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The problem of heat and electricity pricing in combined heat and powersystems regarding the time scales of electricity and heat, as well as thermalenergy quality, is studied. Based on the asynchronous coordinated dispatch ofthe combined heat and power system, an energy-grade double pricing mechanism isproposed. Under the pricing mechanism, the resulting merchandise surplus of theheat system operator at each heat dispatch interval can be decomposed intointerpretable parts and its revenue adequacy can be guaranteed for all heatdispatch intervals. And the electric power system operator's resultingmerchandise surplus is composed of non-negative components at each electricitydispatch interval, also ensuring its revenue adequacy. In addition, the effectsof different time scales and cogeneration are analyzed in different kinds ofcombined heat and power units' pricing.

Energy-grade double pricing mechanism for a combined heat and power system using the asynchronous dispatch method