Research on market model for the generation side of the power market

Currently, the global restructuring of power system is in progress and the competitive power market mechanism is being established in many countries around the world. By drawing on some global restructuring experiences especially in China, an operable market model for the generation side of the power market called "Capacity Contract + Efficiency Replacement + Timely Market" is presented, which determines the Contract Power Price by the sum of the fixed cost and variable cost. Based on the analysis of the existing market model, the presented model closely reflects the current situation in Chinese power system restructuring and the developmental trend of the Chinese power market. It is proved reliable and feasible by system simulation and an application in a provincial power market. The model is propitious to realize a Resource Optimal Configuration, reduce the total generation costs and electrovalence, and promote the rapid development of industry and agriculture.