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Article: Pricing when market optimization has multiple dual solutions

TitlePricing when market optimization has multiple dual solutions
Authors
KeywordsClearing price
Demand-side bidding
Electricity market
Optimization
Issue Date2006
Citation
Dianli Xitong Zidonghua/Automation Of Electric Power Systems, 2006, v. 30 n. 12, p. 27-32 How to Cite?
AbstractA clearing price is directly obtained from the dual solution of market optimization in standard pricing. However, multiple dual solutions may exist in such a market optimization. Multiple clearing prices may thus occur. In this case, choosing a unique clearing price becomes a problem. On the other hand, market operation requires a proper clearing price. This paper first elucidates this problem in mathematical expression, then narrows down the interval of reasonable clearing price. Based on a social welfare analysis, a new method is proposed to set a clearing price. An example is described for testing the suggested pricing method. Discussion and conclusion are also provided. Results demonstrate that this method has sound basis and fast computation traits.
Persistent Identifierhttp://hdl.handle.net/10722/155335
ISSN
2015 SCImago Journal Rankings: 0.772
References

 

DC FieldValueLanguage
dc.contributor.authorFeng, Den_HK
dc.contributor.authorGan, Den_HK
dc.contributor.authorZhong, Jen_HK
dc.contributor.authorNi, Yen_HK
dc.date.accessioned2012-08-08T08:32:57Z-
dc.date.available2012-08-08T08:32:57Z-
dc.date.issued2006en_HK
dc.identifier.citationDianli Xitong Zidonghua/Automation Of Electric Power Systems, 2006, v. 30 n. 12, p. 27-32en_HK
dc.identifier.issn1000-1026en_HK
dc.identifier.urihttp://hdl.handle.net/10722/155335-
dc.description.abstractA clearing price is directly obtained from the dual solution of market optimization in standard pricing. However, multiple dual solutions may exist in such a market optimization. Multiple clearing prices may thus occur. In this case, choosing a unique clearing price becomes a problem. On the other hand, market operation requires a proper clearing price. This paper first elucidates this problem in mathematical expression, then narrows down the interval of reasonable clearing price. Based on a social welfare analysis, a new method is proposed to set a clearing price. An example is described for testing the suggested pricing method. Discussion and conclusion are also provided. Results demonstrate that this method has sound basis and fast computation traits.en_HK
dc.languageengen_US
dc.relation.ispartofDianli Xitong Zidonghua/Automation of Electric Power Systemsen_HK
dc.subjectClearing priceen_HK
dc.subjectDemand-side biddingen_HK
dc.subjectElectricity marketen_HK
dc.subjectOptimizationen_HK
dc.titlePricing when market optimization has multiple dual solutionsen_HK
dc.typeArticleen_HK
dc.identifier.emailZhong, J: jinzhong@hkucc.hku.hken_HK
dc.identifier.emailNi, Y: yxni@eee.hku.hken_HK
dc.identifier.authorityZhong, J=rp00212en_HK
dc.identifier.authorityNi, Y=rp00161en_HK
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-33747078987en_HK
dc.identifier.hkuros119123-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33747078987&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume30en_HK
dc.identifier.issue12en_HK
dc.identifier.spage27en_HK
dc.identifier.epage32en_HK
dc.publisher.placeChinaen_HK
dc.identifier.scopusauthoridFeng, D=7401981343en_HK
dc.identifier.scopusauthoridGan, D=7005499404en_HK
dc.identifier.scopusauthoridZhong, J=13905948700en_HK
dc.identifier.scopusauthoridNi, Y=7402910021en_HK

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