Decomposition and analysis of marginal prices in multi-energy systems

Shiyuan Bao, Zhifang Yang and Juan Yu

Energy, 2021, vol. 221, issue C

Abstract: With the integration of different energy forms, a proper pricing method of the multi-energy systems is urgently required. Nowadays, the marginal pricing method has been widely applied in energy systems for its precise economic characteristics. However, the current pricing method in multi-energy systems hardly considers the transferring delay, which causes the temporal effects of prices. Besides, there still lacks a theoretical analysis of price correlations among different energy systems. In this paper, we present a general pricing method of multi-energy systems. The components of the multi-energy prices are decomposed in two ways: the decomposition for time t and for the whole time. Also, the temporal correlation of the prices is examined. The correlated relationship among the prices of different energy forms is theoretically studied via analyzing the coupling mechanisms of different facilities. In particular, the pricing problem of the electricity-gas systems is taken as an example, which is investigated in detail.

Keywords: Multi-energy systems; Co-dispatch; Marginal pricing method; Temporal effects; Price correlations (search for similar items in EconPapers)
Date: 2021
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:221:y:2021:i:c:s0360544221000633

DOI: 10.1016/j.energy.2021.119814

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