Market Operation Mechanism of New Power System

This document, authored by Associate Professor Zhang Shuo from North China Electric Power University, provides a comprehensive analysis of the market operation mechanism of the new power system. It begins with a detailed policy background, tracing key regulatory milestones from 2015 to 2025, including reforms in electricity trading, spot markets, renewable energy consumption, and carbon emissions. The second section outlines the construction system framework, emphasizing the four basic characteristics: safe and efficient, clean and low-carbon, flexible and agile, and intelligent and integrated. It highlights the role of coal power as a security ballast, the coordinated operation of energy storage, and the coexistence of large and distributed power sources. The document also covers the construction of a national unified electricity market, offering suggestions for market operation and simulation. Key themes include the integration of renewable energy, market-oriented reforms, and the development of ancillary services and green certificate trading. The summary underscores the transition towards a clean, low-carbon, and flexible power system, supported by robust policy frameworks and technological advancements.