Time-Sharing Trading Price Formation Mechanism and Model of China’s Mid to Long-Term Electricity Market

doi:10.11930/j.issn.1004-9649.202208082

Abstract

Abstract: The time-sharing trading of mid to long-term electricity market is one of the important reform measures for China's electricity market. Aiming at the unreasonable and imperfect problem of current time-sharing trading price formation mechanism, a novel time-sharing trading price formation mechanism and model is proposed for China’s mid to long-term electricity market. Firstly, the paper analyzes the factors that influence China’s mid to long-term time-sharing trading prices, and puts forward four typical scenarios of mid to long-term power transaction. Then, considering the production cost and users’ utility, the paper proposes four cost pricing mechanisms suitable for mid to long-term market time sharing trading, including system average cost pricing, user value of lost load pricing, system marginal cost pricing and power generation company value of lost load pricing, and a time-sharing trading pricing model is proposed based on cost pricing mechanism. Finally, the validity of the model is verified through a case study of the actual data of H province.

Key words: medium to long-term electricity market, time-sharing trading, price formation mechanism, average cost, marginal cost, value of lost load

HUANG Shanshan, YE Ze, LUO Mai, CHEN Lei, WEI Wen, YAO Jun. Time-Sharing Trading Price Formation Mechanism and Model of China’s Mid to Long-Term Electricity Market[J]. Electric Power, 2023, 56(1): 17-27.

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URL: https://www.electricpower.com.cn/EN/10.11930/j.issn.1004-9649.202208082

https://www.electricpower.com.cn/EN/Y2023/V56/I1/17

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