Design and Verification of the Electric Power Capacity Guarantee Mechanism Adapted to the Requirements of China's Energy Transition Development

In response to the issue of incomplete return mechanisms for various types of power generation resources in China under high proportion new energy scenarios, an evolution plan from the current coal-fired capacity pricing mechanism to a capacity compensation mechanism based on marginal unit shortage costs and the initial stage of the capacity market has been proposed. Evaluation indicators for the mechanism's effectiveness have been designed based on the smoothness of market transition. Through numerical examples, it has been verified that this scheme can safeguard the interests of both parties involved in power generation and utilization, effectively achieve long-term sufficient reliable capacity of the power system, and support the steady progress of China's energy transformation and development process. It has certain guiding significance for the construction of China's capacity guarantee market mechanism.