A Transition Mechanism for the Participation of Renewable Energy Generation Companies in Competitive Electricity Spot Markets

Wang, Kun, Deng, Hui, Yang, Jiajia, Xu, Chengwei, Zhou, Ziqing, Wen, Fushuan, and Qi, Donglian (2022) A Transition Mechanism for the Participation of Renewable Energy Generation Companies in Competitive Electricity Spot Markets. Frontiers in Energy Research, 10. 911872.

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Under the China’s ‘dual carbon’ national goal–reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060, one of the key issues in China is how to smoothly transit from a fixed-price mode to a competitive market pricing mode for renewable energy generation companies. Aiming at minimizing governmental subsidies and maximizing the fairness among renewable energy generation companies, a multi-agent three-layer transition mechanism with the transactions of green certificates considered is proposed in this paper. Through adjusting subsidy policies, the developed transition mechanism can stimulate the renewable energy generation companies to gradually participate in the competitive electricity spot market. Specifically, a multi-market multi-agent transaction framework in the transition mechanism is first established. Then, in order to derive the important parameters of the transition mechanism, a method that decouples the electricity market and the green certificate market is designed. Finally, the feasibility and efficiency of the proposed transition mechanism are demonstrated through numerical examples.

Item ID: 78129
Item Type: Article (Research - C1)
ISSN: 2296-598X
Copyright Information: Copyright © 2022 Wang, Deng, Yang, Xu, Zhou, Wen and Qi. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
Date Deposited: 12 Apr 2023 22:55
FoR Codes: 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3506 Marketing > 350610 Pricing (incl. consumer value estimation) @ 30%
49 MATHEMATICAL SCIENCES > 4905 Statistics > 490506 Probability theory @ 30%
49 MATHEMATICAL SCIENCES > 4903 Numerical and computational mathematics > 490304 Optimisation @ 40%
SEO Codes: 15 ECONOMIC FRAMEWORK > 1501 International trade policy > 150103 Trade policy @ 30%
15 ECONOMIC FRAMEWORK > 1505 Microeconomics > 150511 Supply and demand @ 30%
15 ECONOMIC FRAMEWORK > 1599 Other economic framework > 159901 Carbon and emissions trading @ 40%
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