Design of Provincial Bilateral Electricity Spot Market in China under High New Energy Penetration

As it is a severe challenge to accommodate the increasing new energy generation integrated to the power grid, electricity spot market can serve to address this issue by producing real-time time-of-use price signals and guiding consumers to adjust their electricity consumption behaviors. To resolve the dilemma of new energy consumption, this paper first designed a provincial bilateral electricity spot market, and put forward the trading mechanism considering both power plants and consumers. Then, a comparative analysis was conducted on the bilateral market clearing results and the unilateral market clearing results considering only power plants through case study. The results show that integrating consumers in the spot market can help to encourage them to consume new energy in an active manner. The bilateral electricity spot market proposed in this paper can provide a reference for improving the new energy consumption in regions with high new energy penetration.