气候变化领域集成服务门户(CCPortal): Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province

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DOI	10.1016/j.enpol.2022.112917
	Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province
	Liu Y.; Jiang Z.; Guo B.
发表日期	2022
ISSN	0301-4215
卷号	164
英文摘要	Aiming at improving the efficiency of power generation, China announced its plan to reform the electricity wholesale market. A focal point of the wholesale market reform is to introduce a stable and reliable electricity spot market. Using Guangdong's spot market pilot operations as a case study, this article is the first to use rich ex-post market data to assess the efficacy of China's electricity spot market. To investigate the stability of the spot market, we estimate the relationship between prices and demand. We find the electricity supply curve is much steeper when demand approaches the capacity limit, suggesting the need to invest more thermal capacity to stabilize spot market prices (SMPs). To investigate the reliability of the spot market, we first estimate the market distortion caused by a price floor on SMPs, and we then examine whether local market power exists. The price floor on SMPs resulted in a welfare transfer from consumers to producers, the monetary value of which equals to 1.3% of the tradable value of the day-ahead market. We also find evidence of local market power in the east of Guangdong, suggesting the need to invest in more power lines connecting the west to the east. © 2022 Elsevier Ltd
英文关键词	China power market reform; Electricity spot market; Local market power; Market distortion
语种	英语
scopus关键词	Costs; Floors; Investments; China power market reform; Electricity spot market; Local market power; Local markets; Market distortion; Market Power; Market price; Pilot operations; Power market reform; Spot market; Power markets; assessment method; electricity industry; energy market; local economy; reform process; reliability analysis; China; Guangdong
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256254
作者单位	School of Applied Economics, Renmin University of China, China; Zhineng Consultant Company, Beijing, China; Energy Policy Research Group, University of Cambridge, UK, United Kingdom
推荐引用方式 GB/T 7714	Liu Y.,Jiang Z.,Guo B.. Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province[J],2022,164.
APA	Liu Y.,Jiang Z.,&Guo B..(2022).Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province.Energy Policy,164.
MLA	Liu Y.,et al."Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province".Energy Policy 164(2022).