Abstract: With China’s electricity market reform gradually

entering the deep water area, electricity market design faces

many challenges, such as the difficulty in coordinating various

objectives, inconsistent reform objectives at different reform

stages, lack of integrity and systematisms in designing the market

rules. Firstly, this paper makes a systematic analysis of the

objectives of the electricity market reform, proposing the concept

of ultimate goals and path goals. Then, by taking the social

welfare distribution structure into consideration, a generalized

concept of market structure is proposed. After that, considering

China’s national conditions, this paper discusses how to make

the market and the government play a coordinated role through

market design. Finally, analysis is presented and solutions are

suggested to the issues of couplings between long-term and spot

markets, between provincial and inter-provincial markets, and

between planned and market mechanisms, which are currently

faced by power market construction in China. This paper

discusses some key problems in electricity market design from the

perspective of economics, so as to help the market designers better

understand various problems and find long-term and fundamental

solutions to the key issues of electricity market reform.

Keywords: electricity market reform; market mechanism

design; market objectives and routes; market structure

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1. 100022 2. 510640

Discussion on the Target and Structure of Electricity Market and the Key Issues in the

Construction of China’s Electricity Market

XIAO Qian1, YU Yun2, JING Zhaoxia2*

(1. CSG Beijing Branch, Chaoyang District, Beijing, 100022, China; 2. School of Electric Power, South China University of

Technology, Guangzhou 510640, Guangdong Province, China)

3 5

2020 9

Vol. 3 No. 5

Sep. 2020

2096-5125 (2020) 05-0508-10 F426.61 A

DOI 10.19705/j.cnki.issn2096-5125.2020.05.010

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E-mail zxjing@scut.edu.cn

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