • performance evaluation
  • power system planning
  • operation optimization
  • investment decision
  • electricity–carbon market
  • power system resilience
  • power enterprise management

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Published Papers (7 papers)

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Research

20 pages, 1490 KiB  
Article
Research on Industry–Economy–Energy–Carbon Emission Relationships Based on Panel Vector Autoregressive Modeling
by Qi He, Qiheng Yuan, Xiang Chen, Peng Jiang, Yongli Wang and Yuyang Li
Processes 2025, 13(4), 1107; https://doi.org/10.3390/pr13041107 - 7 Apr 2025
Viewed by 255
Abstract
This study focused on the dynamic relationships among industrial development, energy consumption, economic growth, and carbon emissions in China, with the goal of achieving long-term ecological sustainability. Using the Panel Vector Autoregressive (PVAR) model and Generalized Method of Moments (GMM) estimation, panel data [...] Read more.
This study focused on the dynamic relationships among industrial development, energy consumption, economic growth, and carbon emissions in China, with the goal of achieving long-term ecological sustainability. Using the Panel Vector Autoregressive (PVAR) model and Generalized Method of Moments (GMM) estimation, panel data from 30 Chinese provinces between 2017 and 2021 were analyzed. The impulse response analysis and variance decomposition demonstrated that industrial and economic subsystems significantly influenced carbon emissions, while the energy subsystem had a moderating effect. These results highlight a shift in China’s energy consumption structure, with industrial and economic activities driving carbon emissions, while energy consumption patterns slowed the increase in emissions. These findings have critical implications for understanding the interactions among industry, economy, energy, and carbon emissions. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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22 pages, 4990 KiB  
Article
Modeling the Tripartite Coupling Dynamics of Electricity–Carbon–Renewable Certificate Markets: A System Dynamics Approach
by Zhangrong Pan, Yuexin Wang, Junhong Guo, Xiaoxuan Zhang, Song Xue, Wei Li, Zhuo Chen and Zhenlu Liu
Processes 2025, 13(3), 868; https://doi.org/10.3390/pr13030868 - 15 Mar 2025
Viewed by 459
Abstract
To ensure a smooth transition towards peak carbon emissions and carbon neutrality, one key strategy is to promote a low-carbon transition in the energy sector by facilitating the coordinated development of the electricity market, carbon market, and other markets. Currently, China’s national carbon [...] Read more.
To ensure a smooth transition towards peak carbon emissions and carbon neutrality, one key strategy is to promote a low-carbon transition in the energy sector by facilitating the coordinated development of the electricity market, carbon market, and other markets. Currently, China’s national carbon market primarily focuses on the power generation industry. High-energy-consuming industries such as the steel industry not only participate in the electricity market but also play a significant role in China’s future carbon market. Despite existing research on market mechanisms, there remains a significant research gap in understanding how steel enterprises adjust their trading behaviors to optimize costs in multi-market coupling contexts. This study employs a system dynamics approach to model the trading interconnection between electricity trading (ET), carbon emission trading (CET), and tradable green certificates (TGC). Within this multi-market system, thermal power enterprises and renewable generators serve as suppliers of carbon allowances and green certificates, respectively, while steel companies must meet both carbon emission constraints and renewable energy consumption obligations. The results show that companies can reduce future market transaction costs by increasing the proportion of medium to long-term electricity contracts and the purchase ratio of green electricity. Additionally, a lower proportion of free quotas leads to increased costs in the carbon market transactions in later stages. Therefore, it is beneficial for steel companies to conduct cost analyses of their participation in multivariate market transactions in the long run and adapt to market changes in advance and formulate rational market trading strategies. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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22 pages, 1200 KiB  
Article
An Interphase Short-Circuit Fault Location Method for Distribution Networks Considering Topological Flexibility
by Hua Xie, Zhe Liu, Kai Li, Qifang Chen, Chao Yang and Tong Li
Processes 2025, 13(3), 782; https://doi.org/10.3390/pr13030782 - 7 Mar 2025
Viewed by 539
Abstract
The location of faults in distribution networks represents a crucial line of defence, ensuring the safe and reliable operation of these networks. This paper puts forth a methodology for the location of short-circuit faults between phases within the context of a distribution network [...] Read more.
