Most of the first eight pilot regions in China have entered the long-period continuous operation stage, and the second batch of six power spot pilots have started their simulation trial runs; however, the construction of power markets in the hydropower-rich regions of China (i.e., Sichuan and Yunnan) still faces multiple problems, including poor reliability of medium- and long-term power supplies, inefficient hydropower resource utilization and consumption scales, and unstable market prices. In this study, we establish a multi-scale joint clearing model for different market models (considering both long- and short-term operation strategies) and perform simulations of different market models at different time scales, to compare and analyze their optimization results and electricity price fluctuations. The model can stabilize the market price and reasonably reflect the true value of hydropower; it can also promote the consumption of clean energy and ensure the reliability of power supplies in the medium and long term. Finally, suggestions are made regarding the selection of electricity market models, the security of energy supplies, and the design of sustainable development mechanisms for hydropower in hydropower-rich regions, with a view to providing useful references for the development of China’s electricity market.

To fully exploit the potential and value of “source-load-storage” multi-type distributed resources to support blackouts at key nodes of the main network, we propose an optimization model for the optimal allocation of distributed resources. First, a black-start power configuration model with optimal operational economy and the strongest black-start capability is established as the optimization objectives. Subsequently, a simulation analysis is conducted with the IEEE33 node system and the regional grid of the Shanghai Fengxian combustion turbine plant as examples. The results indicate that the proposed model can realize the solution of the optimal black-start resource allocation scheme, which is applicable to black-start planning under multiple types of outage scenarios. Moreover, it provides a basis for using distributed resources to support the black start of key nodes in the main network.

The development of foreign electricity markets has been relatively complete, while China's electricity market started late and the design of the market mechanism needs to be improved, so the selection of a suitable market model and the design of the market mechanism in hydropower‐rich regions is conducive to the healthy development of the electricity market. While most of the first eight pilot regions in China have entered the long‐period continuous operation stage, and all the second batch of six power spot pilots have started the simulation trial run. However, the construction of power markets in hydropower‐rich regions of China, Sichuan, and Yunnan, still faces multiple problems to be solved, such as ensuring the reliability of medium‐ and long‐term power supply, improving the efficiency of hydropower resources utilization and consumption scale, and maintaining the stability of market prices. In this paper, the authors establish a multi‐scale joint clearing model for different market models considering both long‐term and short‐term operation strategies, and conduct simulations of different market models at different time scales to compare and analyze the optimization results and electricity price fluctuations of different market models. It can stabilize the market price and reasonably reflect the true value of hydropower, and also promote the consumption of clean energy and guarantee the reliability of power supply in the medium and long terms. Finally, suggestions are made for the selection of electricity market models, the security of energy supply and the design of sustainable development mechanisms for hydropower in hydropower‐rich regions such as Yunnan and Sichuan in China, with a view to providing useful references for the construction of China's electricity market.