Research On The Theory And Practice Of Economic Value Of Electricity And Reserve Ancillary Service Market Trading

As a key industry, the electricity industry has great effect on the national economygrowth. The researches of the function and the value of power industry will provide a basisfor determining our electric power reserve and the development of electricity strategicplanning. In the new electricity market environment, it is the basis of researching how toensure power supply economicly and reliably. The paper provides an assessment of theeconomic value of the electricity in China and the related theoretical research on the reserveservices trading in the market way, and do case study combining with the national conditionsin China.It assesses the economic value of electricity from several perspectives to build themodels, and gives the basic framework on the analyses of the electricity economic value. TheGranger-Causality and the Error Correction Model techniques are applied to analyze therelationship between the electric power and the Chinese economy growth in the total quantity,in separate industries and departments, and in different regions. It sets up models based oninput-output model to assess the economic value of electricity and the cyclical fluctuationsand interactions conducted between the electricity and the economy during 1965-2002 areresearched based on spectral analysis methods. It also explores models to assess the economicvalue of electricity based on user's electricity demand elasticity.This paper studies the factors affecting the reserve demand and establishes the reservedemand models from the planning and operational perspective.This paper also researches and classifies about the reserve supplier and the cost ofreserve supply, sets up an electricity market simulation model based on Monte Carlo methods,develops the reserve cost analysis software system and does the case study of Jinjingtang gridto evaluate its reserve service supply costs. At the same time, the paper puts forwardreserve-pricing models on the basis of the economics and reliability theory.This paper also conducts electricity reserve services market international comparative,proposes three periods establishments of the reserve services market in China and the reservecost-sharing model under the condition of supplying electricity to the large users directly.