The location of faults in distribution networks represents a crucial line of defence, ensuring the safe and reliable operation of these networks. This paper puts forth a methodology for the location of short-circuit faults between phases within the context of a distribution network information physics system. Firstly, a distribution network topology identification model is constructed, and a switching function based on the characteristics of an interphase short-circuit fault current is constructed to form a physical layer interphase short-circuit preconceived fault set. Subsequently, methodologies for processing information perturbations, including distortion, delay, and failure, are proposed. Fault current information is then extracted to form an information layer fault current array. Ultimately, a similarity function is constructed to correlate the fault characteristics of the physical and information layers. This is achieved through the utilization of the variational bee colony algorithm, which is employed to address the aforementioned issue. The efficacy and suitability of the proposed methodology are assessed in the context of single-point and multi-point faults, dynamic topology alterations, and information perturbations in distribution networks. To this end, a real-world project in Hebei and the IEEE system are employed as illustrative examples. The methodology proposed in this paper can facilitate the rapid and precise location of phase-to-phase short-circuits in physical information systems of distribution networks, thereby enhancing the reliability of power supply in new intelligent distribution networks. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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33 pages, 4793 KiB  
Article
Designing a Clearing Model for the Regional Electricity Spot Market Based on the Construction of the Provincial Electricity Market: A Case Study of the Yangtze River Delta Regional Electricity Market in China
by Yunjian Li, Lizi Zhang, Ye Cong, Haoxuan Chen and Fuao Zhang
Processes 2025, 13(2), 492; https://doi.org/10.3390/pr13020492 - 10 Feb 2025
Viewed by 615
Abstract
Building the regional electricity spot market (RESM) in a representative area is an important move to promote the electricity market reform and new power system construction in China. In this paper, the RESM operation model and optimization method are established, which take into [...] Read more.
Building the regional electricity spot market (RESM) in a representative area is an important move to promote the electricity market reform and new power system construction in China. In this paper, the RESM operation model and optimization method are established, which take into account the special power grid operation mechanism and market construction achievements in the provincial electricity spot market. Firstly, the influencing factors, core elements, market structure, and operation model of RESM construction in China are analyzed. Secondly, a bi-level optimization model of the RESM is established. The lower layer is the pre-clearing model of the provincial electricity spot market, which is used to optimize the unit combination strategy, considering unit operation constraints and power grid security constraints in the province. The upper layer is the optimization clearing model of the RESM, which is used to optimize the clearing price and adjust the unit operation strategy and inter-provincial electricity trading strategy, considering the security constraints of regional power grid tie lines. Finally, the RESM composed of power grids in the Yangtze River Delta region of China is simulated as an example. The analysis focuses on the operational state of the power grid after the operation of the RESM, considering its safety benefits, economic benefits, and environmental benefits. The optimization of the RESM can effectively solve the serious regional power grid congestion problem, which is achieved through the superposition and printing of pre-clearing results in various provinces, and the average daily cost of electricity purchasing in the region has been reduced by about CNY 11 million, while the annual cost has been reduced by about CNY 4 billion. In addition, the total carbon emissions have been reduced by 11,000 tons per day and 0.18 kg per kilowatt hour on average, and scenes without power abandonment account for more than 95% of the total scenes. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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21 pages, 2727 KiB  
Article
Technical and Economic Analysis of a Novel Integrated Energy System with Waste Tire Pyrolysis and Biogas
by Cheng Xin, Jun Liu, Tianqiong Chen, Heng Chen, Huijuan Huo, Shuo Wang and Yudong Wang
Processes 2025, 13(2), 415; https://doi.org/10.3390/pr13020415 - 5 Feb 2025
Viewed by 929
Abstract
To reduce dependence on fossil fuels, cope with the growing energy demand, and reduce greenhouse gas emissions, this paper innovatively designs a novel integrated energy system integrating anaerobic digestion of animal manure, fuel cell technology, gas turbine, and tire pyrolysis. The system maximizes [...] Read more.
