What is the appropriate pricing mechanism for China’s renewable energy in a new era?

Generation planning for power companies with hybrid production technologies under multiple renewable energy policies

“…𝑂𝐶 𝑡,𝑖 ⋅ 𝑥 𝑡,𝑖 + 𝑃 𝐶 𝑡 ⋅ 𝑧 𝑡 (10) Based on the above, the total value of the production plan can be calculated as follows:…”

“…With the wave of market-oriented reforms of energy systems around the world, the Chinese government is also actively pushing forward the reform of the electricity market, gradually loosening the control of electricity prices in coal-fired power plants and continuously strengthening the role of the market mechanism in the allocation of electricity resources. In 2020, China implemented the 'base price & fluctuation' pricing policy for coal-fired electricity, highlighting the general trend towards marketization processes for electricity in China [10]. As China's electricity market reforms progress, the electricity price market will become an important means of promoting the development of renewable energy technologies [11].…”