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Power trading region considering long-term contract for interconnected power networks

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  • Liu, Shuo
  • Yang, Zhifang
  • Xia, Qing
  • Lin, Wei
  • Shi, Lianjun
  • Zeng, Dan

Abstract

The identification of an exact power trading region is crucial for the optimal utilization of power resources among interconnected regional networks. However, existing studies generally ignore the link between the long-term and day-ahead electricity markets, which threatens the secure and economic operation of power systems. This paper proposes a method to identify the unified power trading region in the day-ahead electricity market precisely, considering the long-term power contract. This unified power trading region describes the feasible regions of both tie-line power transmission and power contract execution. Furthermore, the source and sink regional networks can be considered uniformly by the proposed power trading region. All day-ahead and long-term contract constraints are preserved via multi-parametric programming analysis. Moreover, the influence of the long-term contract in the day-ahead market is revealed from a new perspective. On this basis, a non-iterative decentralized multi-area market-clearing model is proposed that is compatible with the existing decentralized clearing framework. Finally, the exact convex relaxation formulation of the proposed multi-area market-clearing model is derived.

Suggested Citation

  • Liu, Shuo & Yang, Zhifang & Xia, Qing & Lin, Wei & Shi, Lianjun & Zeng, Dan, 2020. "Power trading region considering long-term contract for interconnected power networks," Applied Energy, Elsevier, vol. 261(C).
    • Handle: RePEc:eee:appene:v:261:y:2020:i:c:s0306261919320987
    DOI: 10.1016/j.apenergy.2019.114411
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    References listed on IDEAS

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    2. Meng, Yan & Fan, Shuai & Shen, Yu & Xiao, Jucheng & He, Guangyu & Li, Zuyi, 2023. "Transmission and distribution network-constrained large-scale demand response based on locational customer directrix load for accommodating renewable energy," Applied Energy, Elsevier, vol. 350(C).
    3. Jiang, Tao & Zhang, Rufeng & Li, Xue & Chen, Houhe & Li, Guoqing, 2021. "Integrated energy system security region: Concepts, methods, and implementations," Applied Energy, Elsevier, vol. 283(C).
    4. Halbrügge, Stephanie & Buhl, Hans Ulrich & Fridgen, Gilbert & Schott, Paul & Weibelzahl, Martin & Weissflog, Jan, 2022. "How Germany achieved a record share of renewables during the COVID-19 pandemic while relying on the European interconnected power network," Energy, Elsevier, vol. 246(C).

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