Analysis of power market simulation methods under the background of re-electrification

Abstract

The world is experiencing a new round energy transition from fossil energy to clean energy. To many countries, continuously upgrading electrification level and accommodate more wind power and solar power to achieve re-electrification roadmap, will be a trend and the only way of these countries’ energy transition. In this paper, challenges brought by large-scale wind power and solar power to power system operation are analyzed from the aspects of accommodation, fluctuation characteristics, prediction error, power electronics characteristics and pulling down system marginal cost. Also, key issues of power market simulation methods, such as co-considered day-ahead market and real-time market by use of Security Constrained Unit Commitment (SCUC) model and Security Constrained Economic Dispatch (SCED) model respectively, co-optimized energy and ancillary service market and added rotational inertia verification in SCUC model, are studied.