In this paper, a two-dimensional Cournot model is proposed to study generation companies’ (GENCO’s) strategic quantity-setting behaviors in the newly established Yunnan’s electricity market. A hybrid pricing mechanism is introduced to Yunnan’s electr...
China has made significant progress in developing renewable energy, but challenges in integrating variable sources like wind, solar, and hydro power persist. Existing research has a regional focus and lacks a comprehensive understanding of integratio...
Renewable energy, such as wind power and photovoltaic power, has uncertain and intermittent characteristics and zero marginal cost characteristics. The traditional power market mechanism is difficult to adapt to the new power system with a high propo...
In order to accelerate the construction of a clean, low-carbon, safe and efficient energy system, China set the provincial weight of responsibility for renewable energy power consumption and established a renewable energy power absorption guarantee m...
In the context of the global response to climate change and the active promotion of energy transformation, a number of low-carbon policies coupled with the development of synergies to help power system transformation is an important initiative. Howev...
Electricity generation using distributed renewable energy systems is becoming increasingly common due to the significant increase in energy demand and the high operation of conventional power systems with fossil fuels. The introduction of distributed...
In this paper, we discuss the demand side management (DSM) problem: how to incentivize a consumer to equalize the load during the day through price-dependent demand. Traditionally, the retail market offers several electricity payment schemes. A schem...
Distributed energy resources provide local power as a supplement on the customer side. Recent rapid development of the distributed energy source enhances the clear energy production at the terminal of the power system. Whereas the small capacity of a...
Under marginal-cost pricing, some generators cannot recover their production costs at the market price due to non-convexities in the electricity market. For this reason, most electricity markets pay side-payments to generators whose costs are not suf...
As new-energy electricity increasingly enters the post-subsidy era, traditional fixed feed-in tariffs and guaranteed purchase policies are not conducive to the optimal allocation of large-scale, high-proportion new-energy power due to the high pressu...
The European electricity market model continues to evolve in the face of new challenges. This systematic literature review aims to assess the status of research and discussion on the current model and its market mechanisms. In addition, it aims to as...
Current electricity markets do not efficiently achieve policy targets i.e., sustainability, reliability, and price efficiency. Thus, there are debates on how to achieve these targets by using either market mechanisms e.g., carbon and capacity markets...
In the face of the new reform of China’s “unified electricity market”, the frequency regulation ancillary service market in each region of China is still divided between using the MCP and PAB pricing mechanisms. The purpose of this...
Electricity forward market contract trading constitutes a principal trading method in the electricity market. To address deviations from or non-compliance with contracts in China’s forward electricity market, an Energy Deviation Settlement (EDS...
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...
Recent events within the Australian National Electricity Market have demonstrated that the system of an energy-only market (a market that only compensates power that has been produced) is no longer fit for purpose. The rate of change in installed cap...
With the development of the electricity spot market, pumped-storage power stations are faced with the problem of realizing flexible adjustment capabilities and limited profit margins under the current two-part electricity price system. At the same ti...
As the construction of the new power system progresses, pumped storage plays an important role in the system as a typical regulating resource. However, the regulating capacity of traditional fixed-speed pumped storage units is limited and it is diffi...
The development of renewable energy in China has made remarkable achievements, but the problem of renewable energy consumption has become increasingly prominent. This paper establishes a power market trading system for renewable energy, with the aim...
China’s power generation system has undergone reforms, leading to a competitive electricity market where independent producers participate through competitive bidding. With the rise of low-carbon policies, producers must optimize bidding strate...
As the second largest power source in the world, hydropower plays a crucial role in the operation of power systems. This paper focuses on the key issues of regulating hydropower stations participating in the spot market. It aims at the core challenge...
The transition towards renewable energy has increased the importance of virtual power plants (VPPs) in integrating distributed energy resources (DERs). However, questions remain regarding the most appropriate auction mechanisms (pay-as-bid (PAB) vers...
This paper designs an incentive contract menu to achieve long-term stability for electricity prices in a day-ahead electricity market. A bi-level Stackelberg game model is proposed to search for the optimal incentive mechanism under a one-leader and...
To achieve low-carbon collaborative operation of active distribution networks (ADNs) and microgrid clusters, this paper proposes a signal-guided collaborative optimization method. Firstly, a spatiotemporal carbon intensity equilibrium model (STCIEM)...
Thailand’s power system has been facing an energy transition due to the increasing amount of Renewable Energy (RE) integration, prosumers with self-consumption, and digitalization-based business models in a Local Energy Market (LEM). This paper intro...
