Research Overview of Hydropower Participation in Electricity Market

Hydropower has the advantages of convenient start and stop, fast climbing speed and strong adjustment ability. At the same time, China has the largest installed capacity of hydropower in the world with it being the second largest conventional energy in the country. Therefore, it is of great significance to study the participation of hydropower in the electricity market mechanism to promote the construction of China's electricity market and realize the clean transformation of energy. However, the existing reviews mostly focus on the research of new energy participating in the market, and lacks the analysis of researches on hydropower participating in the electricity market. Based on the current situation of hydropower development, this paper compares the differences between hydropower and new energy power in participating in the electricity market, analyzes the special problems faced by hydropower in participating in the electricity market, and summarizes the market structures of hydropower-rich regions at home and abroad and the relevant mechanisms of hydropower participating in the electricity market. On this basis, the existing research results such as clearing models and bidding strategies of hydropower participating in electricity market are summarized, and the further research directions of hydropower participating in the electricity market are put forward.