Research on key technologies of deduction of multinational power trading in the context of Global Energy Interconnection

When transnationalized electricity trade is conducted in the context of Global Energy Interconnection (GEI), the transaction settlement usually has a long cycle and high cost and is influenced by the volatility of the exchange rate. It is thus necessary to overcome the problems associated with the transaction settlement, change in the trading model data, and trading strategy in the transnational transaction deduction. To overcome the problem of trade settlement, this paper proposes the use of a digital currency (energy currency) for the cross-border electricity trading settlement based on the special drawing rights of the International Monetary Fund, which is controlled by the Global Energy Interconnection Development and Cooperation Organization (GEIDCO), to enable the proposed currency to become a stable digital currency. The traders can use the energy coins as a unit of currency for quotes, combined with the data pertaining to the changes in the energy information obtained from the GEI framework and data regarding the optimally extrapolated reference trading indicators. To realize the implementation of the multi-trader concurrent transaction deduction using a microservice architecture, this paper proposes a method of computing the microservice and synchronous interaction among the traders, based on the database table data, because the large amount of computation is required to be accomplished asynchronously with a single process. The key technology behind these cross-national electricity trading simulations can not only enable the GEI transnational traders to performed daily real-time trading, but it also demonstrates the advantages of the rapid settlement of the energy currency and the realization of a stable payment in the global energy interconnection cross-border electricity trading.     

Quantitative credibility evaluation of Global Energy Interconnection data

The development of Global Energy Interconnection (GEI) is essential for supporting a wide range of basic data resources. The Global Energy Interconnection Development and Cooperation Organization has established a comprehensive data center covering six major systems. However, methods for accurately describing and scientifically evaluating the credibility of the massive amount of GEI data remain underdeveloped. To address this lack of such methods, a GEI data credibility quantitative evaluation model is proposed here. An evaluation indicator system is established to evaluate data credibility from multiple perspectives and ensure the comprehensiveness and impartiality of evaluation results. The Cloud Model abandons the hard division of comments to ensure objectivity and accuracy in evaluation results. To evaluate the suitability of the proposed method, a case analysis is conducted, wherein the proposed method demonstrates sufficient validity and feasibility.     

Application research on large-scale battery energy storage system under Global Energy Interconnection framework

In the context of constructing Global Energy Interconnection (GEI), energy storage technology, as one of the important basic supporting technologies in power system, will play an important role in the energy configuration and optimization. Based on the most promising battery energy storage technology, this paper introduces the current status of the grid technology, the application of large-scale energy storage technology and the supporting role of battery energy storage for GEI. Based on several key technologies of large-scale battery energy storage system, preliminary analysis of the standard system construction of energy storage system is made, and the future prospect is put forward.     

Design and verification of a satellite-terrestrial integrated IP network model for the Global Energy Interconnection

In order to meet the pressing demand for wide-area communication required by the Global Energy Interconnection (GEI), accelerating the construction of satellite-terrestrial integrated networks that can achieve network extension and seamless global coverage has become the focus of power communication technology development. In this study, we propose a satellite-terrestrial integrated network model that can support interconnection and interoperation on the IP layer between the satellite system and the terrestrial segment of the existing power communication system. First, the composition and function of the satellite-terrestrial collaborative network are explained. Then, the IP-based protocol stack is described, and a typical application experiment is conducted to illustrate the particular process of this protocol stack. Finally, a use case of IP interconnection that depends on GEO satellite communication is detailed. The experimental study has showed that the satellite-terrestrial collaborative network can efficiently support various IP applications for the GEI.     

Research on big data applications in Global Energy Interconnection

Construction of Global Energy Interconnection (GEI) is regarded as an effective way to utilize clean energy and it has been a hot research topic in recent years. As one of the enabling technologies for GEI, big data is accompanied with the sharing, fusion and comprehensive application of energy related data all over the world. The paper analyzes the technology innovation direction of GEI and the advantages of big data technologies in supporting GEI development, and then gives some typical application scenarios to illustrate the application value of big data. Finally, the architecture for applying random matrix theory in GEI is presented.     

Mechanism of CO2 Emission Reduction by Global Energy Interconnection

The challenge of global warming has become a driving force for a global energy transition. The Global Energy Interconnection (GEI) is a modern energy system aimed at meeting the global power demand in a clean and green manner. With the development of clean replacement, electricity replacement, and grid interconnection strategies, GEI contributes to the global temperature control by dramatically reducing the level of energy-related CO₂ emissions. This study proposes an integrated framework for analyzing the mechanism of CO₂ emission reduction via GEI implementation. The obtained results demonstrate that the total cumulative contribution of GEI to mitigating the effects of CO₂ emissions (estimated by conducting a scenario analysis) corresponds to a total reduction of 3100 Gt CO₂. The contributions of the clean replacement, electricity replacement, and carbon capture and storage GEI components to this process are equal to 55, 42, 5%, respectively. Using GEI, the utilization of clean energy in 2050 will increase by a factor of 4.5 at an annual growth rate of 4.4%, and the electrification rate will be 2.4 times greater than the current one.     

