Research On Settlement Price Mechanisms For Electricity Market Based On Generation Companies' Bidding Strategies

The power industry worldwide is experiencing unprecedented restructuring for breaking traditional monopoly, introducing competition and establishing electricity markets. Since 1980's when United Kingdom started the revolution of Power industry, many countries in the world opened their Power markets. China's power industry is undergoing restructuring too.Now in our country, the most popular market transaction mode is the pool market,and MCP mechanism (market clearing price) as well as PAB mechanism (pay-as- bid) is the most popular electrovalence mechanism. According to these facts,this paper studies the problem that in a pool market,comparison two kinds of mechanisms pros and cons.According to the features of two kinds of mechanism, this paper analysis the competitive behavior that the generation company may conduct,discuss the generation companies'bidding strategy. The strategy based on cost analysis of generation companies is the base of biding strategy, this paper presents the cost curve of units, fitting the power plant approximate cost characteristic function and the price function, and then form the generation companies'bidding curves. And based on this, form the bidding curves of exercise speculative strategy. Set the model of the DP-TC solving the problem of UC optimization under MCP and PAB mechanism.The paper uses the real data of Central China Grid Company, simulation market clearing under MCP and PAB. Analysis the prices and fluctuations, research the mechanism which is fit to Huazhong regional electricity market, Offer reference to reform regional electricity market.