The pilot project of spot market of electric power accelerated the process of becoming regular. On June 17, the Shandong Regulatory Office of the National Energy Administration, together with the Shandong Provincial Development and Reform Commission and the Shandong Provincial Energy Administration, smoothly realized the official operation of the spot market of Shandong electric power according to the national policy requirements and procedures.
Shandong is one of the first batch of power spot pilot construction units in China. Ma Qiang, head of the spot market department of Shandong Electric Power Control Center, introduced that since the pilot construction, Shandong has actively explored and innovated. On the basis of the early trial operation experience, Shandong has started the long-term settlement trial operation of the spot market of electric power since December 1, 2021. As of June 16, 2024, it has been running continuously for 929 days, and has experienced multiple scenarios such as high electricity coal prices, supply and demand fluctuations, extreme weather, etc.
In August 2017, the National Development and Reform Commission and the National Energy Administration jointly issued a document, selecting eight regions as the first batch of pilot projects, including South China (starting with Guangdong), Mengxi, Zhejiang, Shanxi, Shandong, Fujian, Sichuan and Gansu, to officially launch the pilot project for the construction of the spot power market. By the end of 2023, the spot power markets in Shanxi and Guangdong have become "regular".
With the implementation of carbon peak and carbon neutrality goals and the acceleration of building a new power system, the development pattern and market environment of energy and power in China have undergone profound changes. On the one hand, the double peak characteristics of electricity load in winter and summer are increasingly obvious. Influenced by the rising proportion of electric energy consumption, limited space for coal power development, and the new energy "large installed capacity and small electricity", the power supply and demand are gradually tightening. It is urgent to explore and establish a power supply guarantee mechanism to ensure safe and reliable power supply.
On the other hand, new energy will gradually become the main power source, and coal power will be transformed into basic security regulatory power supply. The traditional market mechanism based on electricity competition cannot accurately reflect the power energy value, capacity value, safety value and green value provided for the system by various business entities in the power market, which is not conducive to ensuring the safe and stable operation of the new power system, and it is also difficult to balance the interests of diversified business entities. It is necessary to accelerate the establishment of a market mechanism suitable for the new power system, Guide the whole society to bear the responsibility for new energy consumption, system capacity and cost adjustment fairly, and realize the organic unity of promoting energy transformation and economic efficiency.
Fan Pengfei, vice president of the Market Research Institute of the General Electric Power Planning and Design Institute, said that to solve the above problems, it is necessary to improve the top-level design from a higher level and accelerate the construction of a unified national power market system. The spot power market plays a significant role in optimizing the allocation of resources, improving the power security and supply capacity, and promoting the consumption of renewable energy, which is the top priority.
The reporter learned that in order to ensure the safe supply of energy and electricity, Shandong electric spot market has achieved the safe supply of electricity in the market environment by selecting appropriate market models, optimizing the thermoelectric decoupling clearing method, setting reasonable market price limits, establishing a capacity compensation mechanism, developing a time-sharing electricity price transmission mechanism and other practices.
In terms of market mode, Shandong electric power spot market chose the centralized market mode of spot full electricity clearing and price difference settlement for medium and long term transactions at the beginning of design. The security constrained unit combination and security constrained economic dispatching algorithm were used for power spot market clearing, taking into account the requirements of market transaction organization and power system security operation, and the time-sharing node price mechanism was adopted, Form price signals that reflect the time-space value of electric energy.
In terms of formulating the time-sharing price transmission mechanism, Shandong innovated and implemented the time-sharing price transmission mechanism of the spot market, guided by the time-sharing price signal of the spot market, optimized the constraint mechanism of the commercial time-sharing price and the time-sharing retail package, and simultaneously adjusted the floating proportion of the time-sharing price of power purchasing agents and the length of peak and valley hours and other parameters, Effectively realize the effective transmission of spot market time-sharing price signal to end users.
Under a series of combined measures, the power supply guarantee capacity has been significantly improved. Ma Qiang revealed that during the summer peak in 2023, the peak high price will stimulate the coal power generation unit to increase its power generation capacity by 2.7 million kilowatts, stimulate the full release of the peak discharge capacity of independent energy storage, and the time-sharing price mechanism will guide market-oriented users to shift the peak by 2 million kilowatts in the late peak, effectively ensuring the safe and reliable supply of electricity.
In response to the new energy consumption problem, Shandong Province has played a positive role in encouraging various entities to participate in the regulation of the power system and exploring new energy consumption space by introducing new energy storage and other diversified entities to participate in spot power transactions, setting reasonable price limits, developing time-sharing electricity price transmission mechanism, promoting the construction of power frequency modulation and climbing auxiliary service markets.
For example, the low price of spot market and the full transmission of time-sharing price signals have fully mobilized all kinds of resources to participate in new energy consumption. During the low ebb period when new energy is booming and power demand is declining, the low electricity price in the spot market encourages coal power units to adjust 3.71 million kilowatts in depth, and the time-sharing electricity price mechanism guides market-oriented users to fill 5 million kilowatts in the afternoon, effectively promoting the consumption of new energy, promoting the transformation of energy structure and green low-carbon development.
At the same time, Shandong also actively promotes centralized new energy enterprises to enter the market, and encourages centralized new energy enterprises to voluntarily choose full power to participate in medium - and long-term and spot transactions. New energy enterprises that do not choose to participate in power market transactions in full volume will participate in spot market settlement with 10% of actual power generation. By the end of 2023, 44 of Shandong's 564 centralized new energy stations have chosen to enter the market with full power and realize the value of new energy power generation through power market transactions.
At present, new energy storage, virtual power plants, load aggregators and other new business entities are developing rapidly. For this new trend, Shandong electric power spot market has continuously improved the participation mode of various business entities, established a market profit mechanism of independent energy storage "electric energy income+capacity compensation+lease income", defined the rules for the joint entry of new energy and energy distribution, construction, storage and storage, issued the technical conditions for the transfer of new energy distribution, storage and independent energy storage, and supported the pilot application of long-term energy storage. In addition, it has also innovatively constructed a mechanism for virtual power plants to participate in spot market transactions.
Data shows that at present, 28 independent energy storage power stations and 2 wind farms have participated in the spot market transactions in a normalized manner, effectively promoting the healthy development of the new energy storage industry.
At present, China's new energy has maintained a rapid development, but the overall progress of new energy entering the market is slow. A large number of new energy not entering the market has gradually pushed up the cost of market deviation, which is not conducive to the healthy operation of the market. "We should accelerate the pace of new energy entering the market." Fan Pengfei suggested that under the dual background of building a new power system and the national unified power market, we should further improve the spot market mechanism to adapt to the new main body, innovate and explore the capacity market and other mechanism construction, and continue to play the exemplary role of the pilot project of the construction of the spot power market. (Economic Daily reporter Wang Yichen)
