Title :
Decomposition of market clearing price based on single price auction model
Author :
Wachi, Tsunehisa ; Fukutome, Suguru ; Makino, Yoshinori ; Chen, Luonan
Author_Institution :
JP Bus. Service Corp., Tokyo
Abstract :
In this paper, we propose a method to decompose market clearing price (MCP) for Japanese electricity market (single price auction market), i.e., MCP is divided into a variety of components corresponding to the concerned factors, such as bidding curves, transmission congestion, voltage limitations and other constraints. The decomposition is unique and components in MCP are identical to their increment values from the economics viewpoint because the derivations are based on the marginal conditions. This full information for MCP can be used not only to improve the efficient usage of power grid and congestion management, but also to design and analyze a bidding strategy, or to provide economic signals for generation or transmission investment.
Keywords :
power grids; power markets; power system economics; pricing; Japanese electricity market; bidding curves; congestion management; generation economic signals; market clearing price decomposition; power grid; single price auction model; transmission congestion; transmission investment; voltage limitations; Electricity supply industry; Energy management; Information analysis; Mesh generation; Power generation economics; Power grids; Power system economics; Signal analysis; Signal design; Voltage; Decomposition of price; Electricity market; Optimal Power Flow; Single Price Auction;
Conference_Titel :
Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century, 2008 IEEE
Conference_Location :
Pittsburgh, PA
Print_ISBN :
978-1-4244-1905-0
Electronic_ISBN :
1932-5517
DOI :
10.1109/PES.2008.4596346