Zhongyang Zhao;Caisheng Wang;Huaiwei Liao;Van-Hai Bui;Wencong Su
{"title":"Data-Driven Analysis and Modeling of Collective Generation Behaviors in an Electricity Market: A Perspective From Market Participants","authors":"Zhongyang Zhao;Caisheng Wang;Huaiwei Liao;Van-Hai Bui;Wencong Su","doi":"10.1109/TEMPR.2023.3298794","DOIUrl":"https://doi.org/10.1109/TEMPR.2023.3298794","url":null,"abstract":"To interpret and characterize the collective behaviors of power plants from the perspective of market participants, this article proposes a data-driven method by utilizing the public data of power plants and electricity market to analyze the relationships among the outputs of different power plants. The proposed method includes three major stages. In stage 1, a soft dynamic time warping-based clustering method is proposed to group generators with similar operation behaviors. In stage 2, the clusters' behaviors are analyzed in detail using a data-driven method. This stage utilizes the public data of power plants and the electricity market to analyze the relationships among the outputs of different power plants using the autoregressive model and Cholesky decomposition. In stage 3, the analysis results obtained from stage 2 are used in power system analysis considering collective generation behaviors by adjusting the cost models of generators. Finally, a comprehensive case study is carried out on a modified IEEE 118-bus system and a modified ACTIVSg2000 system to verify the proposed modeling approach. The simulation results show that the proposed method is valid and effective in modeling the observed collective behaviors of generating units and can be easily expanded to a large-scale power system. The impacts of different collective behaviors on locational marginal prices and transmission congestions are also analyzed in the article.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 3","pages":"161-172"},"PeriodicalIF":0.0,"publicationDate":"2023-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50329232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Region-to-Region Energy Sharing for Prosumer Clusters in Distribution Network: A Multi-Leaders and Multi-Followers Stackelberg Game","authors":"Yubing Chen;Nian Liu;Liudong Chen;Xinghuo Yu","doi":"10.1109/TEMPR.2023.3296734","DOIUrl":"10.1109/TEMPR.2023.3296734","url":null,"abstract":"With the extensive integration of the distributed energy resources, the energy scheduling among multiple sharing entities has been complicated by prosumer-based-regions and their interaction with regional prosumers. This article proposes an energy sharing scheme considering the region-to-region (R2R) energy sharing process and demand response (DR) simultaneously, which is formulated as a multi-leaders and multi-regions Stackelberg game. Regions are formulated by prosumer clusters with same geographical locations, where the regional energy-sharing providers serve as the leaders conducting the R2R energy sharing, while prosumers within the region are the followers implementing the DR. A R2R energy sharing model among regions is formulated where a novel dynamical pricing scheme is designed based on the unbalanced energy in R2R energy sharing process. Besides, a fair and stable allocation mechanism is introduced according to prosumers’ contribution for the R2R energy sharing, which is nested into prosumers’ DR model with dynamical regional prices. The multi-leaders and multi-followers Stackelberg equilibrium can be obtained through a distributed iterative algorithm, which implements between the regions and prosumers. Finally, the practical case study shows the effectiveness of improving local energy consumption and the regions’ economic interests.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 4","pages":"398-409"},"PeriodicalIF":0.0,"publicationDate":"2023-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87522692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Forecasting Imbalance Price Densities With Statistical Methods and Neural Networks","authors":"Vighnesh Natarajan Ganesh;Derek Bunn","doi":"10.1109/TEMPR.2023.3293693","DOIUrl":"10.1109/TEMPR.2023.3293693","url":null,"abstract":"Despite the extensive research on electricity price forecasting, forecasting imbalance prices is a relatively new topic. Interest, however, is growing because of the greater uncertainties and costs involved in real-time balancing. Whilst there has been previous work on nonlinear statistical methods, this article reports on a comparative study involving these and various neural network architectures including N-BEATS, fully connected, attention-based, and recurrent neural networks. To ensure valid comparability, these different neural networks were tested on the same data from Britain used in the previous point and density forecasting research. While there are only marginal improvements in point forecasts, we find that neural networks produce significantly more accurate density forecasts. Since the risks involved with exposure to imbalance prices are becoming a serious consideration for market participants, accurate density forecasts are crucial for risk management.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 1","pages":"30-39"},"PeriodicalIF":0.0,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74693505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yihsu Chen;Andrew L. Liu;Makoto Tanaka;Ryuta Takashima
