A Comparative Analysis of Two Pricing Mechanisms, MCP and PAB, in the Chinese Frequency Regulation Market

Author:

Huang Xian1,Li Zhehan1ORCID

Affiliation:

1. School of Control and Computer Engineering, North China Electric Power University, Beijing 102206, China

Abstract

In the face of the new reform of China’s “unified electricity market”, the frequency regulation ancillary service market in each region of China is still divided between using the MCP and PAB pricing mechanisms. The purpose of this paper is to explore the different impact the laws of the above two pricing mechanisms have on the frequency regulation market and to provide relevant suggestions for this electricity market reform. This paper simulates the competitive activities of the frequency regulation market based on the multi-agent simulation model, conducts a comparative experiment by changing the pricing mechanism to a single variable based on the rules of the Sichuan frequency regulation market in China, and concludes that MCP can make the market fast and stable, and that its market settlement price is low, which is suitable for the “unified electricity market”. Although PAB makes the market settlement price high, it can ensure the retention of high-performance units in the market, and the stable settlement price makes this model able to accurately reflect the “price signal”, making it suitable for late adoption in the “unified electricity market”.

Funder

the National Key R & D Plan Foundation of China

Publisher

MDPI AG

Subject

Energy (miscellaneous),Energy Engineering and Power Technology,Renewable Energy, Sustainability and the Environment,Electrical and Electronic Engineering,Control and Optimization,Engineering (miscellaneous),Building and Construction

Reference41 articles.

1. National Development and Reform Commission of China and National Energy Administration of China (2023, February 12). Guidance on Accelerating the Construction of a Unified National Electricity Market System, (In Chinese).

2. National Energy Administration of China (2023, February 12). China’s New Energy Installation Has Grown Significantly, Accelerating the Energy Transition, (In Chinese).

3. Federal Energy Regulatory Commission (2011). FERC Issues Order No. 755: Frequency Regulation Compensation in the Organized Wholesale Power Markets.

4. PJM (2022, November 20). Manual 11: Balancing Operations [EB/OL]. Available online: https://www.pjm.com/-/media/documents/manuals/m12-redline.ashx.

5. PJM (2020, June 20). ISO/RTO Regulation Market Comparison [EB/OL]. Available online: https://www.pjm.com/-/media/committees-groups/task-forces/rmistf/20160113/20160113-item-06-iso-rto-regulation-market-comparison.ashx.

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3