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

Xuguang Yu, Gang Li, Chuntian Cheng, Yongjun Sun and Ran Chen
Additional contact information
Xuguang Yu: Institute of Hydropower and Hydroinformatics, Dalian University of Technology, Dalian 116024, China
Gang Li: Institute of Hydropower and Hydroinformatics, Dalian University of Technology, Dalian 116024, China
Chuntian Cheng: Institute of Hydropower and Hydroinformatics, Dalian University of Technology, Dalian 116024, China
Yongjun Sun: Kunming Power Exchange Center, Kunming 650011, China
Ran Chen: Kunming Power Exchange Center, Kunming 650011, China

Energies, 2019, vol. 12, issue 24, 1-18

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.

Keywords: electricity market; trading mechanism; clearing model; clearing algorithm; trading platform (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/1996-1073/12/24/4663/pdf (application/pdf)
https://www.mdpi.com/1996-1073/12/24/4663/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:12:y:2019:i:24:p:4663-:d:295573

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().