{"title":"Optimal Retail Tariff Design With Prosumers: Pursuing Equity at the Expenses of Economic Efficiencies?","authors":"Yihsu Chen;Andrew L. Liu;Makoto Tanaka;Ryuta Takashima","doi":"10.1109/TEMPR.2023.3293711","DOIUrl":"https://doi.org/10.1109/TEMPR.2023.3293711","url":null,"abstract":"Distributed renewable resources owned by prosumers can be an effective way to strengthen the resilience of the grid and enhance sustainability. However, prosumers serve their own interests, and their objectives are unlikely to align with that of society. This article develops a bilevel model to study the optimal design of retail electricity tariffs considering the balance between economic efficiency and energy equity. The retail tariff entails a fixed charge and a volumetric charge tied to electricity usage to recover utilities' fixed costs. We analyze solution properties of the bilevel problem and prove an optimal rate design, which is to use fixed charge to recover fixed costs and to balance energy equity among different income groups. That is, the first-best policy is to leave the wholesale power market intact; any recovery based on a volumetric principle is likely to be inefficient. This suggests that programs similar to CARE (California Alternative Rate of Energy), which offer lower retail rates to low-income households, are unlikely to be efficient, even if they are politically appealing.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 3","pages":"198-210"},"PeriodicalIF":0.0,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50328315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Bilevel Model to Study Inc-Dec Games at the TSO-DSO Interface","authors":"Ellen Beckstedde;Leonardo Meeus;Erik Delarue","doi":"10.1109/TEMPR.2023.3292425","DOIUrl":"10.1109/TEMPR.2023.3292425","url":null,"abstract":"Distribution System Operators (DSOs) in Europe increasingly employ flexibility markets to manage overloaded grid lines or transformers. One of the main concerns is that grid users will use these flexibility markets to deliberately create and solve congestion, also known as inc-dec gaming. However, the relevance of this game has not yet been explored for distribution grids. We propose a bilevel model with a three-stage electricity market to examine the inc-dec game in flexibility markets at distribution level and redispatch markets at transmission level. We show that the proposed model can be formulated as a Mathematical Program with Equilibrium Constraints (MPEC) and converted into a Mixed-Integer Linear Program (MILP). We demonstrate the model using a stylized example of renewable energy curtailment due to limited capacity at the transmission and distribution network interface, which is a typical congestion situation in Europe. In our test case, the results show that strategic agents can game flexibility markets. We also find examples of the price-setter game and the inc-dec games using redispatch markets. We compare the characteristics of these games with the existing literature to help regulators and system operators to detect them in practice.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 4","pages":"430-440"},"PeriodicalIF":0.0,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88866418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analyzing Real-Time Market Oscillation of Demand Response Resource Aggregation—A MISO Case","authors":"Yikui Liu;Yonghong Chen;Robert Merring;Bing Huang;Lei Wu","doi":"10.1109/TEMPR.2023.3291329","DOIUrl":"10.1109/TEMPR.2023.3291329","url":null,"abstract":"In observing the rapid growth of distributed energy resources (DERs), regional transmission organizations (RTOs) have been investigating the upcoming challenges and potential methods to support their deeper market integration. This article studies the Midcontinent Independent System Operator's (MISO) distribution factor-based commercial pricing node (Cpnode)-elemental pricing node (Epnode) network model, analyzing its suitability and potential issues in supporting the market integration of DERs across multiple locations as aggregated demand response resources (DRRs). Specifically, this article modifies the MISO's existing DRR models to aggregate component resources on different Epnodes via distribution factors as dispatchable DRRs at Cpnodes. These aggregated dispatchable DRRs will directly participate in the MISO's real-time (RT) energy market and follow the MISO's dispatch instructions at Cpnodes through the Epnode-level component resource redispatch. However, distribution factor inaccuracy could cause oscillations in locational marginal prices (LMPs) and dispatches of DRRs in the RT energy market. To this end, influential factors contributing to the occurrence of oscillations are discussed, and five distribution factor updating strategies are studied. Moreover, a correction term is proposed to resolve the timing misalignment issue in transmission constraints. Numerical simulations via the MISO's RT Security-Constrained Economic Dispatch (RT-SCED) tool and actual MISO production cases are conducted to evaluate these strategies and influential factors.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 4","pages":"455-467"},"PeriodicalIF":0.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85644757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Stephen Hardy;Andreas Themelis;Kaoru Yamamoto;Hakan Ergun;Dirk Van Hertem
