Settlement Mechanism of CFDs Authorized by Government Under Environment of Electricity Spot Market

被引：0
|
作者：
Zhang L. [1 ]
Wang J. [1 ]
Chen C. [2 ]
Yang S. [2 ]
Wang Y. [1 ]
机构：
[1] School of Electrical & Electronic Engineering, North China Electric Power University, Changping District, Beijing
[2] Marketing Department, Fujian Power Exchange Center, Fuzhou
来源：
Wang, Jin (wangjin_ncepu@163.com) | 1600年 / Power System Technology Press卷 / 45期
关键词：
Contract for differences; Electricity spot market; Fairness; Hedging function; Settlement mechanism;
D O I：
10.13335/j.1000-3673.pst.2020.0764
中图分类号：
学科分类号：
摘要：
Since the pilot run of the power spot market, the settlement mechanism of government- authorized contracts for differences (CFDs) has a great impact on the economic interests and market behavior of the market entities. This paper analyzes the connotation of electricity quantity and prices in the power spot market, the mechanism of hedging spot market price risks, and the problems faced by the settlement process. Then we discuss the premise of hedging spot market price risks with CFDs. Based on two principles, i.e., "ensuring fairness" and "hedging risks", this paper puts forward a settlement mechanism of "differentiation + prior determination". Finally, this paper sorts out the current settlement mechanisms for CFDs authorized by the governments in the provinces of Guangdong, Fujian, and Zhejiang. Comparing and analyzing the settlement mechanism proposed in this paper with the current settlement mechanisms being used in the above provinces, the fairness and practicality of the proposed settlement mechanism is evaluated. © 2021, Power System Technology Press. All right reserved.
引用
收藏
页码：1337 / 1346
页数：9
相关论文
共 19 条
  • [1] Wang Yi, Ma Ziming, Tan Yuekai, Et al., Day-ahead power market design and market simulation in Guangdong Province, Power Demand Side Management, 20, 1, pp. 10-14, (2018)
  • [2] Zhu Feng, Market simulation of hedging trade mode in electricity market for reducing market operation risk, Proceedings of the CSEE, 27, 34, pp. 76-83, (2007)
  • [3] pp. 53-60, (2001)
  • [4] Dai Tiechao, Zhang Dan, Application of resoluting computation of decisive contract electric energy in Zhejiang generation power market, East China Electric Power, 28, 10, pp. 7-9, (2000)
  • [5] Wang Yanling, Zhang Lizi, Shu Juan, Et al., Economic distribution of contract trading volume and bidding trading volume in daily plan, Automation of Electric Power Systems, 26, 9, pp. 45-48, (2002)
  • [6] Li Canbing, Hu Yajie, Zhao Hongjun, Et al., General model and algorithms for decomposition of contract electricity, Automation of Electric Power Systems, 31, 11, pp. 26-30, (2007)
  • [7] Chen Jianhua, Yang Li, Zhang Ning, Et al., Decomposition of CFDs volume based on power generator's declaration, Automation of Electric Power Systems, 33, 3, pp. 30-34, (2009)
  • [8] Zhang Chen, Yan Wei, Research on impact of decomposition algorithms for CFDs on mitigating market power, Power System Technology, 43, 8, pp. 2718-2726, (2019)
  • [9] Miao Shumin, Luo Bin, Shen Jianjian, Et al., Short-term multi-objective hydro-thermal generation dispatch considering electricity market transition and mid-and long-term contract decomposition, Power System Technology, 43, 7, pp. 2221-2231, (2018)
  • [10] Yang Li, Wang Qiaolai, Hu Zhaoyang, Et al., Energy contract decomposition considering equity and satisfaction, Power System Protection and Control, 40, 19, pp. 30-35, (2012)
12