Abstract
In countries with large-scale power systems and nascent electricity markets, the inter-regional electricity trading aggregators (IRETAs) are in charge of participating in inter-regional electricity trading (IRET) on behalf of the generators and loads within the region except for operating the regional power systems (RPSs). As price makers in IRET and system operators of RPSs, IRETAs should make their bidding strategies considering both the RPSs’ reliability requirements and the IRET’s transmission losses to ensure both the safe operation of RPS and the profits in the IRET, which cannot be handled by the current methods. Therefore, this paper investigates an approach to help IRETAs make comprehensive bidding strategies in the IRET. Firstly, a hierarchical framework for an IRETA to participate in IRET is introduced. Then a bi-level model is proposed, in which the optimal operation of RPS and the market-clearing process of IRET are regarded as the upper and lower-level problems. Specifically, the upper-level problem is modeled as a two-stage stochastic optimization problem considering both the fault states and the reliability requirements of RPS. Moreover, the non-negligible losses from the inter-regional electricity transmission are internalized in the lower-level problem to consider their impacts on the IRETA’s bidding strategy-making. The proposed bi-level model is nonlinear and transformed into a linear single-level one through the Karush-Kuhn-Tucker (KKT) conditions and the dual theory. Finally, simulations demonstrate that the bidding strategy formed by the proposed method reduces the number of buses exceeding the limit of reliability requirement by over 50% and cuts down the transmission loss by over 40% compared with the former works.
Highlights
CONTRIBUTIONS In the light of the weak points of former works mentioned in the last subsection, this paper aims to bring a novel model to formulate the optimal bidding strategy of an inter-regional electricity trading aggregators (IRETAs) in inter-regional electricity trading (IRET) with the reliability requirements of regional power systems (RPSs) and the interregional electricity transmission losses
The inter-regional power system for IRET is composed of 6 High Voltage Direct Current (HVDC) lines and 4 HVAC lines
The IRETA i is selected as the objective for bidding strategy-making in IRET
Summary
A. BACKGROUND AND MOTIVATION Facing the unbalanced spatial distribution between electricity resources and demands, many countries (or regions) are opening their borders to a greater degree of competition in the market-orientied electricity transaction, resulting in a trend toward inter-regional electricity trading (IRET) [1], [2]. Compared to conventional electricity trading held within a specific region, IRET can better allocate the electricity resources and. Several attempts on IRET have already been launched in Europe, where a competitive Internal Electricity Market (IEM) has been built to achieve a single inter-regional European electricity market [3]. In 2019, the electricity traded through the IRET in China has reached 1061.9 billion kWh, accounting for nearly half of the total electricity trading volume across the country [6]
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