Equilibrium model of electricity market considering green certificate transaction under renewable portfolio standard

• Published in: 8th Renewable Power Generation Conference (RPG 2019) p. 275
• Main Authors: Li, Yachao, Zhao, Shengnan, Chen, Hao, Jin, Yi, Ding, Yu, Wang, Beibei
• Format: Conference Proceeding
• Language: English
• Published: Stevenage, UK IET 2019; The Institution of Engineering & Technology
• Subjects: Clean energy; Electricity; Energy resources; Game theory; Power system management, operation and economics; Power system planning and layout; Renewable energy; Renewable resources; Supply & demand; renewable portfolio standard; equilibrium model; renewable energy generators; power generation planning; renewable energy sources; electricity market; strategies; game theory; grid enterprises; evolutionary game model; subjects; power generation economics; green certificate transaction; tradable green certificate; supporting mechanism; TGC market; power markets
• ISBN: 9781839531255; 1839531258
• DOI: 10.1049/cp.2019.0530

Renewable portfolio standard (RPS) plays an important role in promoting the consumption of renewable energy and tradable green certificate (TGC) which is its supporting mechanism has a great influence on the electricity market. Firstly, this study clarifies the power and TGC supply and demand relationship among subjects like renewable energy generators and grid enterprises. On this basis, an evolutionary game model is established. Then the impact of key parameters' setting, such as quota ratio, penalty amount on subjects' strategies is analysed and the change of different types of grid enterprises' strategies' over time is studied by using this model. Finally, the trends of strategies' changes are simulated by case studies to examine the effectiveness of the proposed model, so as to provide references for entities to participate in the electricity market and the TGC market.