WANG Yi,YANG Zhifang,YU Juan,et al.Analysis and Extension of Internal Relationship Between Locational Marginal Price and Dual Multiplier[J].Automation of Electric Power Systems,2021,45(6):82-91.
WANG Yi,YANG Zhifang,YU Juan,et al.Analysis and Extension of Internal Relationship Between Locational Marginal Price and Dual Multiplier[J].Automation of Electric Power Systems,2021,45(6):82-91. DOI: 10.7500/AEPS20200718001.
Analysis and Extension of Internal Relationship Between Locational Marginal Price and Dual Multiplier
Scientific and reasonable electricity prices are crucial to resource allocation in electricity market. As the common used marginal price formulation
the electricity price is generally formulated as a linear function of the dual multiplier. Based on the basic pricing principle
the physical meaning of the electricity price is clarified
and the internal relationship between the electricity price derived from the marginal pricing principle and the price of system scarce resources is explained. The rationality of the proposed electricity price formulation is also proven. On this basis
a unified expression for electricity price with expandability is extended to a non-linear function electricity price formulation. A pricing model that regards the electricity prices as operational variables is established
and the practical value of the proposed electricity price method is demonstrated in typical application scenarios of price spikes caused by the line violation through the IEEE 30-bus system and Polish 2383-bus system examples.
WANG Jianxiao , ZHONG Haiwang , XIA Qing , et al . Competitive mechanism design in electricity market based on fair benefit allocation [J]. Automation of Electric Power Systems , 2019 , 43 ( 2 ): 7 - 18 .
YANG Qiang , CAI Huaxiang , YAN Minghui , et al . Design and application of Yunnan electricity market mechanism according to the theory of incentive compatibility and game in depth [J]. Yunnan Electric Power , 2018 , 46 ( 2 ): 73 - 80 .
LIU Chang , FENG Donghan , FANG Chen . Judgment mechanism of multiple solutions for electricity price in real-time market [J]. Automation of Electric Power Systems , 2020 , 44 ( 1 ): 43 - 52 .
YANG Z F , BOSE A , ZHONG H W , et al . LMP revisited: a linear model for the loss-embedded LMP [J]. IEEE Transactions on Power Systems , 2017 , 32 ( 5 ): 4080 - 4090 .
LITVINOV E , ZHENG T X , ROSENWALD G , et al . Marginal loss modeling in LMP calculation [J]. IEEE Transactions on Power Systems , 2004 , 19 ( 2 ): 880 - 888 .
SCHWEPPE F C , CARAMANIS M C , TABORS R D , et al . Spot pricing of electricity [M]. Boston , USA: Springer Science & Business Media , 2013 .
ORFANOGIANNI T , GROSS G . A general formulation for LMP evaluation [J]. IEEE Transactions on Power Systems , 2007 , 22 ( 3 ): 1163 - 1173 .
CHEN L N , SUZUKI H , WACHI T , et al . Components of nodal prices for electric power systems [J]. IEEE Transactions on Power Systems , 2002 , 17 ( 1 ): 41 - 49 .
LI Zhu , PANG Bo , LI Guodong , et al . Development of unified European electricity market and its implications for China [J]. Automation of Electric Power Systems , 2017 , 41 ( 24 ): 2 - 9 .
SHI Xinhong , ZHENG Yaxian , XUE Bike , et al . Effect analysis of unit operation constraints on locational marginal price of unit nodes [J]. Power System Technology , 2019 , 43 ( 8 ): 2658 - 2665 .
SARKAR V , KHAPARDE S A . DCOPF-based marginal loss pricing with enhanced power flow accuracy by using matrix loss distribution [J]. IEEE Transactions on Power Systems , 2009 , 24 ( 3 ): 1435 - 1445 .
CHEN Zhixu , ZHANG Lizi , SHU Jun . AC-DC iterative methods for calculating locational marginal price with losses [J]. Automation of Electric Power Systems , 2007 , 31 ( 11 ): 22 - 25 .
LIPKA P , OREN S S , O’NEILL R P , et al . Running a more complete market with the SLP-IV-ACOPF [J]. IEEE Transactions on Power Systems , 2017 , 32 ( 2 ): 1139 - 1148 .
WANG Q , ZHANG G Y , MCCALLEY J D , et al . Risk-based locational marginal pricing and congestion management [J]. IEEE Transactions on Power Systems , 2014 , 29 ( 5 ): 2518 - 2528 .
WU F , VARAIYA P , SPILLER P , et al . Folk theorems on transmission access: proofs and counterexamples [J]. Journal of Regulatory Economics , 1996 , 10 ( 1 ): 5 - 23 .
O’NEILL R P , SOTKIEWICZ P M , HOBBS B F , et al . Efficient market-clearing prices in markets with nonconvexities [J]. European Journal of Operational Research , 2005 , 164 ( 1 ): 269 - 285 .
