Research On Wind & Thermal Power Joint Bidding Strategy Based On Renewable Portfolio Standard

In recent years,the growing contradiction between consumption of global energy resource and environmental protection has promoted the rapid development of renewable energy.However,the volatility and uncertainty of renewable energy power generation lead to the insufficient consumptive ability in the market,and the curtailment of wind and solar power occur frequently.The incentive mechanism of renewable energy participation in electricity market of typical market-oriented countries is investigated in the aspects of price mechanism,bidding mode and settlement mechanism.It is concluded that implementing renewable portfolio standard(RPS)and promoting the participation of renewable energy in the market are the main strategies to strengthen capacity to absorb renewable energy in the future.The following research is carried out around the bidding strategy of wind power participation in the electricity market under RPS:First,the working mode of RPS is deeply researched in terms of basic concepts,economic principles and distribution basis,and current situation of renewable energy development is analyzed.Second,a two-layer model of electricity market with wind power producers price bidding strategy is built,in which the upper model is used to simulate the bidding behavior among generators based on non-cooperative game theory,and the lower model is used to simulate the market clearing process based on supply function equilibrium theory.The ex-post deviation settlement mechanism is considered to constrain and assess bidding behavior of power producers by market operators.Third,the benefits of wind power producers between two bidding strategies which are the independent bidding and wind&thermal power joint bidding are compared.At the same time,the paper also makes a comparation on the benefits of wind power producers between before and after the implementation of RPS.Multi-objective Particle Swarm Optimization(MPSO)algorithm is used to solve the two-layer model.The results show that before and after the implementation of RPS,wind&thermal power joint bidding can effectively improve the benefits of wind power producers compared with the independent bidding.Meanwhile the implementation of RPS also can increase the benefits of wind power producers and realize the allocation of high cost of wind power generation among other traditional thermal power providers,which have greatly promoted the development and absorption of renewable energy.Finally,the effects of green certificate price,renewable energy quota ratio,combined thermal power unit capacity,ex-post deviation settlement price on wind power generation benefits are explored based on the above model.Market operators need to adjust the ex post deviation settlement price according to the change of green certificate price and quota ratio in time,so as to avoid the speculation of generators and ensure the stability of market operation.Wind&thermal power joint bidding model proposed in this paper can effectively improve the benefits of wind power producers when they participate in the electricity market,and it also proves the necessity of implementing RPS and its beneficial effects.It provides a new idea for wind power producers which participate in the electricity market to develop the bidding strategy for the future.