Security‐constrained competitive mechanism research for therngeneration‐side electricity market based on economic mechanismrndesign theory

摘要

Traditional electricity market mechanisms cannot effectively control strategicrnbehaviors of power generation companies, resulting in reduced market efficiency.rnBased on the economic mechanism design theory, a decentralized decision‐makingrncompetitive mechanism applied in the generation‐side electricity market is developedrnto reduce the strategic behaviors of generation companies and align individualrninterests with overall interests. At first, market clearing patterns and characteristicsrnfor the generation‐side electricity market are analyzed. Then, a study is conductedrnon the ideal economic mechanism design to identify 3 main elements of the mechanism,rnnamely, information space, equilibrium information function, and resultrnfunction. Considering the physical constraints of the electricity system, includingrngenerator output constraint and the active power flow constraints for transmissionrnlines, the ideal economic mechanism is refined. Finally, the effectiveness and practicabilityrnof the economic mechanism are verified through simulation on IEEE‐14rnsystem.