Thesis
Power system energy imbalance settlement in deregulated electricity market
- Creator
- Rights statement
- Awarding institution
- University of Strathclyde
- Date of award
- 2012
- Thesis identifier
- T13140
- Qualification Level
- Qualification Name
- Department, School or Faculty
- Abstract
- In regulated electricity market the difference between forecast demand and actual demand is balanced by additional generation from the cheapest available source after network security is taken into consideration. The electricity price to supply this difference in demand forecast error is already pre-fixed through the bulk supply tariff. In deregulated market many of the current market structures rely on bilateral contracts for trading. This means that the amount of electricity purchased is pre-determined with the price or pricing method specified in the contract. In the event that the forecast does not agree with the actual demand, the difference is taken from the balancing market. The price for this difference in energy is not known until after the event. The financial settlement for this imbalance energy is different from the normal contract settlement. In the ideal case the imbalance should be zero but this is almost impossible as the contracted values are usually based on demand forecasts and which contain errors. The imbalance settlement thus depends very much on the electricity prices of the real time balancing market, and also on the structure of the balancing market which could be different from one country to another and could even be different for different markets within the same country. This thesis begins by reviewing the 5 typical electricity markets (UK, US, Australian, New Zealand and Argentina) in the world on aspects of dispatching method, trading inside the Pool and trading outside the Pool. The existing arrangement, balance & imbalance settlement method of each electricity market will be presented. The IEEE 30-bus system will be taken as the illustrate example, detailed comparison of total revenue income and load total payment has been conducted among the different settlement systems of each electricity market. Although some of these methods are very reliable and have been used extensively, as the limitation of the fuel and development of the renewable source, the Distributed Generator (DG) access, they may not be economical given the probability of contingencies and changes in the market environment. As a new application, a Dual use of electricity storage method is proposed to solve the imbalance settlement problem. The Dual Use Distributed Generator (DUDG) could access the real time market for balancing the errors from the demand forecast, no matter the demand increases or reduces, with a reasonable price both for generation side and the distribution side.
- Resource Type
- Note
- Strathclyde theses - ask staff. Thesis no. : T13140
- DOI
- Date Created
- 2012
- Former identifier
- 946789
Relations
Items
| Thumbnail | Title | Date Uploaded | Visibility | Actions |
|---|---|---|---|---|
|
|
PDF of thesis T13140 | 2021-07-02 | Public | Download |