Enhanced Carbon-Accounted Auction-Based Dispatch and Spot Pricing Using Stochastic Optimizations

This paper proposes a novel carbon-accounted optimal power dispatch and spot pricing framework, explicitly integrating short-run carbon emission costs into electricity market pricing under single-sided and double-sided auction mechanisms. Unlike conventional models, the proposed approach directly embeds carbon costs into market dispatch and pricing. The framework is validated using IEEE 30-bus and IEEE 300-bus test systems, employing advanced stochastic optimization algorithms, including Particle Swarm Optimization (PSO), Black Widow Optimization (BWO), Grey Wolf Optimizer (GWO), and Whale Optimization Algorithm (WOA). Simulation results indicate that the carbon-accounted schemes significantly outperform conventional models. Specifically, for the IEEE 30-bus system under a single-sided auction (Case 2a), carbon emissions and total consumer costs are reduced by 15.87% and 8.11%, respectively, compared to conventional pricing (Case 1a). In the double-sided auction (Case 2b), reductions of 13.66% in carbon emissions, 8.54% in consumer costs, and a 9.41% improvement in social welfare are observed compared to the conventional model (Case 1b). PSO consistently demonstrates superior convergence, solution stability, and computational efficiency among the algorithms. The effectiveness and scalability of the proposed framework are further validated on the IEEE 300-bus system. Overall, this study provides an effective and practical approach to integrating carbon considerations into electricity markets, enhancing both economic efficiency and environmental sustainability.