Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets

Wei Lin; Zhifang Yang

doi:10.17775/CSEEJPES.2022.05240

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Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets

Regular Papers | 更新时间：2026-10-15

- Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets
- Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets
- 中国电机工程学会电力与能源系统学报(英文) 2024年10卷第4期页码：1466-1477
- 作者机构：
  
  1. Department of Electrical Engineering, The Hong Kong Polytechnic University,Hong Kong,China
  2. State Key Laboratory of Power Transmission Equipment & System Security and New Technology, College of Electrical Engineering, Chongqing University,Chongqing,China
- 作者简介：
- 基金信息：
- DOI：10.17775/CSEEJPES.2022.05240
  中图分类号：
- 纸质出版：2024-07-01
- 稿件说明：
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Wei Lin, Zhifang Yang. Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets[J]. 中国电机工程学会电力与能源系统学报(英文), 2024,10(4):1466-1477.

Wei Lin, Zhifang Yang. Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets[J]. CSEE Journal of Power and Energy Systems, 2024, 10(4): 1466-1477.
Wei Lin, Zhifang Yang. Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets[J]. 中国电机工程学会电力与能源系统学报(英文), 2024,10(4):1466-1477. DOI： 10.17775/CSEEJPES.2022.05240.

Wei Lin, Zhifang Yang. Non-convexity Pricing and Allocating Costs in Stochastic Electricity Markets[J]. CSEE Journal of Power and Energy Systems, 2024, 10(4): 1466-1477. DOI： 10.17775/CSEEJPES.2022.05240.

摘要

Abstract

Stochastic electricity markets have drawn attention due to fast increase of renewable penetrations. This results in two issues: one is to reduce uplift payments arising from non-convexity under renewable uncertainties

and the other one is to allocate reserve costs based on renewable uncertainties. To resolve the first issue

a convex hull pricing method for stochastic electricity markets is proposed. The dual variables of system-wide constraints in a chance-constrained unit commitment model are shown to reduce expected uplift payments

together with developing a linear program to efficiently calculate such prices. To resolve the second issue

an allocation method is proposed to allocate reserve costs to each renewable power plant by explicitly investigating how renewable uncertainties of each renewable power plant affect reserve costs. The proposed methods are validated in a 24-period 3-unit test example and a 24-period 48-unit utility example.

关键词

Keywords

references

21. Y. N. Yu, Y. P. Guan, and Y. H. Chen. ( 2019, Jun. ). An integral formulation and convex hull pricing for unit commitment ”. [Online]. Available: https://arxiv.org/abs/1906.07862.

29. W. Lin. ( 2021, Sep. 06 ). CHP_Uncertainties_Data . [Online ] . Available: https://figshare.com/articles/CHP_Uncertainties_Data/12381689.

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