Electricity pricing based on equivalent electricity value for supporting China's power market reform

Pao Yue-kong Library Electronic Theses Database

Electricity pricing based on equivalent electricity value for supporting China's power market reform

 

Author: Wu, Yang
Title: Electricity pricing based on equivalent electricity value for supporting China's power market reform
Degree: M.Sc.
Year: 2010
Subject: Electric utilities -- Rates -- China.
Electric industries -- China.
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Electrical Engineering
Pages: cxxvii, 118 leaves : ill. ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2463055
URI: http://theses.lib.polyu.edu.hk/handle/200/6458
Abstract: China has embarked on introducing competitive electricity market since 1985 after adopting her open door reform policy. Just like other countries who introduced competitive electricity market earlier, reform of electricity tariff structure is regarded as a complex problem because it spans across both technical and economic domains. Uniform clearing pricing and locational marginal pricing are the two typical methods adopted in typical electricity markets operation. In this project, a new method termed as equivalent electricity value method is envisaged and justified to be feasible for implementation in Mainland China. The study in this project starts by carrying out a review on China's electricity market reform over the past few decades. It is followed by identifying the critical problems experienced in Hong Kong, USA, UK, Australia and Mainland China and analyzing the effectiveness of the pilot experiments carried out in China. Detail discussion on the three different electricity market pricing methods, namely, Uniform Clearing Pricing (UCP), Locational Marginal Pricing (LMP) and Equivalent Electricity Value method (EEV) is provided in the thesis. The main objective of the project is to analyze the above three pricing methods so as to provide a comprehensive review on their definitions, operational principles, models and features. Innovation of the project includes development and justification of the EEV method which is envisaged to support China's electricity market reform. The contribution of the proposed approach can be seen from the project deliverable which serve ti extend the basic rationale of electricity pricing by taking into account of other essential factors such as economic efficiency, technical efficiency, cost coverage, and congestion avoidance. The analysis and implementation of the pricing methods are performed with respect to the electricity tariff structure which is derived based on the recent development principles worldwide and its various feasible modes of operation. Finally, it is concluded that the EEV method fits in better to meet China's electricity market tariff structure than those based on UCP and LMP.

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