4.7 Article

A Penalty Scheme for Mitigating Uninstructed Deviation of Generation Outputs From Variable Renewables in a Distribution Market

Journal

IEEE TRANSACTIONS ON SMART GRID
Volume 11, Issue 5, Pages 4056-4069

Publisher

IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TSG.2020.2993049

Keywords

Power systems; Electricity supply industry; Pricing; Distribution networks; Real-time systems; Frequency control; Energy storage; Electricity distribution market; renewable generation; zero marginal cost; energy storage system (ESS); frequency regulation service~(FRS); penalty scheme

Funding

  1. University of New South Wales-Tsinghua University Collaborative Research Fund [RG193827/2018Z]
  2. Australian Research Council [IH180100020]
  3. National Natural Science Foundation of China [U1910216]
  4. Australian Research Council [IH180100020] Funding Source: Australian Research Council

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With rapid growth of distributed renewable generation, the establishment of electricity distribution markets has attracted widespread concerns. Different from existing transmission grid-scale electricity markets, an electricity distribution market is featured by numerous small-scale prosumers, and zero marginal cost and intermittency of renewable generation units. Against this background, this paper first extends an average pricing market (APM) mechanism for pricing renewable generation outputs with zero marginal cost in the distribution network concerned. Then, to mitigate the uninstructed volatility of renewable generation outputs and power demand, a penalty scheme is proposed for deviations between the real-time demand/output and market cleared bid/offer, with frequency regulation service (FRS) from energy storage systems (ESSs) considered. It is proved that the market volatility can be well controlled within an expected limit through properly setting the penalty prices for load demand and generation output fluctuations. Also, with this mechanism a non-negative market surplus could always be attained. Case studies are carried out to demonstrate the feasibility and efficiency of the proposed distribution market mechanism and penalty scheme.

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