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

CCPortal

DOI	10.1016/j.enpol.2022.112917
	Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province
	Liu, Yang; Jiang, Zhigao; Guo, Bowei
发表日期	2022
ISSN	0301-4215
EISSN	1873-6777
卷号	164 页码:16
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 expost 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.
英文关键词	China power market reform; Market distortion; Local market power; Electricity spot market
学科领域	Economics; Energy & Fuels; Environmental Sciences; Environmental Studies
语种	英语
WOS研究方向	Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
WOS记录号	WOS:000820524900006
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/272270
作者单位	Renmin University of China; University of Cambridge
推荐引用方式 GB/T 7714	Liu, Yang,Jiang, Zhigao,Guo, Bowei. Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province[J],2022,164:16.
APA	Liu, Yang,Jiang, Zhigao,&Guo, Bowei.(2022).Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province.ENERGY POLICY,164,16.
MLA	Liu, Yang,et al."Assessing China's provincial electricity spot market pilot operations: Lessons from Guangdong province".ENERGY POLICY 164(2022):16.