Proceedings of the 2024 International Conference on Applied Economics, Management Science and Social Development (AEMSS 2024)

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Decision optimisation study of two-stage hybrid electricity market under renewable energy quota policy

Authors
Qingsong Mao1, *
1Logistics Research Center, Shanghai Maritime University, Shanghai, 201306, China
*Corresponding author. Email: 15055219572@163.com
Corresponding Author
Qingsong Mao
Available Online 27 May 2024.
DOI
10.2991/978-2-38476-257-6_16How to use a DOI?
Keywords
hybrid electricity; two-stage market; renewable energy quota policy
Abstract

Encouraging renewable electricity in market transactions is vital for its development and reducing reliance on traditional thermal electricity. Yet, the impact of uncertainty in renewable electricity production on markets, especially in a two-stage market setup, remains insufficiently explored. The renewable energy quota policy is a key driver for renewable energy development, but its specific effects on the electricity market, considering increased renewable electricity participation in trading, are not thoroughly examined. This study constructs a two-stage electricity market model using game theory, considering factors like supply and demand uncertainty, two-stage trading, and quota policy. Finally, this paper uses actual data from China’s electricity trading for data simulation. The findings indicate that promoting renewable electricity in market-based trading can lower electricity prices, hamper traditional thermal electricity generator profits, and boost renewable electricity generator profits. Additionally, a high renewable energy quota may elevate electricity prices, with the quota policy favoring renewable electricity generator and disadvantaging traditional thermal electricity generator.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2024 International Conference on Applied Economics, Management Science and Social Development (AEMSS 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
27 May 2024
ISBN
978-2-38476-257-6
ISSN
2352-5428
DOI
10.2991/978-2-38476-257-6_16How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Qingsong Mao
PY  - 2024
DA  - 2024/05/27
TI  - Decision optimisation study of two-stage hybrid electricity market under renewable energy quota policy
BT  - Proceedings of the 2024 International Conference on Applied Economics, Management Science and Social Development (AEMSS 2024)
PB  - Atlantis Press
SP  - 121
EP  - 127
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-2-38476-257-6_16
DO  - 10.2991/978-2-38476-257-6_16
ID  - Mao2024
ER  -