Abstract:
To address the consumption demand of high renewable energy and guide the consumers' behaviors through market prices, the bilateral spot market construction in Gansu province, starting in early 2021, has been put into operation since May. In this paper, based on the market operation data in May, the market operation status is deeply analyzed from the aspects of the market structure, behavior and trading and the market operation principles are concluded. First, the bilateral spot market architecture is studied, including the linkage between the mid- and long-term transaction and the spot transaction, the organizational mode of the spot market, the pricing and settlement mechanisms. Next, the market structure, the market behaviors, and the market transactions are deeply analyzed based on the actual operation data. Then, after the consumers are introduced to the market, the influences of the consumers' participation in the spot market on the consumers' costs and behaviors are compared. Finally, the lessons and the problems of the current market operation are concluded, and the improvement suggestions are proposed in order to provide valuable reference for the spot market construction in China.