The Research Of Optimal Electricity Procurement Strategy With Renewable Portfolio Standards

With the development of renewable energy and the reform of the electricity market,the world of renewable energy policies gradually develops from support policies to the green power market,particularly in the retail electricity market,the implementation of the Renewable Portfolio Standard(RPS) was mainly targeted at the power retailers.Retailers in the process of purchasing electricity not only to meet the demand for consumers,but also the completion of quota targets,so it requires a new electricity procurement strategy.In this paper, aimed at the retail electricity market retailers,first set forth the RPS and the green certificate trading market-related issues,then proposes an annual quota assigned to the corresponding periods a day of distribution,then builds a optimal model in order to minimize the cost of purchasing electricity and the risk of the goal in the physical power market and Green certificate trading market.With MATLAB financial toolbox in the optimal portfolio of the border effectively function to solve the model.The historical data of Texas electricity market and wind power are used to test and comparatively analyze the presented approach in different market structures.The results could be extended for further a comprehensive study of Electricity Procurement Strategy with renewable energy sources.