Trading Models And Bidding Strategies Of Generation Rights

Generation-right trading(GRT),which is an important method to guide the low energy consumption units to replace the high energy consumption units,has been gaining intensive attention.The dispatching planning can be flexibly traded through GRT.GRT provides the low energy consumption units and renewable energy units more power generating volume,improves the efficiency of resource utilization,and reduces the pollutant emission from the high energy consumption units.What’s more,it brings a certain economic compensation to the seller units.GRT provides the solution to adjust the dispatching planning between units,carry out the energy-saving dispatching policy,and shut down small thermal power plants.It promotes country’s power structure optimization,nenergy conservation and emission reduction policy.Given this background,some relevant topics have been preliminarily researched and the main focus of this thesis could be summarized as follows:(1)An overview of GRT theory and research status.The background and research significance of GRT are introduced to show the necessity of GRT.On this basis,the GRT theory is introducted,including the definition of GRT,the main parties form in the trade,the transaction modes and the pricing mechanism in the GRT.Finally,the research status of GRT is systematically investigated from three different aspects,the model design,mechanism optimization and the bidding strategy,respectively.(2)The bilateral negotiation strategy is addressed for the GRT employing the two-part electricity pricing mechanism.Specifically,a model is first presented for computing the trading benefits for both sides participating in a two-part electricity pricing based generation-right trade mode,and then the estimation of the opponent’s base price is improved by applying the Bayesian learning model.On this basis,the next round bidding price is determined by comprehensively considering the weights of issues and the greatest risk degree.After several rounds of negotiations,the final settlement price can be determined.Final,a numerical example is served for demonstrating the presented method,and it is shown by simulation results that the settlement price is converged to the theoretical optimal solution,and is dependent on the bidding strategies of both sides.(3)A risk-constrained optimal bidding strategy for generation companies is developed in GRT market.Specifically,the trading costs and benefits are first addressed for both sides participating in the generation-right trade.An optimization model is presented for developing a risk-constrained optimal bidding strategy for generation companies participating in the high-low matching mechanism based generating-right trading market,and solved by the well-established Monte Carlo simulation method.Finally,a numerical example is served for demonstrating the presented method,and the impacts of bidding behaviors of other power companies on the optimal bidding strategy of the studied power company examined.(4)The benefit model for both sides are established,and the Nash equilibrium stability process of generation-right trade is studied.First,the benefit model for both sides is presented,and the break-event point and the reservation price for generation-right are also defined.Then,according to the high-low match auction mechanism and the benefit model,the corresponding optimal bidding strategy in the trade mode based on centralized price bidding is proposed.Further,on this basis,assuming that the traders are rational,the Nash equilibrium is solved utilizing the numerical method.Finally,the proposed method is demonstrated through an example,whose results reveal that the prevailing side will get much benefit while the inferior side will only get little benefit.The Nash equilibrium is affected by the reservation price of the inferior side.(5)The preliminary study of this thesis are summarized and the future research directions is also indicated.