Theory Basis And Policy Options Of The Straight Power Transactions Reform Between Power Users And Generation Enterprises In China

Power users and power generation enterprises direct transaction is an important part of the reform of the electricity market. We achieved certain results and accumulated certain experience from our country stated to implement direct trading pilot projects in some provinces and regions. But overall, the direct transaction is still in a exploratory stage, relevant theoretical researches, especially targeted, in-depth and systematic research is insufficient.Based on the comprehensive analysis of domestic and foreign scholars theory research results of the reform of the electricity market and direct transaction, and summarized the reform experience of direct transaction of main countries of the world, in this paper, I use game theory to analyze the mode of direct transaction that our country can adopt. I prove that under condition of generator's incomplete competition, the medium and long-term contract transaction mode can effectively restrict the market power of power generator and conducive to the formation of a more reasonable clearing price. Then this paper uses the theory of Rubenstein alternating offers model to research price negotiation problem before a long-term contract. A model is established and solved. The analysis of the results show that increase of real-time power market transparency can contribute to reach an agreement in price negotiations, and can improve the overall efficiency of electricity market.On the basis of the above, this paper takes Fujian province as the one of our empirical analysis of direct transaction. We summarized policy recommendations for China to put forward direct transaction, which concludes basic principles, overall framework and reform of a complete set.Study of direct transaction on power users and power generation enterprises in this paper is helpful to increase awareness of power direct transaction and provides a useful reference to the further implementation and widely use of direct transaction in China.