According to the structure of energy

economy

power grid and market of Yunnan province in China

the new electricity market structure

trading mechanism and information disclosure mechanism are designed based on the theories of incentive compatibility

game in depth and information asymmetry. The three-step trading system of “point-to-point”

“back-to-back”

“face-to-face” is put forward to achieve a trading mode centered on long-term transactions and supplemented by short-term transactions. Monthly bilateral transactions are carried out on the basis of the annual bilateral transactions and the price adjustment mechanism is designed to make the “point-to-point” bilateral trade more flexible. Declaring multi-block and multiple prices is allowed to improve the close rate of “back-to-back” centralized trading. Transaction opportunities of “face-to-face” self-listed trading are increased by giving buyers and sellers the rights to take turns. Day-ahead transactions are introduced to help the market subject control bias and improve the contract compliance rate. Yunnan electricity market mechanism has achieved good practical results. In 2016 Yunnan market transaction power reached 59 TW·h. The overall contract compliance rate was more than 96%. The proportion of clean energy power generation reached 92. 7%. Thus the Yunnan electricity market model is becoming more and more mature.