Research Of Risk Management On Safty And Economy In Power Market Of China

Our country has already realized the separation between the generator and the grid, and is gradually introducing the competitive system to establish a healthy power market. As to the situation of our country, it is an urgent problem to select a proper power market mechanism and the operation pattern, and to adopt a suitable supervising and managing pattern and the corresponding policy laws and regulations, in order to effectively enhance the efficiency of power industry, to optimize the disposition of power resources, and to effectively guard and control the security risk and the economical risk during the network operation.The paper analyzes the characteristics of the power industry and the operation mechanism of the power market. According to the the market supply and demand theory in micro-economics and the analysis of the effectiveness and long-term balance of the power market, the paper analyses the economic risks of the power market,and discusses the connection between the market failures and price control. Acorrding to the analysis of the security and reliability factors of the power system, the paper discusses the connection between the reliability of the power system and the reserve capacity, and establishes the corresponding model of reliability, and then takes out the empirical analyses, which are the academic basis of how to prevent economic risks of the market.Several kinds of coordination mechanism between the security risk and the economical risk under the power market condition are introduced: the supervising mechanism of the market, the power futures market, the capacity market, the demand-side management and the restrictive mechanism of the electricity price.Taked the build of our country's power market into consideration, the characteristics of the above mechanisms are discussed, and the framework of how to coordinate secure and economic risks,which is based on the spot market,is given.And it contributes to the build of the risk mechanism of the power market in China.In accordance with the problem of pricing, two methods to realize the optimal reliability are discussed: Value-of-Lost-Load Pricing, and OpRes pricing.After the moudel builded and the empirical analyses, the paper points that they both result in an optimal average investment in generating capacity through the optimal price signals, but because of the difference in the foothold, operation mechanism and methods of payment, the effect is different. According to the comparative analysis of the encouragememnt in investment, risks, market force and future trades, the OpRes pricing is compatible in China.Because of price one of the cores to monitor and the market builded after the the separation between the generator and the grid, the moudel of incentive regulatory of the price cap is discussed, foused on the regulatory of the natural monopoly electricity transmission price,and the regulatory model of the transmission and distribution pricing is established.According to China's regional power market building, the secure and economic risks in the interconnectional power markets are discussed.the paper points that when two different methods are taken, the market taking the method of the Value-of-Lost-Load Pricing will get more reserve capacity than the market taking the methold of the OpRes pricing.So it is proposed that it take the unified pricing method to prevent the risks caused by the different pricing method.And the model is established,and MCP and contract compacity is given when the interconnectional power markets take the unified pricing method.and then through the thorough study of the model to maximize social benefits,the relative MCP is given ,which provides a decision-making reference to the regulators in the price regulatory in the interconnectional power markets.Finally, the research results are summarized and the proposals to how to solve security and economic risks in our country's power markrt are given.