Analysis on the operation mechanism of spot mode adapting to the initial stage of China’s electricity spot market

Abstract In the new round of power system reform, the construction of power market is the top priority. It is particularly important to design a reasonable power market construction path for the smooth transition from planned mode to market mode and finally achieve the target market mode. This paper makes a comparative analysis of the decentralized market and the centralized market, and further analyses its applicability and the necessity of medium and long-term contracts according to its characteristics. It proposes to coordinate the generation resources, grid structure and load resources within the jurisdiction of the power grid, and implement the decentralized power market mode for the parts that have the ability to achieve self-balance, that is, the physical execution of medium and long-term contracts; For some units with large deviation and without physical execution or for some period of time, the centralized power market mode is implemented. The specific mode division adopts the principle of adjusting measures to local conditions, and strives to realize the smooth transition of market construction.