Research on and simulation of competitive wholesale electricity market operation according to Vietnam regulations

Abstract

This paper studies the operation of Vietnam competitive wholesale electricity market in the future based on decisions, design approval of The Ministry of Industry and Trade (MOIT) and experiences of developed electricity markets such as PJM (US), Australia, Nord Spot (Northern Europe)...,thereby proposing a suitable model for the operation of electricity market in Vietnam. LMP (Location Marginal Price) is selected to study and simulate,using Matpower program based on Matlab and Excel program. The electricity market operation of a simple system consisting of 3 nodes has been simulated in this paper.Then, advantages and disadvantages of the model have been evaluated and analyzed from the result of simulation.The effect of congestion on the participants and FTR (Financial Transmission Right) have been considered as a solution to the risk of volatility of the market.