Abstract
ZF [2015] No. 9 document issued by Chinese government indicates that the target market model in China in a new round of reform of the power system include and decentralized market models. How to achieve the target model in a top-level design is an important issue in the construction of electricity market in China. Firstly, the differences and the similarities of these two models are analyzed based on foreign mainstream market models from four aspects: market decision making methods, market pricing methods, unit portfolios and auxiliary service transactions. Secondly, current situation of reform of electricity market in China is introduced. Based on grid structure and power supply structure in China, benefits of market model in safe operation of grid, optimal allocation of resources and connection with existing dispatching system are analyzed; it is indicated that the proper Chinese electricity market model in the future is centralized spot market + medium-term and long-term difference contract model. The development of Chinese electricity spot market is forecast in three stages. Finally, the key technology demands in the construction of Chinese electricity market in the future are abstracted.
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