Hydropower Province: Yunnan power market outlook
in the process of this round of power system reform, Yunnan Province is a typical case, which is said to have set five "national firsts": the country's first power market with the highest degree of liberalization and the largest number of participants in market-oriented transactions; The first power market in China to build a trading platform and establish relatively perfect trading rules; The first in China to absorb surplus electricity through market-oriented trading mechanism; The first pilot of day ahead incremental trading in China, with a contract performance rate of more than 96%; The first transaction rule in China was recommended by the national development and Reform Commission to be learned and used for reference nationwide
today, Xiao Yelu will sort out and summarize some characteristics of Yunnan power marketization, hoping to help you understand Yunnan power reform
1 generally, the speed regulation range is narrow. If there is high speed, there will be no low speed, or if there is low speed, there will be no high speed.
1 Yunnan is a large province of hydropower, with clean energy accounting for 84%. Thermal power 31 steel welded joints are for long-term standby.
Yunnan's water resources rank third in the country, accounting for 1/7 of the total water resources in the country. By the end of June 2017, the installed power generation capacity of Yunnan Province was 85.14 million KW. Among them, the installed capacity of clean energy dominated by hydropower is 71.3 million KW, accounting for 83.7%; The installed capacity of thermal power is 13.85 million KW, accounting for 16.3%, and thermal power is in long-term standby state
installed power generation capacity in Yunnan Province (10000 kW)
2 Yunnan is an important base for the "west to East power transmission", and the external power transmission exceeds the provincial power sales
in 2016, the west to East power transmission of Yunnan Province to Guangdong and Guangxi was 110.05 billion kwh, and the provincial power sales were 109.66 billion kwh, and the west to East power transmission exceeded the provincial power sales for the first time. Yunnan Province has built a "three horizontal, two vertical and one center" 500 kV main frame, and built a long-distance, high-capacity power transmission channel between provinces. Through six DC circuits and one DC back-to-back project, it operates asynchronously with the power of the four southern provinces, and the capacity of the cloud power transmission channel has been increased to 26.15 million kW in 2017
3 Yunnan electric power marketization began in 2014, and the market model has gradually matured.
in 2014, Yunnan Province took the lead in launching direct transactions between electric power enterprises and large users in the country; In 2015, the scope of market-oriented transactions was expanded, with a transaction volume of 46billion kwh, which was listed as one of the first comprehensive pilot projects of power reform; In 2016, it tried day ahead trading for the first time in China, ensuring a high contract performance rate; In 2017, the trading rules were more perfect and the variety was more complete. Yunnan power market model has played a demonstration and leading role nationwide
4 Yunnan power market is characterized by "medium and long-term transactions, supplemented by day ahead transactions"
the transaction types of Yunnan power market are divided into three time categories: annual, monthly and day ahead. The annual is bilateral transactions, and the monthly is carried out in the order of bilateral - matching - listing, while there are day ahead incremental transactions every day on weekdays. In the first half of 2017, Yunnan's electricity market transactions totaled 32.237 billion kwh, of which the annual, monthly and day ahead transactions accounted for 33.94%, 60.51% and 5.55%. The market structure was further optimized, showing an obvious characteristic of "focusing on medium and long-term transactions, supplemented by day ahead transactions"
2017 Yunnan power market transaction sequence chart
5 the electricity price in Yunnan has decreased significantly after the marketization of power, and it is more obvious in the flood season
since the marketization of power transactions, Yunnan has reduced the cost for power consumption enterprises by more than 18billion yuan, and the average electricity price level of the province has decreased from the penultimate fifth place in the country before the transaction to the penultimate second place in the country in 2016. In the first half of 2017, the average transaction price at the power plant side was 0.214 yuan/kWh. After entering the flood season in June, the hydropower generation capacity increased significantly, and the price fell to 0.186 yuan/kWh (June October is the flood season)
in 2016 and the first half of 2017, Yunnan power market transactions, the seller's transaction price
6 Yunnan power sales company increased rapidly, and the transaction electricity volume exceeded half of the market electricity
in the first half of 2017, a total of 50 power sales companies completed the market access procedures, 22 power sales companies paid the deposit, and 2055 power user commissioned service authorizations were completed. The monthly transaction electricity volume of power sales companies increased steadily, For the first time, the proportion of electricity traded in June accounted for more than half of the market electricity; The average transaction price of power selling companies is 1.7 points lower than the market average price per kWh
comparison between the trading volume of power selling companies and the market electricity in the first half of 2017
7 Yunnan is the first power selling company credit evaluation mechanism, and the deposit can be refunded if the evaluation level is high
Yunnan is the first Province in China to carry out the construction of credit system according to the credit evaluation index system. At present, the credit evaluation results and analysis reports of power selling companies in the first two quarters have been published, realizing the linkage between the evaluation grade and the margin. Power selling companies with an evaluation grade of aa- or above can choose to apply for refund of the margin by referring to the margin adjustment coefficient. At the same time, a blacklist and negative access system has been established. Power selling companies that conduct business without registration are directly rated as C and rated as D. they are forcibly delisted and included in the blacklist
8 Kunming Power Trading Center releases the K-line chart of day ahead trading and provides price guidance
from August 1 this year, Kunming Power Trading Center will update the K-line chart of day ahead trading every day (K-line chart is mostly used in stock market and futures market), including yesterday's average price, today's average price, today's highest price, today's lowest price and other information, which is conducive to market players to explore market rules and formulate quotation strategies
2017.8.31 transaction K-line chart
9 Yunnan organizes the annual bilateral contract mutual insurance transaction for the first time in the country to help market players prevent and control risks
the bilateral contract mutual insurance agreement is a mutual insurance agreement signed between power generation enterprises and power users. When one party is unable to perform the contract electricity due to special reasons, the other party can perform on behalf of the other party under the condition of ensuring electricity safety. On June 20, 2017, Kunming Electric Power Trading Center organized the first annual bilateral contract mutual guarantee transaction in China. A total of 15 market entities declared and all of them were power users. Finally, 8 users traded 24.37 million kwh of electricity
10 in addition to the west to East power transmission agreement, the power of Yunnan to Guangdong is relatively small, and the sensor and encoder signals are processed and displayed on the computer screen.
outside the framework agreement of West to East power transmission, in order to promote the consumption of hydropower in Yunnan, Guangzhou Trading Center has organized many transactions of Yunnan to Guangdong, including the correct installation and transfer of power generation on a solid foundation or workbench and incremental listing. In the first inter provincial power generation right transaction in the southern region on June 20, only one pair of power plants in Yunnan and Guangdong were finally traded, while the power generation contract transfer in August and September was 0 due to the large price difference between the two sides. In terms of incremental listing, the trading volume in April and may was small, 950000 and 200000 kwh respectively, and the price was about 202 yuan/kWh. However, after entering the flood season, the problem of hydropower consumption was prominent. The listing trading volume in July and August was 535 million and 100million kwh respectively, and the price also fell to 160 yuan/kWh. During this period, everyone discussed the inter provincial barriers and unreasonable transmission and distribution electricity prices, but on the whole, it is still developing in a good direction