Pricing ancillary services together with energy in spot power market based on Vargas equilibrium theory

Chuan Bin Chen; Shou Hui Yang; Liang Yuan Wang; Ying Jun Lin

doi:10.1117/12.2585546

8 December 2020 Pricing ancillary services together with energy in spot power market based on Vargas equilibrium theory

Chuan Bin Chen, Shou Hui Yang, Liang Yuan Wang, Ying Jun Lin

Proceedings Volume 11606, ICOSM 2020: Optoelectronic Science and Materials; 116060H (2020) https://doi.org/10.1117/12.2585546
Event: Second International Conference on Optoelectronic Science and Materials (ICOSM 2020), 2020, Hefei, China

Abstract

The Vargas equilibrium theory is introduced into spot power market for pricing ancillary services together with energy. Firstly, the general competitive equilibrium model of power market is established by taking the active power, reactive power and operating reserve as traded commodities. Then, impact on active power pricing is analyzed according to partial competitive equilibrium model of power market. Finally, the equal price method is used to calculate the Vargas equilibrium point. Case study on IEEE30-bus system shows that the method proposed is very effective.

Citation Download Citation

Chuan Bin Chen, Shou Hui Yang, Liang Yuan Wang, and Ying Jun Lin "Pricing ancillary services together with energy in spot power market based on Vargas equilibrium theory", Proc. SPIE 11606, ICOSM 2020: Optoelectronic Science and Materials, 116060H (8 December 2020); https://doi.org/10.1117/12.2585546

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