{"title":"Optimal Grid Layouts for Hybrid Offshore Assets in the North Sea Under Different Market Designs","authors":"Stephen Hardy;Andreas Themelis;Kaoru Yamamoto;Hakan Ergun;Dirk Van Hertem","doi":"10.1109/TEMPR.2023.3289582","DOIUrl":"10.1109/TEMPR.2023.3289582","url":null,"abstract":"This work examines the generation and transmission expansion planning problem of offshore grids under different market clearing mechanisms: a home market design, a zonally cleared offshore bidding zone and a nodally cleared offshore bidding zone. It aims at answering two questions. Is knowing the market structure a priori necessary for effective generation and transmission expansion planning? And which market mechanism results in the highest overall social welfare? To this end, a multi-period, stochastic generation and transmission expansion planning formulation is developed for both nodal and zonal market designs. The approach considers the costs and benefits among stake-holders of hybrid offshore assets as well as gross consumer surplus. The methodology is demonstrated on a North Sea test grid based on projects from the European network of transmission system operators' ten-year network development plan. An upper bound on potential social welfare in zonal market designs is calculated and it is concluded that from a generation and transmission perspective, knowing the market structure a priori is not strictly necessary but planning under the assumption of a nodal offshore bidding zone is recommended as it results in the highest overall social welfare and best risk adjusted return.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 4","pages":"468-479"},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80597350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Multi-Timescale Trading Strategy for Renewable Power to Ammonia Virtual Power Plant in the Electricity, Hydrogen, and Ammonia Markets","authors":"Sirui Wu;Jin Lin;Jiarong Li;Feng Liu;Yonghua Song;Yanhui Xu;Xiang Cheng;Zhipeng Yu","doi":"10.1109/TEMPR.2023.3287857","DOIUrl":"https://doi.org/10.1109/TEMPR.2023.3287857","url":null,"abstract":"Renewablepower to ammonia (RePtA) is a prominent zero-carbon pathway for decarbonization. Due to the imbalance between renewables and production energy demand, the RePtA system relies on electricity exchange with the power grid. Participating in the electricity market as a virtual power plant (VPP) may help to reduce energy costs. However, the power profile of local photovoltaics and wind turbines is similar to those in the market, resulting in rising energy costs under the conventional strategy. Hence, we develop a multi-timescale trading strategy for the RePtA VPP in the electricity, hydrogen, and ammonia markets. By utilizing the hydrogen and ammonia buffer systems, the RePtA VPP can optimally coordinate production planning. Moreover, we find it possible to describe the trading of electricity, ammonia, and hydrogen in a unified timeframe. The two-stage robust optimization model of the electricity market is extended to multiple markets and solved by the column and constraint generation (CC&G) algorithm. The case is derived from an actual project in the Inner Mongolia Autonomous Region. Sensitivity analysis demonstrates the economic advantages of the RePtA VPP joining multiple markets over the conventional strategy and reveals the necessity of the hydrogen and ammonia buffer and reactor flexibility.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 4","pages":"322-335"},"PeriodicalIF":0.0,"publicationDate":"2023-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138633842","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Can Huang;Qinran Hu;Linwei Sang;Donald D. Lucas;Robin Wong;Bin Wang;Wanshi Hong;Mengqi Yao;Vaibhav Donde
{"title":"A Review of Public Safety Power Shutoffs (PSPS) for Wildfire Mitigation: Policies, Practices, Models and Data Sources","authors":"Can Huang;Qinran Hu;Linwei Sang;Donald D. Lucas;Robin Wong;Bin Wang;Wanshi Hong;Mengqi Yao;Vaibhav Donde","doi":"10.1109/TEMPR.2023.3287027","DOIUrl":"https://doi.org/10.1109/TEMPR.2023.3287027","url":null,"abstract":"Public Safety Power Shutoffs (PSPS), also known as proactive de-energizations, proactively de-energize a portion of power systems to mitigate the risk of catastrophic wildfires caused by electric infrastructure. Since the first practice in Southern California in 2012, PSPS have been widely discussed in government and industry, but seldom in the academic literature. This article surveys the PSPS program in California, including its history, policies, and practices. In practice, PSPS present strong interactions between electric utilities and customers, yielding PSPS a trade-off problem to balance the risk of power-line-ignited wild-fires (i.e., wildfire risk) against the harms of power shutoff (i.e., PSPS risk). In this regard, this article summarizes the industry-standard and research methods for PSPS studies, including models, data sources, and test systems. It is suggested to integrate engineering solutions with social-economic science, such as energy innovation, energy equity, and PSPS uncertainties, in future PSPS studies.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 3","pages":"187-197"},"PeriodicalIF":0.0,"publicationDate":"2023-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://ieeexplore.ieee.org/iel7/9794458/10250976/10154121.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50328316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"IEEE Transactions on Energy Markets, Policy, and Regulation Information for Authors","authors":"","doi":"10.1109/TEMPR.2023.3280692","DOIUrl":"https://doi.org/10.1109/TEMPR.2023.3280692","url":null,"abstract":"","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"1 2","pages":"C3-C3"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://ieeexplore.ieee.org/iel7/9794458/10153503/10153533.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67817736","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}