Identification and Analysis for Price Multiplicity in Multi-Interval Real-Time Market

In the context of “Double Carbon” targets and building a new power system, the intertemporal coupling of the power system is increasingly important. Many independent system operators (ISOs) have already implemented or are planning to implement multi-interval real-time market (MIRTM). As a typical issue in LMP-based electricity markets, price multiplicity has been widely studied, but its characteristics and identification method in MIRTM remain to be explored. This paper explores the new characteristics and identification method of price multiplicity in MIRTM. Firstly, a mathematical model for the multi-interval economic dispatch is established, and several common multi-interval pricing mechanisms are introduced. Next, a mathematical model for price multiplicity in MIRTM is established, and an efficient and accurate identification method is developed based on this model. Finally, case studies are conducted to verify the effectiveness and high computational efficiency of the proposed method.