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

Zhang Jian, Liu Miao, Zhang Kai, Wang Zongyuan, Feng Zhanwen and Dong Bo ()
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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

A chapter in Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024), 2024, pp 1123-1132 from Springer

Abstract: 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.

Keywords: reliability option; power generation capacity adequacy; auction clearing (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-459-4_125

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DOI: 10.2991/978-94-6463-459-4_125

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