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 centralize...
To promote the reformation of the electricity market in China, a market mechanism that can support collaboration between the contract market and the upcoming spot market was designed in this paper. The focus of this paper was to develop a mechanism t...
A high proportion of renewable energy access makes the net load of the power system volatile and uncertain, increasing the demand for the ramping capacity of the power system. Traditional electricity spot markets compensate for the power imbalances c...
One of the main challenges in the emerging smart grid is to jointly consider the demand and supply, which is also reflected in the wholesale market (supply side) and the retail market (demand side). When integrating the demand and supply side into on...
This work presents a novel blockchain-based energy trading mechanism for electric vehicles consisting of day-ahead and real-time markets. In the day-ahead market, electric vehicle users submit their bidding price to participate in the double auction...
The electricity spot market is now being implemented in China. Demand response, as a kind of flexible resource, is also being studied and explored for the constructed power market. Among the many demand response applications, the virtual power plant...
With the support of the dual-carbon strategy and related policies, China’s offshore wind power has experienced rapid development. However, constrained by the inherent intermittency and volatility of wind power, large-scale expansion poses signi...
Improving the level of cooperative governance of open innovation projects is a key bridge and powerful starting point for promoting the full integration and coordinated development of different market systems. Against the background of the synergy of...
The approach of an integrated electricity market is widespread across Europe, since such a market structure has numerous benefits for both the grid and consumers. The current structure and the related policy framework of the electricity markets adopt...
In line with the goals of “peak carbon emissions and carbon neutrality”, this study aims to develop a market-coordinated operation mechanism to promote renewable energy adoption and consumption, addressing the challenges of integrating me...
This work focused on prescribing, designing, implementing, and evaluating a pilot project conducted in the Greek power system that addressed balancing and congestion management issues that system operators (SOs) face within the clean energy era. The...
This study examines the decision-making optimization of Power-Generation Enterprises (PGEs) in the green certificate market, with a focus on balancing bidding strategies and carbon-reduction targets. Given the increasing complexity of the green certi...
Limited by the influence of network topology and other factors, the theory of carbon emission flow is unreasonable in the allocation of carbon responsibility on the user side, which leads to the low enthusiasm of users to respond to emission mitigati...
Under the guidance of carbon peaking and carbon neutrality goals, the power industry is transitioning toward environmentally friendly practices. With the increasing integration of intermittent renewable energy sources (RES) and the enhanced self-regu...
Power system imbalances pose significant challenges to maintaining grid stability and ensuring efficient market performance, particularly in the context of the Japanese electricity market. The primary drivers of these imbalances are identified as the...
Electricity markets have been established in many countries of the world. Electricity and services are traded in the competitive environment of electricity markets, which generates a large amount of information during the operation process. To mainta...
There is a debate if electricity markets on the basis of energy-only markets ensure a sufficient generation capacity. Various capacity mechanisms are discussed to tackle this potential problem. Capacity auctions with reliability options are seen as o...
Extensive literature is available for modeling and simulating local electricity markets, often called P2P electricity markets, and for pricing local energy transactions in energy communities. Market models and pricing mechanisms provide simulation to...
In the future, the large-scale participation of renewable energy in electricity market bidding is an inevitable trend. In order to describe the Nash equilibrium effect and market power between renewable energy and traditional power generators in the...
With the continuous promotion of China’s electricity market reform, the introduction of competition in the power generation market provides a new research direction for the generation expansion planning (GEP) problem, which is of great signific...
Green hydrogen has become the key to social low-carbon transformation and is fully linked to zero carbon emissions. The carbon emissions trading market is a policy tool used to control carbon emissions using a market-oriented mechanism. Building a mo...
Many electricity markets around the world are still at developmental and transitional stages. To complete the transition and achieve the key objectives of perfect market design, designers often choose direct electricity procurement of large consumers...
Carbon taxes and carbon markets both contribute to mitigating carbon emissions in China’s power industry. Nevertheless, the pricing mechanism within China’s national carbon market, confined solely to the power sector, faces challenges in...
In this new era of energy transition, access to reliable and correctly functioning electricity markets is a huge concern for all economies. The restructuring path taken by most electricity markets involves the movement towards green generation struct...
With the rapid growth of global energy demand, the fossil fuel-dominated electric power industry has led to serious environmental problems. Tradable green certificates (TGC) and carbon emission trading (CET) have become key mechanisms for promoting s...
of 12