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Bidding model of pumped-storage power plants participating in electricity market

Published: 31 July 2024 Publication History

Abstract

This paper first introduces the current situation of pumped storage power plants (PSPP) participating in the electricity markets. Then, the bidding models for PSPP in the electricity energy market and frequency-regulation market are proposed. According to the proposed model, the electricity price and unit profit is analyzed in the two markets. Finally, a case study in Guangdong electricity market is utilized to valid the effetiveness of the bidding models.

References

[1]
Y. An, Z. Zhao, S. Wang, Q. Huang, and X. Xie, "Optimized scheduling of multiple energy complementary power stations with hydro/wind/photovoltaic/battery storage based on cascade hydropower stations," CSEE JPES, vol. 6, no. 2, pp. 410-418, 2019.
[2]
Wei Mengru A study on the pricing mechanism for peak shaving auxiliary services provided by pumped storage power stations [D]. North China Electric Power University (Beijing), 2023.
[3]
Xie Daoqing, Zhang Mao, Liu Sijia, Research on the Price Mechanism of Pumped Storage Power plants under Different Development Stages of the Electricity Market [J]. Demand Side Management of Electricity, 2023, 25 (04): 99-104.
[4]
Luo Kaiyan, Wang Rui, Liu Qing, Analysis of Profit Models for Pumped Storage Power Stations Abroad [J]. China Energy, 2022, 44 (07): 16-23.
[5]
Liu Fei, Che Yanying, Tian Xu, Optimization operation strategy for pumped storage power stations considering participation risks in the electricity market [J]. Water Resources and Hydropower Technology (Chinese and English), 2022, 53 (07): 94-104. wrahe. July 9, 2022.
[6]
Liu Yang, He Yongxiu, Li Moxing, Design and Benefit Evaluation of Price Market Connection Mechanism for Pumped Storage Power Stations in a Market Environment [J]. Modern Electric Power, 2023, 40 (01): 42-49.
[7]
Liu Peiliang Research on Joint Bidding Strategies for Pumped Storage Power Stations and New Energy Electricity Markets [D]. North China Electric Power University (Beijing), 2022.

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  1. Bidding model of pumped-storage power plants participating in electricity market

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    PEAI '24: Proceedings of the 2024 International Conference on Power Electronics and Artificial Intelligence
    January 2024
    969 pages
    ISBN:9798400716638
    DOI:10.1145/3674225
    Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than the author(s) must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected].

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    Association for Computing Machinery

    New York, NY, United States

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    Published: 31 July 2024

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