Research On Capacity Adequacy Based On System Dynamic

Resource adequacy is crucial to ensure the reliability of power supply.With the development of intermittent renewable energy,resource adequacy has once again attracted wide attention in terms of power market design.There are three typical market designs to achieve capacity adequacy: Scarcity pricing mechanism,price adder mechanism and capacity market.According to the experience of electricity market reform in the world,most regions have consensus on the importance of capacity adequacy.However,the price mechanisms and relevant supporting mechanisms are different in capacity mechanisms.The characteristics of an individual market,including the social environment,the reliability target,as well as the market structure,should be fully considered when choosing the most appropriate method.This article studies the relationship between market environment and the capacity mechanisms through three parts,and proposes the adaptive conditions of different capacity mechanisms.Resource adequacy is crucial to ensure the reliability of power supply.With the development of intermittent renewable energy,resource adequacy has once again attracted wide attention in terms of power market design.This paper compares the different methods used for ensuring resource adequacy in Australia,Texas and PJM,including the trading timeline and pricing mechanism,as well as the supporting mechanisms of information disclosure,market power control and risk hedging.The characteristics of an individual market should be fully considered when choosing the most appropriate method.The paper proposes to analyze the adaptability of the various methods based on a set of indicators,namely the accuracy of prediction,the ability of cost monitoring,information requirements and customer characteristics,and also the supporting mechanisms.Finally,considering the current environment of power market reform in China,suggestions are advised regarding the policies in power market construction.(1)We raise the challenge of capacity adequacy,and then compare the different methods used for ensuring resource adequacy in Australia,Texas and PJM.the adaptability of the various methods are proposed.(3)A long-term system dynamic simulation model of electricity market is built to analyze the influence of market environment on scarcity pricing mechanism,capacity market and price adder mechanism.The internal relationship between the market design parameters of the capacity rules,the information transparency and the risk aversion of an investor is modeled in investor expecting function and centralized expecting function.(4)An example is given to verify the effectiveness of the simulation system model.The influences of the parameters setting and the information transparency on load loss time and social welfare are quantitatively analyzed under three capacity mechanisms.Based on the simulation results,a capacity mechanism decision method considering the characteristics of market environment is presented.At last,the applicable conditions of three capacity mechanisms are put forward.