Joint Clearing Method for Electricity Quantity andRamp Markets Incorporating New EnergyResponsibility Allocation and an OptionMechanism

Introduction: To address the uncertainty and volatility associated with high penetration of renewable energy sources in the grid, a joint clearing method for electricity energy and ramping markets is proposed. This approach internalizes the ramping responsibility of renewable energy, eliminates the “double benefit” issue for conventional units, effectively enhances the power system's ramping capability, and achieves coordinated optimization of heterogeneous flexible resources. Methods: First, a ramping option market incorporating physical delivery mechanisms is established. Second, design a responsibility allocation mechanism for renewable energy participation in ramping, combining ex-ante forecasting with ex-post settlement to effectively mitigate the impact of renewable energy fluctuations on system flexibility. Third, integrate diverse resources, including Fire Power (FP), Energy Storage (ES), Water Power (WP), Virtual Power Plants (VPPs), and Demand Response (DR) to establish an efficient joint decision-making model for electricity-ramping markets. Additionally, VPPs consolidate distributed electric vehicles, small-scale photovoltaic systems, and controllable demand-side loads to form auxiliary regulation capacity. Results: (1) The physical delivery mechanism of ramping options effectively enhances the flexibility of the power system. (2) The renewable energy responsibility allocation mechanism provides effective incentives for ramping participation. (3) Diversified resources synergistically form an efficient electricity and ramping support system. (4) Joint clearing yields significant economic benefits. Discussion: Although the combined new costs for ES, VPP, and options totaled 4 million CNY, traditional costs decreased by 7.22 million CNY, resulting in an overall cost reduction of 6.5%. Conclusion: Research findings indicate that this approach effectively enhances the system's ramping capability while preserving the economic efficiency of the electricity market. It mitigates forecasting errors in renewable energy generation and prevents double benefits for individual entities