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Strategic Study of CAE >> 2023, Volume 25, Issue 2 doi: 10.15302/J-SSCAE-2023.02.011

Construction and Research Progress of Electricity Market for High-Proportion Renewable Energy Consumption

1. School of Electric Power Engineering, South China University of Technology, Guangzhou 510641, China;

2. Electric Power Research Institute, State Grid Ningxia Electric Power Co., Ltd., Yinchuan 750002, China

Funding project:Chinese Academy of Engineering project “Strategic Suggestions for the High-quality Development of Ningxia New Energy Comprehensive Demonstration Zone by Eastern Industrial Technology” (2022NXZD3) Received: 2022-12-27 Revised: 2023-02-10 Available online: 2023-03-30

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Abstract

A complete electricity market plays a decisive role in the allocation of electricity resources and is key to ensuring active supply-demand interactions between market players and promoting the consumption of renewable energies. Currently, a targeted,comprehensive analysis on factors that affect renewable energy consumption is urgently required. Focusing on trading mechanisms that can promote renewable energy consumption at a full time scale, this study summarizes the structures and mechanisms of typical electricity markets abroad and sorts out the key factors that can promote renewable energy consumption. Based on this, the study explores the current structures and mechanisms of China’s electricity market and examines the challenges faced during the electricitymarket construction. Moreover, the research progress of China’s electricity market for high-proportion renewable energy consumption is reviewed from the aspects of market mechanism, trading mode, and new consumption pattern. Furthermore, we propose that key measures should be taken in terms of multiple-market collaborative cooperation, linking of medium- and long-term spot trading,ancillary services market construction, and establishment of a demand-side response mechanism.

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