Research On Electricity Market Performance Based On Renewable Portfolio Standard System

The Renewable Portfolio Standard system(RPSs)is an inherent practical need for China’s energy structure transformation and power market reform.As the RPSs for the change of the national compulsory system,its effective promotion can not only ensure the realization of China’s renewable energy development goals,but also solve the problems of power generation,grid power and market consumption faced by the development of renewable energy power generation industry,and achieve renewable energy manufacturers share the cost of the industry,optimize the allocation of resources in the power market,and achieve sustainable and healthy development of the renewable energy industry.Based on the research status of the RPSs at home and abroad,this thesis studies the mechanism and effect of the RPSs on the performance of China’s electricity market.First of all,this thesis reveals the internal logical relationship between RPSs and green certificate trading system from the theoretical basis.Secondly,it uses system dynamics to analyze the mechanism of the influence of RPSs on electricity market performance.Then,it builds the partial equilibrium model of the impact of the RPSs on the performance of the electricity market.Finally,based on the empirical data of China,using MATLAB software programming to simulate the effect of the implementation of the green certificate trading system on the performance of the electricity market.The research results show that:firstly,tradable green certificate system,as a supporting measure of RPSs,can promote the development of renewable energy power generation industry through market-oriented means,and can optimize China’s energy structure.Tradable Green Certificate(TGC),as an electric power derivative,can be used as a measurement tool for renewable energy.Power producers can participate in the green certificate market to trade TGC,and then achieve the optimal allocation of resources by influencing the energy structure of the power market.Secondly,the behavior and decision of power producers are influenced by the green certificate market and the power market.The TGC market is influenced by both regulatory policy and market mechanism.Among them,the government regulates the TGC market by setting such institutional parameters as the TGC benchmark price,supporting price and penalty.In the TGC market,the price of TGC is the core of the whole market,which reveals the internal demand of various power producers.By influencing the supply and demand of TGC market,the equilibrium price and the equilibrium transaction quantity of TGC are affected,and finally the market elements of the power market are affected.After considering the multiple factors such as its own power generation cost,TGC transaction price and electricity price,the manufacturer will finally make the optimal decision in the two markets.Thirdly,this thesis discusses the impact of RPSs on electricity market performance.In the duopoly power market,with the increase of the quota,on the one hand,in the green certificate market,the green certificate price gradually rises to the price ceiling from the lower price and maintains for a long time.The number of green certificate balanced transactions peaked at a quota of 22.5096%and then gradually decreased.On the other hand,in the power market,the electricity pricing also drops from the initial stage to the lower electricity pricing,and finally rises to the higher electricity pricing.Accordingly,the total electricity supply in the electricity market increases slowly and then decreases gradually.The output and profit of traditional energy power generation manufacturers always show a decreasing trend,the output and profit of renewable energy power generation manufacturers show a trend of increasing first and then decreasing.RPSs encourages the development of renewable energy power generation industry,to some extent,suppresses the traditional energy power generation industry.Power manufacturers can improve their profits by technological progress and reducing the cost of power generation.The increase of quota effectively promotes the output of renewable energy power generation,improves the performance of renewable energy enterprises,and finally achieves the development goal of China’s renewable energy and realizes the low-carbon transformation of energy.