Research on key problems of power market design to adapt to the construction of new power system in China

Abstract:
At present, China has been accelerating the implementation of the carbon neutralization goal and the construction of a new power system. New energy will gradually become the main body of installed capacity and electricity. Coal power will bear more functions of system regulation and balance. The power grid structure and operation mode will be more complex and diversified. The development of power system and market construction are facing new challenges and major changes. It is important to address the innovation of market design to ensure the low-carbon energy transformation and safe and reliable power supply. A market mechanism is needed which is suitable for the technical and economic characteristics of new energy. The construction of capacity and auxiliary service market should be accelerated, as well as the full utilization of new flexible resources such as demand side response.