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Trading Method of Electricity Spot Market Under High Penetration Ratio of New Energy

In: Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023)

Author

Listed:
  • Xiaobo Ling

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

  • Shengqi Cai

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

  • Gongchang Zhou

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

  • Yangsheng Sun

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

  • Ming Chen

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

  • Erxi Wang

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

  • Qiyi Lu

    (Shanghai Municipal Electric Power Company, Dsipatching Center)

Abstract

In this paper, the spot trading of electric power with high penetration ratio of new energy is taken as the research object, and all parties involved in the spot trading of electric power are investigated to form an electric energy trading chain. The decentralized blockchain technology is adopted to establish a trading model of the spot market of electric power, store the trading information of all parties involved, solve the model by using the strategy learning method, and analyze the market electric energy trading volume and the benefits of all parties. The research results show that the spot market transactions of electricity include energy suppliers, energy sellers and buyers, energy reserves and load aggregators. The spot trading chain of electric energy is built by using the platform of Ethereum blockchain, and the spot market of electric energy is simulated by strategy learning method. It is concluded that the installed capacity and clearing capacity of wind power suppliers are the largest, the maintenance cost is lower, the market income is the highest, but the maintenance cost far exceeds that of all energy suppliers; Using the spot trading method of electric energy trading chain to improve the income of each trading subject, the quotation of market subjects is more flexible and more in line with the relationship between supply and demand, and the clearing price of the market is basically positively correlated with the relationship between supply and demand; The credit value of each power trading entity is quantified as the default coefficient. When the default coefficient of each trading entity is larger, its income will gradually decrease, and the default of energy suppliers has the greatest impact on its income.

Suggested Citation

  • Xiaobo Ling & Shengqi Cai & Gongchang Zhou & Yangsheng Sun & Ming Chen & Erxi Wang & Qiyi Lu, 2023. "Trading Method of Electricity Spot Market Under High Penetration Ratio of New Energy," Advances in Economics, Business and Management Research, in: Amalendu Bhunia & Rubi Binti Ahmad & Yifeng Zhu (ed.), Proceedings of the 2023 International Conference on Finance, Trade and Business Management (FTBM 2023), pages 246-253, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-298-9_27
    DOI: 10.2991/978-94-6463-298-9_27
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