Research on the Development of Electricity Market Based on Performance Guarantee
China’s electricity market is currently in the development stage, and the related system is not comprehensive enough. Therefore, it is a key issue to standardize the trading behavior of the market entities and improve the operation efficiency of the electricity market. To solve this problem, this pa...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2022-05-01
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| Series: | Frontiers in Energy Research |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fenrg.2022.900901/full |
| _version_ | 1811335705407782912 |
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| author | Luosong Jin Qiang Liu Jing Yu Miao Wang Weihong Wu |
| author_facet | Luosong Jin Qiang Liu Jing Yu Miao Wang Weihong Wu |
| author_sort | Luosong Jin |
| collection | DOAJ |
| description | China’s electricity market is currently in the development stage, and the related system is not comprehensive enough. Therefore, it is a key issue to standardize the trading behavior of the market entities and improve the operation efficiency of the electricity market. To solve this problem, this paper takes advantage of Cournot duopoly model to find Nash equilibrium on the electricity supply side and constructs a bank performance guarantee model based on the profit function on the electricity sales side. This study also sorts out the function of performance guarantee, its mechanism for risk prevention, and the feasibility of promoting the performance guarantee mechanism and other supporting systems. Finally, the conclusion is drawn that the performance guarantee mechanism can effectively prevent the risks in the electricity market, and it can be promoted with other supporting systems. |
| first_indexed | 2024-04-13T17:28:12Z |
| format | Article |
| id | doaj.art-d888820c8a634043842f4c64903c36b2 |
| institution | Directory Open Access Journal |
| issn | 2296-598X |
| language | English |
| last_indexed | 2024-04-13T17:28:12Z |
| publishDate | 2022-05-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Energy Research |
| spelling | doaj.art-d888820c8a634043842f4c64903c36b22022-12-22T02:37:41ZengFrontiers Media S.A.Frontiers in Energy Research2296-598X2022-05-011010.3389/fenrg.2022.900901900901Research on the Development of Electricity Market Based on Performance GuaranteeLuosong Jin0Qiang Liu1Jing Yu2Miao Wang3Weihong Wu4Zhejiang Power Exchange Center Co., Ltd., Hangzhou, ChinaZhejiang Power Exchange Center Co., Ltd., Hangzhou, ChinaZhejiang Huayun Information Technology Co., Ltd., Hangzhou, ChinaZhejiang Huayun Information Technology Co., Ltd., Hangzhou, ChinaZhejiang Huayun Information Technology Co., Ltd., Hangzhou, ChinaChina’s electricity market is currently in the development stage, and the related system is not comprehensive enough. Therefore, it is a key issue to standardize the trading behavior of the market entities and improve the operation efficiency of the electricity market. To solve this problem, this paper takes advantage of Cournot duopoly model to find Nash equilibrium on the electricity supply side and constructs a bank performance guarantee model based on the profit function on the electricity sales side. This study also sorts out the function of performance guarantee, its mechanism for risk prevention, and the feasibility of promoting the performance guarantee mechanism and other supporting systems. Finally, the conclusion is drawn that the performance guarantee mechanism can effectively prevent the risks in the electricity market, and it can be promoted with other supporting systems.https://www.frontiersin.org/articles/10.3389/fenrg.2022.900901/fullelectricity marketperformance guaranteegame theorycournot duopoly modelprofit function |
| spellingShingle | Luosong Jin Qiang Liu Jing Yu Miao Wang Weihong Wu Research on the Development of Electricity Market Based on Performance Guarantee Frontiers in Energy Research electricity market performance guarantee game theory cournot duopoly model profit function |
| title | Research on the Development of Electricity Market Based on Performance Guarantee |
| title_full | Research on the Development of Electricity Market Based on Performance Guarantee |
| title_fullStr | Research on the Development of Electricity Market Based on Performance Guarantee |
| title_full_unstemmed | Research on the Development of Electricity Market Based on Performance Guarantee |
| title_short | Research on the Development of Electricity Market Based on Performance Guarantee |
| title_sort | research on the development of electricity market based on performance guarantee |
| topic | electricity market performance guarantee game theory cournot duopoly model profit function |
| url | https://www.frontiersin.org/articles/10.3389/fenrg.2022.900901/full |
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