E3S Web Conf.
Volume 252, 20212021 International Conference on Power Grid System and Green Energy (PGSGE 2021)
|Number of page(s)||5|
|Section||Power Control Technology and Smart Grid Application|
|Published online||23 April 2021|
Generation Revenue Regulation and Incentive Contract Design in Electricity Market
South China University of Technology, School of Electric Power, Guangzhou, China
* Corresponding author: firstname.lastname@example.org
In order to curb market power, encourage investment and redistribute welfare, revenue regulation should be carried out in electricity market. The incentive contract represented by the Contract for Difference is a kind of regulation. This paper proposes a Government Authorized Contract based on Revenue Estimation Method (REM) from the perspective of regulating generation revenue. First, the principle and design of the Vesting Contract in Singapore electricity market is employed, analyzing its limitations in regulation. Then, the incentive contract based on REM is presented in four steps. Finally, the IEEE30 node classic system is adopted to demonstrate the proposed model, showing that it can promote generators to bid rationally.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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