The Coordination Mechanism between Medium- and Long-term Market and Spot Market in China

In recent years, with the trial operation of China's spot market, new requirements have been put forward for the design of the coordination mechanism between med-/long-term transactions and the spot market. Based on the actual development of China's electricity market, this paper studies the coordination mechanism of med-/long-term electricity market and spot market, mainly analyzes the price mechanism of med-/long-term electricity trading, the decomposition of contract electricity in spot market and the settlement of contract deviation electricity, summarizes the latest development achievements in spot market pilot areas, compares the experience in foreign related fields, and provides relevant suggestions considering different development stages of spot market.