IEEE Transactions on Energy Markets, Policy and Regulation最新文献_第2页

Managing Renewable Energy Risk in the Brazilian Forward Market: The Impact of Hourly Hedging

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-10-31 DOI: 10.1109/TEMPR.2024.3489475

Alexandre Street;Bruno Fanzeres;Gustavo Carvalho

{"title":"Managing Renewable Energy Risk in the Brazilian Forward Market: The Impact of Hourly Hedging","authors":"Alexandre Street;Bruno Fanzeres;Gustavo Carvalho","doi":"10.1109/TEMPR.2024.3489475","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3489475","url":null,"abstract":"A shift towards a carbon-neutral generation matrix is underway worldwide. In Brazil, where long-term forward markets drive investments, this trend is not different. For instance, long-term contracted renewable generation investors face the so-called price-and-quantity risk, which materializes whenever a generator falls short of producing the contracted amount and has to purchase this deficit at high spot prices. Notwithstanding, some renewable sources exhibit relevant hourly complementary generation profiles, e.g., wind and solar in the Northeastern Region of Brazil, suggesting a synergy that can be explored through exchange mechanisms to mitigate the price-and-quantity risk. Therefore, in this work, we investigate adecentralized approach based on hourly swaps, i.e., the exchange of forward contracts with different delivery hours. With these new hedging instruments, renewable agents can adjust their current flat forward positions and modulate them according to their generation profile and risk aversion level, thus minimizing the exposure to price-and-quantity risk through a pure financial market mechanism. We evaluate the benefits of the proposed mechanism through market equilibria using real data from the Brazilian power system. Results provide relevant evidence that the proposed hedging instrument should be beneficial to market agents and even foster higher long-term forward involvements with lower risk levels.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"3 1","pages":"98-108"},"PeriodicalIF":0.0,"publicationDate":"2024-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143621571","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}

引用次数: 0

Market Implications of Alternative Operating Reserve Modeling in Wholesale Electricity Markets

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-10-25 DOI: 10.1109/TEMPR.2024.3485948

Hamid Davoudi;Fengyu Wang;Yonghong Chen;Di Shi;Alinson Xavier;Feng Qiu

引用次数: 0

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

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-24 DOI: 10.1109/TEMPR.2024.3467118

Xueqian Fu;Zhan Wang;Yanmin Guo;Wanyu Li;Zhuopeng Tang

{"title":"Intra-Provincial Medium- and Long-Term Bidding Model Incorporating Inter-Provincial Markets and Available Transmission Capacity","authors":"Xueqian Fu;Zhan Wang;Yanmin Guo;Wanyu Li;Zhuopeng Tang","doi":"10.1109/TEMPR.2024.3467118","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3467118","url":null,"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.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"3 1","pages":"109-120"},"PeriodicalIF":0.0,"publicationDate":"2024-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143621573","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}

引用次数: 0

Risk-Aware Security-Constrained Unit Commitment: Taming the Curse of Real-Time Volatility and Consumer Exposure 风险意识安全约束的单位承诺：驯服实时波动和消费者暴露的诅咒

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-18 DOI: 10.1109/TEMPR.2024.3464238

Daniel Bienstock;Yury Dvorkin;Cheng Guo;Robert Mieth;Jiayi Wang

{"title":"Risk-Aware Security-Constrained Unit Commitment: Taming the Curse of Real-Time Volatility and Consumer Exposure","authors":"Daniel Bienstock;Yury Dvorkin;Cheng Guo;Robert Mieth;Jiayi Wang","doi":"10.1109/TEMPR.2024.3464238","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3464238","url":null,"abstract":"We propose an enhancement to wholesale electricity markets to contain the exposure of consumers to \u0000<italic>increasingly large and volatile consumer payments</i>\u0000 arising as a byproduct of volatile real-time net loads – i.e., loads minus renewable outputs – and prices, both compared to day-ahead cleared values. We incorporate a trade-off, motivated by portfolio optimization methods, between standard day-ahead payments and a robust estimate of such excess payments into the day-ahead computation and specifically seek to account for \u0000<italic>volatility</i>\u0000 in real-time net loads and renewable generation. Our model features a data-driven uncertainty set based on principal component analysis, which accommodates both load and wind production volatility and captures locational correlation of uncertain data. To solve the model more efficiently, we develop a decomposition algorithm that can handle nonconvex subproblems. Our extensive experiments on a realistic NYISO data set show that the risk-aware model protects the consumers from potential high costs caused by adverse circumstances.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 4","pages":"536-551"},"PeriodicalIF":0.0,"publicationDate":"2024-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142810697","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}

引用次数: 0

IEEE Power & Energy Society Information IEEE 电力与能源学会信息

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-12 DOI: 10.1109/TEMPR.2024.3448673

引用次数: 0

IEEE Transactions on Energy Markets, Policy, and Regulation Information for Authors 电气和电子工程师学会《能源市场、政策与监管》期刊作者须知

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-12 DOI: 10.1109/TEMPR.2024.3448669

引用次数: 0

Blank Page 空白页

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-12 DOI: 10.1109/TEMPR.2024.3448671

引用次数: 0

A Distance Metric Based Approach for Analyzing, Assessing, and Strengthening EV Policy

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-04 DOI: 10.1109/TEMPR.2024.3454413

