Recently, the Southern (starting from Guangdong) spot power market has been operating for one year. Since the continuous settlement and operation, the medium and long term electricity has accumulated about 276.9 billion kilowatt hours, and the spot electricity has accumulated about 20 billion kilowatt hours, accounting for about 6.7% of the market traded electricity. The average spot price is about 0.59 yuan/kilowatt hour, 28% higher than the benchmark coal price, basically matching the power supply and demand and the cost of primary energy, which has really played the role of price discovery and released a refined time-space price signal of electricity, It has laid a solid foundation for the construction of the spot market of electric power in the southern region. Through electricity market trading, including spot transactions, Guangdong has accumulated 17.1 billion yuan in power generation costs over the past year, effectively stabilizing market expectations. The spot market deviation settlement mechanism has effectively constrained the generation behavior, and the capacity of unplanned output reduction of units in the province has remained at about 1.5%, which is at a low level in history, fully demonstrating the decisive role of the market in allocating resources, giving better play to the role of the government, and ensuring the power supply capacity. "Taking November to December 2021 as an example, under the condition that the primary energy price continues to operate at a high level, the average spot price will rise to 0.68 yuan/kWh, nearly 50% higher than the benchmark coal price, which will timely relieve the operating pressure on the power generation side and stimulate the enthusiasm of power generation enterprises." Wu Guobing, Deputy General Manager of Guangdong Electric Power Control Center of China Southern Power Grid, introduced. Luo Xilong, director of the marketing department of Huaneng South Branch, said that since the spot market was put into operation, they have obviously felt the "dynamic" of electricity prices. No matter when and where the previous electricity prices were, the on grid prices of most of the same type of units were the same price level. Under the spot mode, the differences in the value of electricity in different time and space were fully reflected, which also transmitted the costs of the power generation industry to a certain extent. For users, the most obvious feeling brought by the construction of the electricity market this year is that the price difference mode has changed into the favorable price mode. Wang Haohao, deputy manager of the Development Research Department of Guangdong Electric Power Trading Center, said that the spot market strongly promoted users to actively participate in market interaction, from "passive acceptance of fixed electricity prices" to "active regulation of electricity consumption", helping to cut peak and fill valley. "As a large power consumer in Guangdong, the electricity charge is the company's largest share of kinetic energy costs. In the future, the annual power consumption in Shenzhen, Huizhou and Guangzhou is expected to exceed 5 billion kilowatt hours. The emergence of the spot market provides more space for users to participate in the power market transactions, and can further reduce the cost of electricity through standardized operations." Said Xu Xiaodong, manager of TCL CSOT Technology Co., Ltd. In the first batch of spot pilot provinces in China, Guangdong Electric Power Spot Market Rules designed the first secondary price limit and the quotation ceiling mechanism linked with the primary energy price. The original fixed declaration price ceiling has been changed to the weekly calculation of the spot market declaration price ceiling based on the publicly released primary energy price dynamics, which more timely reflects the impact of fuel cost changes on power generation costs. Zhao Weijia, deputy manager of the Trade Organization Department of Guangdong Electric Power Trading Center, introduced that they had built the first electricity market day by day dynamic performance risk prevention and control system in China. Calculate and evaluate the losses of the power selling company every day based on the market price trend and the trading situation of the power selling company
Edit：Yi Bin Responsible editor：Li Bin Wei
Source：Economic Information Daily
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