Abstract
Policies on energy saving are implemented in more and more countries over recent years. In China, the generation-rights trade (GRT), as one of the widely practiced and effective measures, is playing a critical role in this regard. For most of the generation-rights markets, the centrally matchmaking trading is currently the predominant mode. Nevertheless another feasible mechanism for GRT, the bilateral contract, possesses certain complementary advantages over the matchmaking trade. It seems to be necessary to build up a hybrid market for GRT with both of the two trading mechanisms. By adopting the hybrid market, however, some new problems may occur, such as how to maintain equality and efficiency simultaneously when curtailing different trades in case of congestion. To address such a challenge, the authors proposed a coordinated congestion dispatching model for the hybrid generation-rights market. The model was designed with a number of modified versions aiming at non-discriminatory treatment to the different types of trade. The features of the proposed models were demonstrated in the case study using the IEEE one-area RTS96 system. Copyright © 2010 John Wiley & Sons, Ltd.
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