Substitute Power Product Market Suitable for New Power System—Part Three System Design
In response to the urgent need to optimize the overall design of the electricity market under the background of energy transition,this paper proposes a system design of the substitute power product(SPP)market suitable for the new power system,grounded in the fundamental concept of electric energy value.First,the analysis shows that the construction goal of the SPP market system is precisely to adapt to renewable energy resources with low marginal generation costs but high system accommodation costs.Its short-term goal is to enhance system flexibility,and its long-term vision is to promote low marginal regulating costs.Then,based on a reconsideration of electric energy value connotations,this paper proposes the dual-value theory of electric energy,revealing both the production-use value and the power balance value of electric energy as a commodity.It emphasizes that market entities should be classified based on their provided value rather than resource types.Finally,the SPP market system is systematically designed across multiple dimensions including commodity attributes,temporal scales,and spatial scope.This SPP system consists of two main components of the electric energy market and the ancillary service market.The former can be further divided into substitute energy market and regulating energy markets,reflecting production-use value and power balance value of electric energy,respectively.On this basis,this paper also explores the multi-regional SPP market forms and the mode for retailers to participate in the wholesale SPP market.The proposed SPP market system is designed around continuous system energy balance,which is conducive to establishing fair,full-competitive,simple and transparent trading mechanisms.
electricity marketsubstitute power productnew power systemdual-value of electric energysubstitute energyregulating energyrenewable energy accommodation
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