In the context of China’s electricity market reform
the effective integration of mid-to-long-term and spot markets is studied in depth. Firstly
the composition of the electricity market system is outlined
and the main points of convergence between mid-to-long-term and spot markets in terms of trading
scheduling and settlement are analyzed. On this basis
a series of integration mechanisms are proposed
including the mid-to-long-term curve decomposition mechanism
the physical security guarantee mechanism and the price linkage mechanism. The effectiveness of the proposed mechanisms in actual operation is verified through the analysis of arithmetic examples. Finally
a coordination scheme between mid-to-long-term and spot markets is proposed
aiming at promoting the complementarity of the two markets and realizing the smooth operation and sustainable development of the electricity market.