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Research and Application of Continuous Bidirectional Trading Mechanism in Yunnan Electricity Market

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  • Xuguang Yu

    (Institute of Hydropower and Hydroinformatics, Dalian University of Technology, Dalian 116024, China
    Key Laboratory of Ocean Energy Utilization and Energy Conservation of Ministry of Education, Dalian 116024, China)

  • Gang Li

    (Institute of Hydropower and Hydroinformatics, Dalian University of Technology, Dalian 116024, China
    Key Laboratory of Ocean Energy Utilization and Energy Conservation of Ministry of Education, Dalian 116024, China)

  • Chuntian Cheng

    (Institute of Hydropower and Hydroinformatics, Dalian University of Technology, Dalian 116024, China
    Key Laboratory of Ocean Energy Utilization and Energy Conservation of Ministry of Education, Dalian 116024, China)

  • Yongjun Sun

    (Kunming Power Exchange Center, Kunming 650011, China)

  • Ran Chen

    (Kunming Power Exchange Center, Kunming 650011, China)

Abstract

To further promote market competition, enrich trading varieties, alleviate information asymmetry, and improve trading efficiency during electricity market reform in China, the continuous bidirectional transaction (CBT) was designed and applied in the Yunnan electricity market (YNEM), which is dominated by medium- and long-term power energy trading. The clearing model for the CBT with the goal of maximum social welfare is proposed in two bidding stages, including call auction (CA) and continuous double auction (CDA). Correspondingly, the integrated two-stage market clearing algorithm is also introduced to ensure the data consistency and business continuity. Finally, the analysis of the practical application shows that the proposed model, algorithm, and various key implementation strategies of the trading platform support the bidding and clearing of the CBT well. In addition, the research and application of CBT may also provide valuable insights for other electricity market construction.

Suggested Citation

  • Xuguang Yu & Gang Li & Chuntian Cheng & Yongjun Sun & Ran Chen, 2019. "Research and Application of Continuous Bidirectional Trading Mechanism in Yunnan Electricity Market," Energies, MDPI, vol. 12(24), pages 1-18, December.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:24:p:4663-:d:295573
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    References listed on IDEAS

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