保障发电容量充裕度的可靠性期权机制综述及启示

Review and Enlightenment of Reliability Option Mechanism for Ensuring Power Generation Adequacy

发电容量充裕度是保障系统安全、实现资源长期优化配置的要求,已引起我国多个电力市场试点地区的重视。国际上已实施多种容量机制,但经验表明,容量机制可能导致市场扭曲、容量过剩等问题。可靠性期权是一种具有物理结算意义的金融产品,具有无扭曲、高可靠性等优点。首先分析其通用框架,包括结算原理、结算参数、需求曲线、运作流程等要素。然后,阐述爱尔兰、意大利市场的可靠性期权机制中拍卖机制、结算机制等具体细节。最后,对可靠性期权的机制特点、参数设计等方面进行讨论,结合当前中国电力市场改革现状,提出可行建议。

The abundance of power generation capacity is a requirement for ensuring system safety and realizing long-term optimal allocation of the resources,which has attracted the attention of many pilot areas of power markets in China.Various capacity mechanisms have been implemented internationally.However,foreign practice shows that the capacity mechanism may cause market distortions and capacity surplus.The reliability option(RO)is a financial product with physical settlement significance,which has the advantages of no distortion and high reliability.This paper analyzes its general framework including the settlement principle,parameters,demand curves and operating procedures.Then it elaborates on the specific details in the RO mechanism in the Irish and Italian markets such as the auction mechanism and settlement mechanism.Finally,the paper discusses the mechanism characteristics and parameter design,and proposes feasible suggestions combining with the current status of China's power market reform.