Recyclable insulation material for HVDC cables in Global Energy Interconnection

With the development of modern power systems, especially that of the global energy internet, high-voltage, direct current (HVDC) cable power transmission will play an important role in the future. The key problem of HVDC cable power transmission is the need for novel cable insulation materials that have high performance, recyclability, and higher working temperature to replace traditional crosslinked polyethylene. This paper investigates the thermal and electrical properties of polypropylene (PP)/Al₂O₃ nanocomposites as a potential recyclable HVDC cable insulation material. The developed nanocomposites exhibit excellent thermal and electrical properties with the introduction of Al₂O₃ nanoparticles. Particularly, the space charge accumulation is greatly suppressed.     

From interconnections of local electric power systems to Global Energy Interconnection

The interconnections of electric power systems are developed for the economic benefits and in order to increase the overall power supply reliability and quality level. Development of power industry shows the positive effects in operation of the country-wide electric power systems and international interconnections. Creation of World Energy System or, by the other words, Global Energy Interconnection is objective trend on the way of expansion of international and intercontinental electric power interconnections. Several important aspects of above mentioned problems are discussed in this paper.     

Prospect and key techniques of Global Energy Interconnection Zhangjiakou Innovation Demonstration Zone

In the Background of implementing innovation-driven development strategy and building Global Energy Interconnection, the necessity of building Global Energy Interconnection Zhangjiakou Innovation Demonstration Zone for stimulating economic growth, promoting social development and supporting 2022 Winter Olympics are discussed by analyzing the location advantages of Zhangjiakou and the characteristics of renewable energy in Zhangjiakou. Solutions are put forward in aspects of renewable energy integration in National Wind/Solar/Storage/Transmission Pilot Project, VSC-HVDC transmission of renewable energy and demonstration utilization of renewable energy in the Olympics zone, which could be a reference for problems of large-scale renewable energy in secure integration, outgoing transmission and flexible consumption. And replicable experience for building Global Energy Interconnection will be provided by conducting ± 500kV VSC-HVDC Power Grid Demonstration Project, Virtual Synchronous Generator Demonstration Project, Flexible Substation and AC/DC Power Distribution Network Demonstration Project, EV Battery Secondary Utilization Energy Storage Demonstration Project, Smart Grid Demonstration Project of Low Carbon Winter Olympics and other demonstration projects.     

Technical and economic demands of HVDC submarine cable technology for Global Energy Interconnection

Power transmission across the sea is an important part of global energy interconnection (GEI). To support the construction of GEI and to serve the needs of future clean energy trans-sea transportation and offshore wind power development, this study a) analyzes the requirements of the GEI backbone network pertaining to direct current (DC) submarine cable technology, and b) defines the key technical and economic indices of ultrahigh-voltage direct current (UHVDC) submarine cable based on theoretical computations. The research is based on the thermoelectric coupling model and the finite element method. It is shown that the dielectric strength of the insulating materials of the ± 800 kV ~±1100 kV/ 4000 MW ~ 12000 MW UHVDC submarine cable (extrusion insulation) should be not less than 43 ~ 65 kV/mm, while the heat resistance is not less than 110 °C. As the cost of submarine cable is 5 ~ 10 times higher than that of the overhead line, the project investment need to be decreased to a level within the economical carrying capacity to guarantee extensive applicability of the HVDC submarine cable technology.     

Nash bargaining model for direct electricity trading on distribution side with multi-microgrids participation

随着售电侧电力市场改革的不断深入,研究多微电网参与下的配电侧直接电能交易具有重要意义。针对多微电网与负荷聚合商之间的直接电能交易,以各主体在传统交易方式下的最优效益作为谈判破裂点,提出了一种基于合作博弈论的纳什议价模型,模型中博弈参与者可获得帕累托最优效益。模型为非线性非凸问题,不易直接求解,将其分成求解支付和联盟效益最大化两个子问题。为保护交易主体内部隐私,联盟效益最大化问题采用交替方向乘子法进行分布式求解,交易双方在求解过程中仅需相互交换期望的交易电量。仿真结果表明该模型可以有效地提升交易双方的运营效益。     

Energy from sugarcane bagasse under electricity rationing in Brazil: a computable general equilibrium model

