The Path and Development Prospects for the Participation of Hydrogen-electricity Market Participants in the Electricity Market

With the introduction of hydrogen energy development strategies in countries worldwide, electric-hydrogen coupling has become a direction that has attracted much attention. As a flexible power system resource, electric-hydrogen entities can help realize the safe and economic operation of the new power system under the dual-carbon goal. China's electricity spot market is steadily advancing. It is committed to guiding the allocation of resources in the power system through tariff signals so that the electric-hydrogen entities can reduce their power purchase costs and gain additional benefits through participation in the electricity market, thus promoting the development of the electric-hydrogen industry. To this end, this article first reviews the relevant studies on the participation of electric-hydrogen entities in the power market from the perspectives of technical feasibility and business model; summarizes the participation methods of electric-hydrogen entities under the existing power market mechanism; puts forward the bidding model for electric-hydrogen loads to participate in the power market and the opportunity cost calculation model for the provision of frequency regulation services, and validate the examples. Based on this, and in conjunction with the current situation of China's power spot market, this article put forward several outstanding issues to be resolved to promote the participation of electric-hydrogen entities in the power market.