Translated Abstract
The fundamental differences between renewable energy and conventional power generation are the randomness and volatility of renewable output. Therefore, with the increasing penetration of renewable energy generation, the system operation security and the orderly market transactions all face great challenges. In order to cope with the stochasticity of renewable energy generation, it is necessary to improve the traditional market clearing mechanism to adapt the participation of renewable energy and promote the integration of renewable energy in electricity market.
Based on the development of the European electricity market and its experience of integrating renewables, this thesis proposed several suggestions covering establishing short-term electricity market, utilizing multi-area interaction to consume renewable energy and setting up a multi-level electricity market based on regional interconnection.
A clearing model of day-ahead market is proposed which considering high penetration of renewable generation through the analysis of the mechanism on integration of renewable energy in the short-term electricity market. This model adopts the two-stage stochastic programming algorithm, taking into account the impact of real-time transactions on day-ahead market clearing by constructing typical renewable generation scenarios, and at the same time introduces reserve capacity as a market commodity to make joint clearing with energy. The clearing result including market clearing price and day-ahead dispatching are obtained under the objective of maximizing the social welfare.
This thesis took the Northwest power grid as a practical example, generated renewable energy output scenarios based on historical data, and analyzed the effects of the two-stage stochastic clearing model on market behaviour and factors that influence the integration of renewable generation. The results of case study show that under the two-stage stochastic clearing model, the participation of renewable energy would not reduce the profit of conventional generators, and the revenue gap is made up by the trade of surplus reserve capacity, which provide the renewables a good competition environment in the electricity market. Especially, the introduction of reserve capacity procurement can improve the enthusiasm of conventional generators to cope with stochasticity, and increase the flexibility of the system. At the same time, strengthening regional interconnection and establishing a multi-level electricity market can expand the range of renewable energy consumption, realize a better resources allocation, and transform the resource advantages into economic advantages to achieve coordinated development of regional economies.
Translated Keyword
[Day-ahead market clearing, Electricity market, Renewable energy integration, Two-stage stochastic programming]
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