Research On Energy-Scheduling Model In Spot Market And Risk Assessment

The trading model consisting of day-ahead market and real-time market exists in most of power markets. The power purchaser must consider how to allocate the specified power energy between the two markets to minimize the purchasing cost and to limit the market risk. This paper firstly compares the market clearing price (MCP) settlement method with the pay-as-bid (PAB) settlement method; then analyzes the features of separate purchasing energy in day-ahead market and real-time market and points out this kind of separate purchasing mechanism not the most economical. Based on the analysis, this paper puts forward an optimal model considering risk factors that incorporates day-ahead energy scheduling with real-time energy scheduling. Case studies show that the proposed model is with higher economy than the conventional separate energy dispatching approach, and it can hedge the market risk.