In the midst of the institutional reforms of the Brazilian electric sectors initiated in the 1990s, a serious electricity shortage crisis developed in 2001. As an alternative to blackout, the government instituted an emergency plan aimed at reducing electricity consumption. From June 2001 to February 2002, Brazilians were compelled to curtail electricity use by 20%. Since the late 1990s, but especially after the electricity crisis, energy policy in Brazil has been directed towards increasing thermoelectricity supply and promoting further gains in energy conservation. Two main issues are addressed here. Firstly, we estimate the economic impacts of constraining the supply of electric energy in Brazil. Secondly, we investigate the possible penetration of electricity generated from sugarcane bagasse. A computable general equilibrium (CGE) model is used. The traditional sector of electricity and the remainder of the economy are characterized by a stylized top-down representation as nested CES (constant elasticity of substitution) production functions. The electricity production from sugarcane bagasse is described through a bottom-up activity analysis, with a detailed representation of the required inputs based on engineering studies. The model constructed is used to study the effects of the electricity shortage in the preexisting sector through prices, production and income changes. It is shown that installing capacity to generate electricity surpluses by the sugarcane agroindustrial system could ease the economic impacts of an electric energy shortage crisis on the gross domestic product (GDP).     

The geopolitics of cross-border electricity grids: The Israeli-Arab case

Countries often attempt to establish regional electricity grids. However, whereas research on natural resources frequently seeks to understand policy outcome through a geopolitical prism, when it comes to electricity studies the prism is always economic or technical. Hence, this study is a first attempt to identify the geopolitical dimension of cross-border electricity grids. The study argues that success in establishing electricity grids requires identifying how the geopolitical dimension interplays with the physical dimension. To examine the role of these geopolitical bottlenecks, the study examines negotiation protocols, spanning over 15 years, on establishing ten grid connections between Israel and its Arab neighbors. It finds that electricity geopolitics has been used both as a platform for deeper international cooperation and as a stick against neighboring states. When policies are driven by a peace dividend, proposals for grid connection appear to evolve and overcome the dependency and the security-economy bottlenecks. When relations deteriorate, proposals for grid connections appear to undergo reconsideration and to be held hostage by higher politics. If, when and how electricity grids materialize is a function of the nature of the electricity network as a twofold package and of the ability of the planning process to accommodate geopolitical uncertainty.     

Speculative trading of electricity contracts in interconnected locations

We derive an investor's optimal trading strategy of electricity contracts traded in two locations joined by an interconnector. The investor employs a price model which includes the impact of her own trades. The investor's trades have a permanent impact on prices because her trading activity affects the demand of contracts in both locations. Additionally, the investor receives prices which are worse than the quoted prices as a result of the elasticity of liquidity provision of contracts. Furthermore, the investor is ambiguity averse, so she acknowledges that her model of prices may be misspecified and considers other models when devising her trading strategy. We show that as the investor's degree of ambiguity aversion increases, her trading activity decreases in both locations, and thus her inventory exposure also decreases. Finally, we show that there is a range of ambiguity aversion parameters where the Sharpe ratio of the trading strategy increases when ambiguity aversion increases.     

全球能源消费框架下的典型国家能源政策研究

能源战略问题一直是世界各国普遍关注的一个重要战略问题。本文首先分析了世界能源消费的地理结构、品种结构以及消费前景,在此基础上选取典型国家或地区(美国、欧盟和日本)对比分析了其能源政策。     

Multi-period emissions trading in the electricity sector—winners and losers

In the context of controlling greenhouse gas emissions, the directive on a Europe-wide trading scheme may be perceived as one of the most important milestones in recent years. Prior to its start, however, a number of very specific design features have to be agreed upon. Regarding the allocation of allowances, a distribution (almost) free of charge seems to be the most likely choice. An aspect that has interestingly attracted little attention in the past is the question of how to allocate emission rights over time. The following paper analyses different allocation options in multi-period emissions trading that are currently discussed in the European context. The options are applied for the electricity sector which is simulated over two periods. The paper distinguishes between a market effect of emissions trading and compliance costs for meeting the emission reduction obligation. The market effect results from a price increase which is due to the fact that opportunity costs for using allowances must be considered. It turns out that the electricity sector as a whole gains from the introduction of the instrument due to the increase of the electricity price. With regard to the different allocation options, it is found that utilities have different preferences depending on the fuel used.     

Congestion management rules and trading strategies in the Spanish electricity market

This paper analyses the economic incentives embodied in the rules governing the resolution of transmission constraints in the Spanish wholesale electricity market and the way these incentives may have influenced on the trading behaviour of both the generators and the demand side. The evidence obtained is consistent with them responding to these incentives. In particular, buyers would respond to the way congestion costs are billed to them by abandoning the daily market in favour of the intraday market as far as possible. Additionally, some strategic generators may have been prompted the system operator to require them to inject electricity into the system to solve network congestions. Finally, these results may contribute to shed light on what should be expected of the reform in the aforementioned rules.