英文标题：
《Electricity Market Theory Based on Continuous Time Commodity Model》
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作者：
Haoyong Chen, Lijia Han
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最新提交年份：
2017
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英文摘要：
  The recent research report of U.S. Department of Energy prompts us to re-examine the pricing theories applied in electricity market design. The theory of spot pricing is the basis of electricity market design in many countries, but it has two major drawbacks: one is that it is still based on the traditional hourly scheduling/dispatch model, ignores the crucial time continuity in electric power production and consumption and does not treat the inter-temporal constraints seriously; the second is that it assumes that the electricity products are homogeneous in the same dispatch period and cannot distinguish the base, intermediate and peak power with obviously different technical and economic characteristics. To overcome the shortcomings, this paper presents a continuous time commodity model of electricity, including spot pricing model and load duration model. The market optimization models under the two pricing mechanisms are established with the Riemann and Lebesgue integrals respectively and the functional optimization problem are solved by the Euler-Lagrange equation to obtain the market equilibria. The feasibility of pricing according to load duration is proved by strict mathematical derivation. Simulation results show that load duration pricing can correctly identify and value different attributes of generators, reduce the total electricity purchasing cost, and distribute profits among the power plants more equitably. The theory and methods proposed in this paper will provide new ideas and theoretical foundation for the development of electric power markets.
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中文摘要：
美国能源部最近的研究报告促使我们重新审视电力市场设计中应用的定价理论。现货定价理论是许多国家电力市场设计的基础，但它有两个主要缺点：一是仍然基于传统的小时调度模型，忽视了电力生产和消费的关键时间连续性，没有认真对待跨时间约束；二是假定同一调度周期内的电力产品是同质的，不能区分具有明显不同技术和经济特征的基准功率、中间功率和峰值功率。为了克服这些缺点，本文提出了一种连续时间的电力商品模型，包括现货定价模型和负荷持续时间模型。利用Riemann积分和Lebesgue积分分别建立了两种定价机制下的市场优化模型，利用Euler-Lagrange方程求解函数优化问题，得到市场均衡。通过严格的数学推导，证明了按负荷持续时间定价的可行性。仿真结果表明，负荷持续期定价能够正确识别和评估发电机的不同属性，降低总购电成本，并在发电厂之间更公平地分配利润。本文提出的理论和方法将为电力市场的发展提供新的思路和理论基础。
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分类信息：

一级分类：Economics        经济学
二级分类：Econometrics        计量经济学
分类描述：Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论，微观计量经济学，宏观计量经济学，通过新方法发现的经济关系的实证内容，统计推论应用于经济数据的方法论方面。
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一级分类：Quantitative Finance        数量金融学
二级分类：General Finance        一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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