Optimal Clearing Model of Centralized Market Considering Path Constraints

China's electricity market is now still in the mode of "Unified market and two-tier operation" including provincial and inter-provincial market. The inter-provincial market is divided into the medium and long-term market and spot market. This study takes the inter provincial spot market as the research object, and proposes a unified optimization clearing algorithm for inter provincial spot market considering path constraints. The proposed method is able to handle AC-DC hybrid electricity network, and sort and determine the trading pairs using power flow tracing algorithm. The power market software PLEXOS and practical market data are used to simulate the proposed model, and the results show the accuracy and effectiveness.