8th International Conference on Advanced Power System Automation and Protection (APAP2019)

1017 / 2019-05-15 09:33:19

Multi-objective matching method of bilateral transactions in medium and long-term power markets

Bilateral matching, med- and long-term electricity market, bilateral transactions, entropy rights, portfolio evaluation.

In medium-term and long-term power markets, the traditional bilateral transaction is mainly a negotiation between the two parties. With the construction of the medium and long-term power markets, the more market participants, the more difficult it will be for market participants to choose suitable trading partners. In this paper, a multi-objective matching model is established for market players by considering several factors such as the transaction price, the transaction quantity and the penetration of renewable energy. The model is based on the multi-objective analysis and solved by dynamic programming. Example results show that the method can match supply and demand sides of medium and long-term power markets very well, and verify the effectiveness of our proposed model.