Study On Regulation Reserve Trading Mechanism Considering Large-scale Wind Power Integration

As a substitute of fossil fuels, wind power is a typical representative of renewable resources, which can be developed on a large scale. Nowadays wind power has a development prospect as power system’s wind power penetration rate becomes higher and higher. Wind power has a strong stochastic volatility, which can increase power system’s uncertainty and brings risks to the safety and reliability of power system as large-scale wind power penetrates.Sufficient regulation reserve can guarantee the reliable operation of power system facing various uncertainties. When large-scale wind power penetrates in regional power grid, wind power’s minute-level fluctuations and counter-peaking characteristics increase the regulation difficulty. Regulation reserve acquisition is scheduled in China, which can be dispatched as needed and the compensation is complied with uniform standards. This mechanism is inefficient and can hardly increase the participants’ motivation to supply regulation reserve. The regulation reserve trading mechanism designed in this dissertation will contribute to the safety and reliability of power system considering large-scale wind power, which is also a key to the development of wind power and the construction of electricity market in our country.This dissertation discusses the influence of large-scale wind power on the regulation reserve requirement based on an analysis of current research results. Then the dissertation proposed an evaluation system about regulation performance consisting of three metrics, which are regulation quantity index, regulation contribution factor and regulation completion index. A market mechanism of regulation reserve is proposed based on the evaluation system. Based on this market mechanism, a competitive electricity market model consisting of a day-ahead market and several intra-day markets is considered. The model is a multi-stage stochastic optimization model considering energy, spinning reserve and regulation reserve under wind power uncertainty. Simulations are conducted to present the benefit of the market model above based on a large-scale wind power integrated power system.