Credit Factors Based Joint Clearing of Spot and Peaking Market Under Different Load Scenarios

Efficient electricity market mechanism is an indispensable element in the development of a new electricity system. But the past spot market does not take into account the engagement of multiple market participants in peaking, credit factors and different load demand. This paper establishes a joint clearing model for spot and peak-shaving market that considers the participation of multiple entities in peak-shaving. It introduces system load constraints and other generator constraints, taking into account market efficiency based on credit and the benefits of various market entities. Finally, in the case simulation, different load demands, such as large-scale industrial, commercial, and residential user loads. It analyses and demonstrates the usefulness and excellence of the methodology in this paper.