Abstract
The challenge of harmonizing the integration of renewable energy in market-driven transactions and assured accommodations presents a predicament in the development of China's electricity spot market. Moreover, as renewable energy penetration escalates, the issue of reserve undeliverability due to transmission congestion diminishes the power system's capacity to utilize renewable energy resources. To address this concern, this study introduces a secondary clearing mechanism for the electricity spot market, taking into account the proportion of renewable energy consumption quotas. Based on the first clearing, when renewable curtailment occurs, the bid pricing of abandoned power units undergoes flexible adjustment through the optimization of the price correction coefficient, followed by the execution of a secondary clearing utilizing the revised bidding information to fulfill the stipulations of the renewable energy consumption quota ratio. Drawing on the outcomes of the two-stage clearing, an incentive-compatible settlement compensation mechanism is proposed to preserve the impartiality of the market operator. The spot market clearing model accounts for the transmission safety margin, effectively mitigating the likelihood of transmission congestion, reserve inaccessibility, and renewable energy curtailment issues in real-time dispatching. Finally, a modified IEEE 30-bus system serves to substantiate the efficacy of the proposed market mechanism.
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