Price optimization of hybrid power supply chain dominated by power grid

doi:10.1108/IMDS-01-2018-0041

CORC > 上海财经大学 > 上海财经大学

	Price optimization of hybrid power supply chain dominated by power grid
	Xie, Jiaping 1; Zhang, Weisi 1; Wei, Lihong 1; Xia, Yu 1; Zhang, Shengyi 2
刊名	INDUSTRIAL MANAGEMENT & DATA SYSTEMS
	2019-03-11
卷号	119 期号:2 页码:412-450
关键词	Risk aversion Cost sharing Multiple suppliers Power grid dominant Supply and demand uncertainty
ISSN号	0263-5577
DOI	10.1108/IMDS-01-2018-0041
英文摘要	Purpose The purpose of this paper is to examine the impact of renewable energy on the power supply chain and to study whether the renewable generator or the power grid that purchases power from the power spot market is better when the actual generation of renewable energy is insufficient. The authors want to compare and analyze the different power supply chain operation modes and discuss the optimal mode selection for renewable energy generator and power grid in different situations. Design/methodology/approach This paper studies the grid-led price competition game in the power supply chain, in which the power grid as a leader decides the price of transmission and distribution, and generators determine the power grid price. The renewable energy power generator and the traditional energy power generator conduct a price competition game; on the other hand, the power grid and power generators conduct Stackelberg games. The authors analyze the power supply of single power generator and two power generators, respectively, and research on the situation that the renewable energy cannot be fully recharged when the actual power generation is insufficient. Findings The study finds that both renewable and traditional power grid prices decline as price sensitivity coefficient of demand and installed capacity of renewable energy generators increase. Power grid premium decreases as the price sensitivity coefficient of demand increases, but rises as the installed capacity of renewable energy generator increases. When there is a shortage of power, if the installed capacity of renewable energy is relatively small and price sensitivity coefficient of demand is relatively large, the grid purchases the power from power spot market and shares cost with renewable energy generators, leading to higher expected profits of the renewable energy generators. On the contrary, the renewable energy generators prefer to make up power shortage themselves. For the power grid, purchasing the power by the renewable energy generators when there is a power shortage can bring more utility to the power grid when the installed capacity of renewable energy is lower and the demand price sensitivity coefficient is higher. When the installed capacity of renewable energy is high and the price sensitivity coefficient of demand is moderate, or the installed capacity of renewable energy is moderate and the demand price sensitivity coefficient is high, a generator that simultaneously possesses two kinds of energy source will bring more utility to the power grid. If the installed capacity of renewable energy and the demand price sensitivity coefficient both are small or the installed capacity of renewable energy and the price sensitivity coefficient of demand both are large, the power grid prefers to purchase the power by itself when there is a power shortage. Practical implications - The goal of our paper analysis is to explore the implications of the theoretical model and address the series of research questions regarding the impact of the renewable energy on the power supply chain. The results of this study have key implications for reality. This paper sheds light on the power supply chain operation mode selection, which can potentially be used for the renewable energy generators to choose their operating mode and can also help traditional energy generators and power grid enterprises maximize their utility. This paper also has some references for the government to formulate the corresponding renewable energy development policy.
WOS研究方向	Computer Science ; Engineering
语种	英语
出版者	EMERALD GROUP PUBLISHING LTD
WOS记录号	WOS:000459297900011
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/314]
专题	上海财经大学
通讯作者	Zhang, Weisi
作者单位	1.Shanghai Univ Finance & Econ, Coll Business, Shanghai, Peoples R China; 2.Xinjiang Univ Finance & Econ, Sch Business Adm, Urumqi, Peoples R China
推荐引用方式 GB/T 7714	Xie, Jiaping,Zhang, Weisi,Wei, Lihong,et al. Price optimization of hybrid power supply chain dominated by power grid[J]. INDUSTRIAL MANAGEMENT & DATA SYSTEMS,2019,119(2):412-450.
APA	Xie, Jiaping,Zhang, Weisi,Wei, Lihong,Xia, Yu,&Zhang, Shengyi.(2019).Price optimization of hybrid power supply chain dominated by power grid.INDUSTRIAL MANAGEMENT & DATA SYSTEMS,119(2),412-450.
MLA	Xie, Jiaping,et al."Price optimization of hybrid power supply chain dominated by power grid".INDUSTRIAL MANAGEMENT & DATA SYSTEMS 119.2(2019):412-450.