Payal Vyankat Dahiwale;Zakir H. Rather;Indradip Mitra

{"title":"A Distance Metric Based Approach for Analyzing, Assessing, and Strengthening EV Policy","authors":"Payal Vyankat Dahiwale;Zakir H. Rather;Indradip Mitra","doi":"10.1109/TEMPR.2024.3454413","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3454413","url":null,"abstract":"In realizing seamless mass adoption of electric vehicles (EVs), the government plays a vital role by framing and implementing various EV related policies. These policies, if framed adequately, play a key role in achieving electrification of transportation in States. The literature review suggests that there is a pressing need to develop a unified method to analyze the EV policy of a State and determine its effectiveness as well as key interventions to strengthen EV policy. Therefore, to determine the quality and the effectiveness of EV policies, a quantitative analysis of EV policies by using the Hamming distance and the L1 norm (Manhattan distance) has been proposed in this paper. The policies are analyzed based on essential interventions to promote and strengthen electric mobility. This paper proposes an L1 norm-based EV policy analysis that assigns a remoteness score to indicate the status of the existing EV policy and its implementation when compared to the ideal EV policy. The paper proposes an approach that is based on three methods to improve the remoteness score: cost of intervention implementation, benefit of the intervention to the EV ecosystem, and the number of move/steps that are required to reduce the remoteness score. The proposed approach as applied to various Indian State EV policies has identified the States whose EV policies have lower remoteness score, thereby highlighting the States having relatively better EV policies. The analysis of these methods for optimal intervention selection when implemented for various State EV policies shows that the intervention implementation cost-based method is the most economical one. This paper formulates a linear optimization problem with the objective of intervention-implementation cost minimization to develop an economical roadmap to reduce the remoteness score. Recommendations for EV policy makers and stakeholders using an optimization based quantitative analysis of EV policies in India are also presented in this paper.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"3 1","pages":"46-58"},"PeriodicalIF":0.0,"publicationDate":"2024-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143621666","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}

引用次数: 0

Game-Based Feedback Control Design Toward Dynamic Energy Market 基于游戏的动态能源市场反馈控制设计

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-03 DOI: 10.1109/TEMPR.2024.3454234

Yingzhe Jia;Yiliang Li;Wei Qiu;Long Chen;Kaiqi Sun;Yuying Zhang;Heung-Wing Joseph Lee;Jun-e Feng;Vladimir Terzija

{"title":"Game-Based Feedback Control Design Toward Dynamic Energy Market","authors":"Yingzhe Jia;Yiliang Li;Wei Qiu;Long Chen;Kaiqi Sun;Yuying Zhang;Heung-Wing Joseph Lee;Jun-e Feng;Vladimir Terzija","doi":"10.1109/TEMPR.2024.3454234","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3454234","url":null,"abstract":"In the modern power grids, the energy market has been developing rapidly, along with the growth of multi-energy combined tradings. Consequently, studies of interactions behaviours between various agents (e.g., game theory) in the energy market becomes prevalent to properly analyze and regulate the energy market. However, most of existing works have been focusing on the equilibria analysis of static games, and little works have been done regarding designing feedback control on dynamic games, particularly when the system dynamics changes under disturbances. In this paper, a novel game-based feedback control design method is proposed using semi-tensor product (STP) of matrices. The state-space equations of the dynamic game is firstly derived considering the decision logics and interactive correlations between various agents in the energy market. Then, a novel set of mathematical derivations has been proposed to implement control on some agents such that the price of the energy market can be regulated despite of randomly changing states and potential disturbances to the decision making. Finally, a simulated energy market using the proposed STP game-based control is demonstrated, where the results are discussed and the effectiveness of the proposed method is validated.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 4","pages":"561-569"},"PeriodicalIF":0.0,"publicationDate":"2024-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142810692","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}

引用次数: 0

Flexible Ramping Product Procurement in Day-Ahead Markets 日前市场中的灵活斜坡产品采购

IEEE Transactions on Energy Markets, Policy and Regulation Pub Date : 2024-09-03 DOI: 10.1109/TEMPR.2024.3453907

Ogün Yurdakul;Erik Ela;Farhad Billimoria

{"title":"Flexible Ramping Product Procurement in Day-Ahead Markets","authors":"Ogün Yurdakul;Erik Ela;Farhad Billimoria","doi":"10.1109/TEMPR.2024.3453907","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3453907","url":null,"abstract":"Flexible ramping products (FRPs) emerge as a promising instrument for addressing steep and uncertain ramping needs through market mechanisms. Initial implementations of FRPs in North American electricity markets, however, revealed several shortcomings in existing FRP designs. In many instances, FRP prices failed to signal the true value of ramping capacity, most notably evident in zero FRP prices observed in a myriad of periods during which the system was in acute need for rampable capacity. These periods were marked by scheduled but undeliverable FRPs, often calling for operator out-of-market actions. On top of that, the methods used for procuring FRPs have been primarily rule-based, lacking explicit economic underpinnings. In this paper, we put forth an alternative framework for FRP procurement, which seeks to set FRP requirements and schedule FRP awards such that the expected system operation cost is minimized. Using real-world data from U.S. ISOs, we showcase the relative merits of the framework in (i) reducing the total system operation cost, (ii) improving price formation, (iii) enhancing the the deliverability of FRP awards, and (iv) reducing the need for out-of-market actions.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"3 1","pages":"13-31"},"PeriodicalIF":0.0,"publicationDate":"2024-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143621539","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}

引用次数: 0