Research

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Spot Markets Forward Contracts Resource Adequacy

Spot Markets

Briefs and Reports

A well-designed spot market can promote the integration of renewable energy, and achieve flexible and efficient allocation of energy resources, but its potential has yet to be fully developed. Despite the gradual development of spot markets across China, improvements are needed to their functioning and alignment with other mature markets such as forward contracts.

North China and Northeast China Interprovincial Electricity Trade Brief

Inter-provincial power trading mainly encompasses spot markets and medium-to-long-term (MLT) markets. MLT contracts serve to preallocate dispatch volumes, albeit at the potential cost of introducing system inflexibility. Conversely, spot markets offer real-time services, affording the system immediate responsiveness.

Forward Contracts

Briefs and Reports

The medium and long-term electricity market takes up the largest share of electricity transactions in China, offering significant potential for synergizing with evolving electricity spot trading to meet the ever-increasing electricity demand. Many unfolding implementation details of the market dictate if it will be suitable for the development of the new power system.

North China and Northeast China Interprovincial Electricity Trade Brief

Resource Adequacy

Briefs and Reports

Resource adequacy refers to the degree to which the power system has sufficient capacity to continuously meet consumers’ electricity demands. It is an essential component in ensuring the stability and reliability of the power system. Regularized evaluation and planning of resource adequacy contribute to the smooth operation of the electricity market, the resilience of the power system while achieving carbon neutrality, and rationalization of power resource investments while avoiding overcapacity.

Northeast China Grid Winter Resource Adequacy Report

This brief offers case study examples of two types of routine public reports that are common internationally in supporting a reliable new energy system, namely post-crisis analysis, and forward-looking seasonal resource adequacy outlook.