Research On The Coordination Operation Mode Of The Electricity Market And Empirical Analysis

Since the reform and opening up,the Chinese government has made three major reforms in the elcctricity industry. But there are still many problems in the electricity market structure,pricing mechanism and market risks.So to research the framework and operation of the electricity market model,make reasonable design of the role and responsibilities of market players, form an effective pricing mechanism, reduce transaction risk, increase market efficiency, strengthen the supervision and incentives to ensure long-term security and stability of the electricity market operation become more important.Bsed on a comprehensive review of the electricity market theory,we researched the overall framework of the electricity market and the construction of the coordinate market system,built a coordinate completeness market which was both competitive and stability.We carried out a detailed research design and empirical analysis of the market structure and specific operation of the spot market, reserve capacity market and forward market. Established a two-settlement system monopoly equilibrium model taking into account transmission congestion,analysed the market operation and attention elements in design of the two-settlement system aking into account the constraints.Researched the spot electricity market structure and operating mechanism, established a settlement based on MCP settlement and PAB reserve market and the spot market, compared and analyzed the combined model simulation results, carried out under dynamic demand analysis of proposed actions of market players to control the market power of conspiracy related measures.Researched the forward contracts, spot market for short-term and long-term stability of the electricity market and the establishment of option pricing theory based on market pricing system, forward contracts, comparative analysis of the electricity futures and forward contracts similarities and differences of the power futures market liquidity of the market and spot market electricity futures market and the relationship between an empirical study.Based on design ideas of concentrated and dispersed electricity market, this paper designed a coordination electricity market system considering the feature of electricity market and efficiency, which consisted by forward market,spot market and reserve capacity market. Coordination electricity market solved the problem of spot market in which elec-tricity price signal was distorted and decreased the market risk by adopting double settlement system.Introduced a two-settlement electricity market model, which described the trend of blocking involved, demand uncertainty, contingencies and other factors and market forces. In this model, the introduction of sub-game perfect Nash equilibrium theory to solve the equilibrium under the conditions of equilibrium constraints problem, using the model of the power company can deal with the problem of mathematical programming with equilibrium constraints.This study has some reference on the initial formation of the future blueprint for the construction of China's electricity market, acceleration of China's electric electrisity market reform, the formation of fair and efficient electricity market.