Two-part compound bidding mode for wind power considering low-carbon benefit

The application of wind power promotes the low-carbon progress in power industry, and its healthy development depends on a fair and efficient market mechanism fitting for wind power characteristics. Considering the low-carbon benefits and especially wind power participation in market bidding, a two-part compound bidding mode with the superiorities of both hourly and block bidding modes is proposed in this paper. This mode can properly evaluate the real power production cost and take the price advantage of varying wind power output by dividing one-part pricing parameter into two-parts, and its mathematical model and market clearing process are given too. The effects are analyzed including the power purchase costs, the social benefits, the load flattening, the supply-demand interaction and the capability of wind power absorption. The analyzed example indicates that the adoption of the two-part compound bidding mode can enhance market competitiveness of wind power, improve the system capability of wind power absorption, and relieve the pressure of wind power subsidies on the government as well.