A new clearing method for cascade hydropower spot market

Yanmei Zhu, Yerong Zhou, Xiangming Tao, Shijun Chen, Weibin Huang and Guangwen Ma

Energy, 2024, vol. 289, issue C

Abstract: The natural hydraulic connections between cascade hydropower may make hydraulic and electric connections mismatch after the market clears. Aiming at relieving the contradiction between water surplus and water shortage after market clearing, this paper proposes a new market clearing method considering the coupling relationship between water and electricity. And the method is verified by the simulation of a virtual spot market consisting of eight stations in Sichuan Province, China. The main contributions of this paper lay on three aspects: firstly, a new index called water-electricity coupling degree (WCD) and its calculation method are proposed to measure the overall situation of water shortage and water abandonment in the clearing results. Secondly, a multi-objective clearing model for cascade hydropower stations is established with the goal of minimizing power purchase cost and maximizing WCD. Thirdly, a solution method combined with the characteristics of the clearing model is developed. The case results demonstrate that the built model increases the WCD value by 1.57 % and reduces the insufficient output and surplus water by 45.18 % without increasing the power purchase cost of the power grid; The proposed solution strategy lowers the complexity of the model and improves the solution efficiency, where the search space reduction and time period merging strategies can reduce the calculation time by about 3 % and 8 % respectively. The new clearing method provides a new idea for solving the uncoupling problem of water-electricity-price in the cascade hydropower spot market.

Keywords: Cascade hydropower stations; Spot market; Market clearing; Water-electricity-price coupling degree (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:289:y:2024:i:c:s0360544223033315

DOI: 10.1016/j.energy.2023.129937

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