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Based on the Reliability Option: A New Mechanism Design Method for Power Generation Capacity Adequacy

In: Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)

Author

Listed:
  • Zhang Jian

    (State Grid Liaoning Electric Power Co, State Grid Liaoning Electric Power Co)

  • Liu Miao

    (State Grid Liaoning Electric Power Co, State Grid Liaoning Electric Power Co)

  • Zhang Kai

    (State Grid Liaoning Electric Power Co, State Grid Liaoning Electric Power Co)

  • Wang Zongyuan

    (State Grid Liaoning Electric Power Co, Economic and Technical Research Institute)

  • Feng Zhanwen

    (State Grid Liaoning Electric Power Co, State Grid Liaoning Electric Power Co)

  • Dong Bo

    (State Grid Liaoning Electric Power Co, State Grid Liaoning Electric Power Co)

Abstract

With the deepening of power market reform, the issue of power generation capacity adequacy has become increasingly prominent. To address this issue, this paper proposes a new mechanism design method for power generation capacity adequacy based on reliability options. Through steps such as parameter determination, entity bidding, auction clearing, contract signing, and price difference settlement, this method aims to optimize the allocation of the power market. Additionally, this paper discusses the constraints in the auction clearing process of reliability options and verifies the effectiveness of this method through case analysis.

Suggested Citation

  • Zhang Jian & Liu Miao & Zhang Kai & Wang Zongyuan & Feng Zhanwen & Dong Bo, 2024. "Based on the Reliability Option: A New Mechanism Design Method for Power Generation Capacity Adequacy," Advances in Economics, Business and Management Research, in: Radulescu Magdalena & Bootheina Majoul & Satya Narayan Singh & Abdul Rauf (ed.), Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024), pages 1123-1132, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-459-4_125
    DOI: 10.2991/978-94-6463-459-4_125
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