Abstract:
Electricity spot market fully plays the role of allocating electric power resources to realize sufficient competition and find optimal allocation of power resources, reflecting the authentic price signals of both demand and supply entities. However, characteristics of renewable energy output, such as randomness and uncertainty, pose great challenges to the operation of the mentioned market. Designing reasonable market mechanisms, which promotes renewable energy consumption, is the key demand of the new round electric power system reformation. This paper first summarized the state-of-the-art market mechanisms for renewable energy promotion in foreign mature power systems, followed by the introduction of Chinese spot market construction and mechanisms related to promote renewable energy consumption. By comparing the present situations at home and abroad, this study focused on several challenges of the future spot market construction in China. Referring to the experience of market development and renewable energy promotion provided by foreign countries, this paper aimed to promote the construction of Chinese electricity spot market based on the actual situation of domestic market. Further, results of this paper provide new ideas and insights for the spot market construction. In particular, it gives research directions for the subsequent study of electricity spot market with the purpose of renewable energy promotion.