Intra-Provincial Medium- and Long-Term Bidding Model Incorporating Inter-Provincial Markets and Available Transmission Capacity

Abstract

As China's provincial power market system continues to develop, the unconstrained clearance method for the provincial medium and long-term (MLT) market is no longer able to meet the needs of its continuous operation and the quotations of market participants. In this paper, the rules and business requirements of China's MLT centralized bidding transactions are analyzed, and a clearing model is established that considers the Available Transmission Capacity and the economic characteristics of market participants, based on the connection mechanism between inter-provincial and provincial markets. Then, the inter-provincial market pre-clearance results are used as the boundary conditions of intra-provincial transactions, and an optimal intra-provincial transaction clearing model is constructed taking into account the impact of inter-provincial markets. Finally, the effectiveness of the proposed MLT centralized bidding model is demonstrated through an example of actual power trading, serving as a guide for the resolution of MLT transactions within China's unified market.