Electricity Market Creation in China: Policy Options from Political Economics Perspective

Lei, Ni; Chen, Lanyun; Sun, Chuanwang; Tao, Yousheng

doi:10.3390/su10051481

Cited by 24 publications

(20 citation statements)

References 37 publications

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“…As mentioned above, the Greek interconnected power system has been examined. Details on its characteristics are provided in recent papers [13][14][15][16]. In Greece, the Public Power Corporation (PPC) has a dominant position with about 80% of the retail market at the end of the year 2018.…”

Section: Resultsmentioning

confidence: 99%

“…Market liberalization might include full-scale retail deregulation, restrictions on tariffs by dominant players, as well as unbundling of electricity generation from the transmission and distribution (T&D) sectors. Ofuji and Tatsumi [13] provided an overview of the status of the wholesale and retail electricity markets in Japan, also describing the Electricity System Reform policy, with the aim to provide insights on whether final consumers would benefit from this process. Market reforms also considered techno-economic characteristics of the power system.…”

Section: Introductionmentioning

confidence: 99%

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Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Dagoumas

2019

Applied Sciences

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This paper aims at tackling how the bilateral contracts affect wholesale electricity markets. It examines different levels of bilateral contracts among producers and demand aggregators, aiming to quantify their effect. In addition, it focuses on markets where bilateral contracts could be used as a tool by market participants with a dominant position. Further, the paper examined a case with asymmetrical portfolios, namely where a market participant has a dominant position as in case of Greece, aiming to investigate if bilateral contracts can be used as a tool to manipulate the market. The simulations have been done by an optimization model that provides the economic dispatch and clearing of the day-ahead electricity market. The model incorporated bilateral contracts with committed generating capacity from producers, as well as dynamic bidding strategy per market participant. Results provide useful insights on the design of electricity markets, especially in case of designing voluntary energy exchanges where a market participant has a dominant position.

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Section: Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Dagoumas

2019

Applied Sciences

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“…Thus, cogeneration in the country is characterized by a sufficiently low coefficient of wear and high efficiency. At the same time, the main fuel in the production of heat is energy coal (90%) (Wu et al, 2014;Lei et al, 2018). Similar to Russia, most of the district heating systems in the country are formed on the basis of a highcapacity CHP plant.…”

Section: Literature Reviewmentioning

confidence: 99%

Social and Economic Properties of the Energy Markets

Shindina¹,

Štreimikis²,

Sukhareva³

et al. 2018

Economics &Amp; Sociology

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Consumer properties of the thermal and electric energy which are the products at energy markets yield interconnections that have significant impact on the laws of energy consumption. When physical or price restrictions of the thermal energy supply are present at the power markets, the shortage of energy can be compensated by an increase in electricity consumption. At the same time, it appears that the interconnection of heat and electricity consumption largely determines the model of ower supply organization. Our paper analysed social and economic properties of the energy market. We show that in the case of separate production of heat and electric energy, these products yield the properties of substitutes for the consumers at the energy market. Our results show that heat and electric energy are interchangeable and the increase in the cost of one of them leads to its replacement by the other. At the same time, we find that for the countries with the welldeveloped combined production of heat and electric energy from the same energy source (the so-called cogeneration) which is typical for countries with a cold climate, the interrelationship between heat and electricity acquires a complementary nature, and the rise in prices for one commodity will not necessarily lead to a significant increase in demand for the other.

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“…Due to the market structure, market reform level, supervisory mechanism, and many other complex and changing factors, the existing trading mechanisms of direct electricity procurement struggle to cope with new challenges. Targeted trading mechanisms should be designed for countries in the process of market reform, such as China, which has a huge power industry [36,37]. Thus, this paper proposes a novel trading mechanism of direct electricity procurement, which includes two bidding stages, to provide a new choice for GenCos and LCs in the process of electricity market reform.…”

Section: Introductionmentioning

confidence: 99%

An Agent-Based Two-Stage Trading Model for Direct Electricity Procurement of Large Consumers

et al. 2019

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Many electricity markets around the world are still at developmental and transitional stages. To complete the transition and achieve the key objectives of perfect market design, designers often choose direct electricity procurement of large consumers (LCs) as a pilot. The trading mechanism is critical because it lays the foundation for the exploration of formulating a trading model and the succeeding solution; however, the existing trading mechanisms of direct electricity procurement struggle to cope with new challenges that electric power systems are facing. This paper proposes a novel two-stage trading mechanism, considering both the fairness and efficiency of direct electricity procurement. Based on the proposed trading mechanism, an agent-based trading model with multiple participants is developed. The simulation results of the transactions between LCs and generation companies (GenCos) illustrate the feasibility and effectiveness of the proposed mechanism. With this mechanism, LCs and GenCos will have more choices in the trading process and can benefit from the reduction of the average market price. The two-stage trading model provides a new choice for market designers and participants of direct electricity procurement.

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Electricity Market Creation in China: Policy Options from Political Economics Perspective

Cited by 24 publications

References 37 publications

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Social and Economic Properties of the Energy Markets

An Agent-Based Two-Stage Trading Model for Direct Electricity Procurement of Large Consumers

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