GRIBIK P R , HOGAN W W , POPE S L . Market-clearing electricity prices and energy uplift [R/OL]. [ 2019-11-20 ]. https://www.docin.com/p-1361248094.html https://www.docin.com/p-1361248094.html .
LIBEROPOULOS G , ANDRIANESIS P . Critical review of pricing schemes in markets with non-convex costs [J]. Operations Research , 2016 , 64 ( 1 ): 17 - 31 .
HOGAN W W , RING B J . On minimum-uplift pricing for electricity markets [R/OL]. [ 2020-03-19 ]. https://sites.hks.harvard. Edu/fs/whogan/minuplift031903.pdf https://sites.hks.harvard.Edu/fs/whogan/minuplift031903.pdf .
SCHIRO D A , ZHENG T X , ZHAO F , et al . Convex hull pricing in electricity_newline markets: formulation, analysis, and implementation challenges [J]. IEEE Transactions on Power Systems , 2016 , 31 ( 5 ): 4068 - 4075 .
HUA B W , BALDICK R . A convex primal formulation for convex hull pricing [J]. IEEE Transactions on Power Systems , 2016 , 31 ( 5 ): 3814 - 3823 .
WANG C C , LUH P B , GRIBIK P , et al . Commitment cost allocation of fast-start units for approximate extended locational marginal prices [J]. IEEE Transactions on Power Systems , 2016 , 31 ( 6 ): 4176 - 4184 .
FANG Xinxin , YANG Zhifang , YU Juan , et al . Theoretical analysis and extension of locational marginal price [J]. Proceedings of the CSEE , 2020 , 40 ( 2 ): 379 - 390 .
AL-ABDULLAH Y M , SALLOUM A , HEDMAN K W , et al . Analyzing the impacts of constraint relaxation practices in electric energy markets [J]. IEEE Transactions on Power Systems , 2016 , 31 ( 4 ): 2566 - 2577 .
YANG Z F , ZHONG H W , LIN W , et al . Mapping between transmission constraint penalty factor and OPF solution in electricity markets: analysis and fast calculation [J]. Energy , 2019 , 168 : 1181 - 1191 .
MOTTO A L , GALIANA F D . Equilibrium of auction markets with unit commitment: the need for augmented pricing [J]. IEEE Transactions on Power Systems , 2002 , 17 ( 3 ): 798 - 805 .
VAN VYVE M . Linear prices for non-convex electricity markets: models and algorithms [R/OL]. [ 2019-12-21 ]. https://www.researchgate.net/publication/239806267_Linear_prices_for_non-convex_electricity_markets_models_and_algorithms https://www.researchgate.net/publication/239806267_Linear_prices_for_non-convex_electricity_markets_models_and_algorithms .
DING Xiaoying , WANG Xifan . Nodal pricing model based on independent price variables [J]. Automation of Electric Power Systems , 2006 , 30 ( 8 ): 16 - 20 .
RUIZ C , CONEJO A J , GABRIEL S A . Pricing non-convexities in an electricity pool [J]. IEEE Transactions on Power Systems , 2012 , 27 ( 3 ): 1334 - 1342 .
O’NEILL R P , CASTILLO A , ELDRIDGE B , et al . Dual pricing algorithm in ISO markets [J]. IEEE Transactions on Power Systems , 2017 , 32 ( 4 ): 3308 - 3310 .
YANG Z F , ZHENG T X , YU J , et al . A unified approach to pricing under nonconvexity [J]. IEEE Transactions on Power Systems , 2019 , 34 ( 5 ): 3417 - 3427 .
FANG X X , YANG Z F , YU J , et al . Electricity pricing under constraint violations [J]. IEEE Transactions on Power Systems , 2020 , 35 ( 4 ): 2794 - 2803 .
Clearing Model and Pricing Method for Capacity Market Considering Flexible Regulation Requirement
Transnational/Interstate and Trans-provincial/Trans-regional Transmission Pricing Mechanism and Its Enlightenment for Pricing of Dedicated Projects in China
Benefit Allocation Mechanism Design of Electricity Markets with Penetration of High Proportion of Renewable Energy
基于激励相容与深度博弈的云南电力市场机制设计及应用
Related Author
QU Ying
XIAO Yunpeng
ZHANG Chen
WANG Xiuli
ZHU Yibing
CONG Ye
ZHANG Lizi
HU Yuou
Related Institution
School of Electrical Engineering, Xi’an Jiaotong University
School of Electrical and Electronic Engineering, North China Electric Power University
Academy of Modern Electric Power Research, North China Electric Power University
North China Branch of State Grid Corporation of China
State Key Laboratory of Alternate Electrical Power System with Renewable Energy Sources (North China Electric Power University)