Capacity Adequacy Performance Payment Strategy Considering Seasonal Fluctuations of Hydropower
DOI:
https://doi.org/10.13052/spee1048-5236.4537Keywords:
Seasonal capacity, capacity market, reserve capacity, kernel density estimation, performance paymentAbstract
The long-term stable adequacy of power generation capacity and flexible adjustable resources is one of the keys to the stable operation of the power market. The uncertainty of new energy and the periodicity of hydropower output pose greater challenges to the adequacy of power market capacity and adjustable resources. To address this challenge, probabilistic modeling of error probabilities in different periods is conducted through the kernel density estimation method with separate parameters. Dynamic reserve capacity demand is calculated under confidence probability, and capacity adequacy performance payment is introduced. Finally, the incentive effects of the new method are compared with those of the traditional capacity payment system and market auction in the market, leading to the conclusion that the new method helps flexible adjustable units better recover costs.
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