Search results for "Market mechanism"
showing 2 items of 2 documents
Electricity demand response schemes in China: Pilot study and future outlook
2021
Abstract Electricity demand response (DR) improves the overall energy management efficiency and allows for the integration of large-scale renewable energy into the power grid through interactive management and control of the supply and demand sides. However, in China and other emerging countries (e.g., Japan and Australia) with DR programs, the DR market mechanism is not well-established. This is particularly the situation in countries where the state power system is not freely open to participate in the DR market. Previous research has proven that considerable DR resources are largely existing in the demand side; however, the dearth of a market mechanism hinders the development of DR. Henc…
A Binary Particle Swarm Optimization Algorithm for a Double Auction Market
2007
In this paper, we shall show the design of a multi-unit double auction (MDA) market. It should be enough robust, flexible and sufficiently efficient in facilitating exchanges. In a MDA market, sellers and buyers submit respectively asks and bids. A trade is made if a buyers bid exceeds a sellers ask. A sellers ask may match several buyers bids and a buyers bid may satisfy several sellers asks. The trading rule of a market defines the organization, information exchange process, trading procedure and clearance rules of the market. The mechanism is announced before the opening of the market so that every agent knows how the market will operate in advance. These autonomous agents pursue their o…