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Research On Purchasing Strategy Of A Pumped Storage Plant In An Electricity Market

Posted on:2005-03-01Degree:DoctorType:Dissertation
Country:ChinaCandidate:Z G QiFull Text:PDF
GTID:1116360152468351Subject:Power system and its automation
Abstract/Summary:PDF Full Text Request
In the systems of electric grid, a pumped storage plant is mainly responsible forsystem-optimized operation by peak-shaving and valley-filling. Unlike other generationplants, its benefit comes from capacity one, which equals to the difference between saleincomes at peak blocks and purchasing costs at valley time blocks. It is one of theapproaches to implement the obligation for pumped storage plants to be controlled byIndependent System Operators (ISO) according to capability tenancy. This paper startsfrom analysis pumped storage costs. The purchasing cost is mainly researched according tocapability tenancy. Forecasting market prices and purchasing costs optimization of pumpedstorage plant are deeply studied using game theory, operational research and statistics. Allresearch works in the paper are outlined as following: (1) Addresses simply regulations of generation market, bidding strategies, and pricingschemes. The theory of pumped storage plant and its main application to electricity marketsare also illustrated. Introduces typical markets of domestic and foreign countries, anddescribes their infrastructure, obligations in the market. (2) Addresses primarily purchasing transaction of pumped storage in a competitiveelectricity market and its necessity. Shows the importance to research on purchasing costsof a pumped storage plant. (3) Introduces application of game theory in electricity markets. Describes biddingcourses of generators in generation market by making use of game theory. All generatorsparticipating in the market are equivalent to a virtual generator by theory of virtualequivalent generator. A quadratic function is chosen to be a cost function of the equivalentgenerator. Makes parameter estimation of the quadratic function by the method of least IIIsquares. The reasons for using the method are to comply with market regulation, simplifycalculation and attain good precision. (4) To create the profit function of equivalent power generator. Gain forecastingtransaction prices by Cournot Nash equilibrium theory under the condition of overalloptimal operation of electric grid. The forecasting bidding price function of virtualequivalent power generator is consequently acquired. (5) Assumes that purchasing electricity of pumped storage is conducted by ISOaccording to capability tenancy. Analyze the impact of equivalent generator differentialincrement upon market trading prices, which is to be as purchasing prices. Then yieldsoptimal purchasing strategies of pumped storage at each block by Lagrange Relaxation. Thestrategies are subjected to optimal operation of electric grid and power limitation. Inaddition analyzes impact of optimal operation constraints upon purchasing strategy. (6) Load data of electric grid in a province of southern China for one-day operation isused to simulate the environment of an electricity market. Analyzes the good impact ofpurchasing strategy presented in this paper upon stable load of electric grid and decreasingcost of shutdown and startup of units. (7) Addresses various risks such as performance, volume, price, regulatory, credit, andoperation when pumped storage plants participant in an electricity market. From what has been discussed in the paper, it is safe to drawn the conclusion that apumped storage plant can improve its benefit by using certain purchasing strategies whileensuring ancillary services in an electricity market. In the end of the paper, summarizesoverall paper and points out problems required to studied farther.
Keywords/Search Tags:Electricity market, game theory, Lagrange, Cournot equilibrium state, pumped storage, virtual equivalent generator, virtual equivalent cost function, purchasing cost, startup and shutdown of units
PDF Full Text Request
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