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Decomposition and analysis of marginal prices in multi-energy systems

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  • Bao, Shiyuan
  • Yang, Zhifang
  • Yu, Juan

Abstract

With the integration of different energy forms, a proper pricing method of the multi-energy systems is urgently required. Nowadays, the marginal pricing method has been widely applied in energy systems for its precise economic characteristics. However, the current pricing method in multi-energy systems hardly considers the transferring delay, which causes the temporal effects of prices. Besides, there still lacks a theoretical analysis of price correlations among different energy systems. In this paper, we present a general pricing method of multi-energy systems. The components of the multi-energy prices are decomposed in two ways: the decomposition for time t and for the whole time. Also, the temporal correlation of the prices is examined. The correlated relationship among the prices of different energy forms is theoretically studied via analyzing the coupling mechanisms of different facilities. In particular, the pricing problem of the electricity-gas systems is taken as an example, which is investigated in detail.

Suggested Citation

  • Bao, Shiyuan & Yang, Zhifang & Yu, Juan, 2021. "Decomposition and analysis of marginal prices in multi-energy systems," Energy, Elsevier, vol. 221(C).
    • Handle: RePEc:eee:energy:v:221:y:2021:i:c:s0360544221000633
    DOI: 10.1016/j.energy.2021.119814
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