Electricity market

The market formed by power generation, transmission, distribution and power supply in the power industry

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Electricity market includes broad and narrow meanings. In a broad sense, electricity market refers to power industry The market formed by power generation, transmission, distribution and power supply, including Electricity spot market , power medium and long-term trading market Ancillary service market , capacity market and financial market 。 In a narrow sense, the electricity market refers to the spot market and the medium and long term electricity trading market. It refers to the power producers and users who negotiate and bid for electricity Related products Conduct transactions through market competition A mechanism for determining prices and quantities.

Chinese name: Electricity market
Foreign name: electricity market
Generalized: The market formed by power generation, transmission, distribution and transmission in the power industry

Narrow sense: Competitive spot power market and medium and long-term trading market
Current situation: The construction of the national unified power market has taken shape^[1]

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Introduction to Words

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The power industry in many countries is breaking monopoly, deregulation, introducing competition, and establishing power market Electric power system reform The purpose is to allocate resources more reasonably and improve resources Utilization To promote the power industry's Coordinated development 。 In China, with the rapid development of the electric power industry, the reform of the electric power system has gradually deepened“ Corporate restructuring Commercial operation and legal management are the basic orientation of the reform goal and will be gradually introduced into the power generation field competition mechanism , and gradually form the open power generation side management model , that is, the power generation companies compete to access the grid according to the electricity price market mechanism That is to say, the preliminary Electricity marketization 。

competitiveness The elements of the electricity market include market subject (electricity sellers and purchasers) Market object (Trading objects of the Buyer and the Seller, such as electric energy, transmission right, auxiliary services, etc.) Market carrier 、 market price 、 market rules Etc.

effect

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Electricity market is natural Monopolistic market , as the power grid belongs to infrastructure Resource waste , usually allowed transmission network Monopoly operation, give play to its natural monopoly Potential. However, due to the monopoly position of the power grid, the power grid company has enough Market power Upstream (power generation side) and downstream (power sale side) vertical integration And further expand its monopoly position. In China, before 1985, all power plants and power grids were central government Investment in construction, integration of power generation, transmission and distribution, and power sales in the electric power industry, and the state implements mandatory electricity prices. In order to establish a market supply and demand relationship resource scarcity And Negative externality To reduce government intervention in prices^[2] China needs to Electric power system reform 。 By introducing competition to the generation side and the sales side "Let go of both ends and control the middle"^[3] Electricity market.

The current electricity price in China cannot reflect the scarcity of resources, which makes it difficult to transmit the cost of power generation. 2021 international market Energy price Substantial increase, domestic power and coal supply and demand continue to be tight, and various factors have led to the recent emergence of Switch off and power limit , normal economical operation And residents' life. In order to ensure economic development and people's life, we need to reform and improve the mechanism for the formation of market-oriented coal and electricity prices.^[4]

Development status

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First issued in 2003《 Measures for the Supervision of the Electricity Market (for Trial Implementation) 》, Yes Supervision object And regulatory content Electricity Regulatory Authority (At that time Electricity Regulatory Commission ）Be responsible for the formulation and management of the operation rules of the power market, and supervise the regulatory objects.

In 2008, the trading electricity volume of China's national electricity market increased by 24% year on year Generation right transaction 85% year-on-year increase, realizing savings Standard coal More than 9 million tons. suffer Macroeconomic situation Impact, China 2008 Power demand The growth is slowing down significantly, total electricity consumption 3426.8 billion Kilowatt hour ， Year on year growth 5.2%, the growth rate dropped 9.6% year on year. In the same period, the trading power in the national electricity market continued to grow.

since State Grid It was learned that in 2008 China Power Grid Construction continued to accelerate, the scale of grid commencement and commissioning continued to grow rapidly, and the UHV AC test and demonstration project was successfully put into operation. In 2008, the trading electricity volume of the national electricity market continued to grow, and the accumulated trading electricity volume of the whole year increased by 24% year on year. Over the same period, the transaction of power generation rights increased by 85% over the same period last year, saving more than 9 million tons of standard coal.

On March 15, 2015, the National Development and Reform Commission issued Several Opinions on Further Deepening the Reform of the Electric Power System, and a new round of electric power reform was officially launched.^[5] Issued by the Energy Administration in December 2015《 Electricity market supervision Measures (Draft for Comments)^[6] , stipulating that the National Energy Administration and its local offices (hereinafter referred to as the Energy Regulatory Authority) shall perform the power market supervision and Administrative law enforcement Functions.

Transactions of National Power Trading Centers in 2020 (Unit: 100 million kWh)

In 2021, the national market trading electricity will be 3.7 trillion kWh, with a year-on-year growth of 17.2%, accounting for 44.6% of the total social electricity consumption, nearly 7 times the market trading electricity in 2015, with an average annual growth of about 40%. Medium and long-term transactions and Ancillary service market Basic coverage, the first batch of 8 spot pilots has entered the stage of settlement and trial operation, and the second batch of 6 spot pilots has also started construction. Based on the provincial power market, taking the trans provincial and trans regional market as a breakthrough, and taking the national unified power market as the direction, the construction of the power market has begun to take shape.^[1] The National Development and Reform Commission requires provinces and cities to introduce their own power market reform plans transmission-distribution price And set up provincial Electricity trading Center to promote the marketization of power trade in the province. In 2020, two and one national power trading centers have been established, respectively: Guangzhou Electric Power Trading Center and Beijing Electric Power Trading Center 。 A regional electric power trading center is the northern Hebei electric power trading center.

In February 2022, the National Development and Reform Commission and the National Energy Administration officially issued the Notice on Accelerating the Construction of National Unified Power Market system Guidelines for. As a programmatic policy document guiding the construction of the power market in the next ten years, the Guiding Opinions clearly defines the overall goal of the construction of a unified national power market system, from improving the market system to improving Market function , sound Transaction mechanism Strengthen planning supervision and adaptation New power system And other aspects pointed out the future development direction.

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