To reduce dependence on fossil fuels, cope with the growing energy demand, and reduce greenhouse gas emissions, this paper innovatively designs a novel integrated energy system integrating anaerobic digestion of animal manure, fuel cell technology, gas turbine, and tire pyrolysis. The system maximizes the energy potential of biogas while synergistically treating waste tires, improving waste management’s flexibility, efficiency, and economic viability through multiple outputs such as electricity and by-products, subsystem synergies, equipment sharing, and economies of scale. Thermodynamic performance and economic feasibility are analyzed using Aspen Plus V14 simulation modeling, ensuring the system’s technical and economic viability. In this study, the simulation model of the system is established, and the techno-economic benefits of the system are analyzed. The simulation results show that the net electric power output of the system is 444.79 kW. Combined with the contribution of pyrolysis products, the system’s total efficiency reaches 70.88%. In only 4.79 years, the initial investment can be recovered, and in its 25-year service life, the system has realized a profit of 2,939,130 USD. The system realizes the energy and quality matching between different thermal processes through indirect collaborative treatment of different solid wastes, improves the conversion efficiency of biogas energy, co-treats waste tires, and reduces environmental pollution. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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32 pages, 3435 KiB  
Article
Operation Optimization Model of Regional Power Grid Considering Congestion Management and Security Check in Complex Market Operation Environment
by Yunjian Li, Lizi Zhang, Ye Cong, Haoxuan Chen and Fuao Zhang
Processes 2025, 13(2), 336; https://doi.org/10.3390/pr13020336 - 25 Jan 2025
Cited by 1 | Viewed by 629
Abstract
Security checks are essential for ensuring the safe operation of the regional power grid (RPG) and the smooth functioning of the electricity spot market (ESM). Currently, China’s RPG operating environment encompasses a complex mix of centralized ESM, decentralized ESM, and planned power generation. [...] Read more.
Security checks are essential for ensuring the safe operation of the regional power grid (RPG) and the smooth functioning of the electricity spot market (ESM). Currently, China’s RPG operating environment encompasses a complex mix of centralized ESM, decentralized ESM, and planned power generation. This complexity has led to increasingly severe RPG congestion issues. To address this, this paper introduces a security check mechanism design and operational optimization approach tailored for RPGs in complex markets, with a focus on congestion management. Firstly, the paper elaborates on the practical foundations, unique constraints, and requirements for security checks and congestion management during the RPG’s operational mode transitions. Secondly, it outlines the principles underlying the security check mechanism and presents a framework for RPG security checks and congestion management. Through a comparative analysis of three different programs, including their advantages, disadvantages, and applicable scenarios, the paper provides an optimal program recommendation. Building on this, the paper develops an operational optimization method that incorporates congestion management for each of the three security check and congestion management programs. Lastly, an IEEE-39 node test system is simulated to validate the effectiveness of the proposed programs. The mechanism and simulation analysis results show that Program 3, based on market mechanisms, has theoretical and practical advantages over Program 1 (based on multiple adjustments) and Program 2 (based on dispatch plans) for congestion management. Under the same line congestion situation, Program 1 requires two adjustments to relieve the line congestion, while Program 2 and Program 3 can solve the problem with just one optimization adjustment, and the congestion management effect of Program 3 is more obvious and superior. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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25 pages, 3976 KiB  
Article
Research on Multi-Scale Electricity–Carbon–Green Certificate Market Coupling Trading Based on System Dynamics
by Tiannan Ma, Lilin Peng, Gang Wu, Yuchen Wei and Xin Zou
Processes 2025, 13(1), 109; https://doi.org/10.3390/pr13010109 - 3 Jan 2025
Cited by 1 | Viewed by 1150
Abstract
While tradable green certificates (TGCs) and carbon emission trading (CET) play key roles in achieving peak carbon and carbon neutrality, the coupling effects between these two policies on the medium- and long-term electricity market and the spot market are still uncertain. In this [...] Read more.
While tradable green certificates (TGCs) and carbon emission trading (CET) play key roles in achieving peak carbon and carbon neutrality, the coupling effects between these two policies on the medium- and long-term electricity market and the spot market are still uncertain. In this study, we firstly construct a multi-scale market trading framework to sort out the information transfer of four markets. Secondly, we establish a multi-scale market system dynamics-coupled trading model with five sub-modules, including the medium- and long-term power markets, the spot market, and the carbon market. Subsequently, we adjust the policy parameters (carbon quota benchmark price, carbon quota auction ratio, and renewable energy quota ratio) and set up five policy scenarios to compare and analyze the impacts of the CET and TGC mechanisms on the power market and carbon emission reduction when they act alone or in synergy, in order to provide a theoretical basis for the adjustment of strategies of market entities and the setting of parameters. The results show that CET can increase spot electricity prices and promote renewable energy to enter the spot market, while TGCs can promote a high proportion of renewable energy consumption but lower spot electricity prices for a long time. The coordinated implementation of the CET and TGC mechanisms can improve the power market’s adaptability to high renewable energy penetration, but it may also result in policy redundancy. Full article
(This article belongs to the Special Issue Evaluation, Decision–Making and Market Simulation of a New Type of Power System)
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