Cost-Benefit Analysis of Multiple Entities Under the Coupling of Electricity and Carbon Trading Market Considering Demand Response

doi:10.12204/j.issn.1000-7229.2023.02.005

Abstract

Abstract:

Cost-benefit research helps to understand the benefits and willingness to trade of various market players, so as to guide the market to formulate a more reasonable trading mechanism. This paper proposes a cost-benefit analysis method for multiple market players considering the coupling of electricity and carbon trading markets under demand response (DR). First, the unit carbon emission cost in carbon trading is included in the quotation function of each generating unit for unified clearing, which reflects the coupling of carbon trading and spot market operations. Secondly, the transactions of various entities in the electricity-carbon coupling market under demand response are considered. A cost-benefit analysis model for the generation side, the user side, the load aggregator, the energy storage operator and the grid side is proposed. Finally, an example analysis is carried out on an actual operation day of a certain provincial power grid in China. The results show that the operation of the carbon emission trading market will raise the clearing price of the electricity market and affect the cost and benefit of the relevant entities.

Key words: spot market, carbon trading market, demand response (DR), cost-benefit analysis

CLC Number:

TM73

JIN Bingjie, LI Jiaxing, PENG Hongqiao, LUO Shuxin, LU Zhilin, LENG Yuan, DONG Ping, LIANG Ziyang. Cost-Benefit Analysis of Multiple Entities Under the Coupling of Electricity and Carbon Trading Market Considering Demand Response[J]. ELECTRIC POWER CONSTRUCTION, 2023, 44(2): 50-60.

Figures/Tables 25

Fig.1 Framework of Guangdong electricity market

Fig.2 Framework of electricity market clearing

Table 1 Carbon emission baseline of various units

Fig.3 Overall analysis framework

Fig.4 Framework of generating-side cost and benefit analysis

Fig.5 Framework of user-side cost and benefit analysis

Fig.6 Cost and benefit analysis framework for load aggregators

Fig.7 Cost and benefit analysis framework for energy storage operators

Fig.8 Framework of grid-side cost and benefit analysis

Fig.9 Schematic diagram of load and demand response scenarios

Fig.10 Curves of day-ahead and real-time electricity market clearing prices

Table 2 Simulation parameters

Fig.11 Generation-side results for each time period

Fig.12 User-side results for each time period

Fig.13 Results of load aggregators for each time period

Fig.14 Results of energy storage operators for each time period

Fig.15 Grid-side results for each time period

Table 3 Total benefit of each market entity on operation day

Fig.16 Comparison of clear electricity prices

Table 4 Comparison of the clearing results of the two modes

Fig.17 The change of the total benefit of each entity in the two operating days

Fig.18 The influence of user demand-response ratio on the benefit of each entity

Fig.19 The influence of user demand-response ratio on total social benefit

Fig.20 The influence of total demand-response ratio on the benefit of each entity

Fig.21 The influence of total demand-response ratio on total social benefit

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