The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China

Abstract Natural gas-fired electricity (NGFE) is expected to play a more important role in the future due to its characteristics of low pollution, high efficiency and flexibility. However, its development in China is impeded by its high regulation price compared with coal power. Market reform is the...

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Autores principales:	Li-Jing Zhu, Yan Li, Yan-Yan Tang, Yao-Ming Li, Qi Zhang
Formato:	article
Lenguaje:	EN
Publicado:	KeAi Communications Co., Ltd. 2017
Materias:	Natural gas-fired electricity Renewable electricity Real-time pricing Market reform Game-theoretic model Science Q Petrology QE420-499
Acceso en línea:	https://doaj.org/article/656cddf5faaf4f9d91ab79df638cf6dd
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spelling	oai:doaj.org-article:656cddf5faaf4f9d91ab79df638cf6dd2021-12-02T07:13:52ZThe impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China10.1007/s12182-017-0184-z1672-51071995-8226https://doaj.org/article/656cddf5faaf4f9d91ab79df638cf6dd2017-09-01T00:00:00Zhttp://link.springer.com/article/10.1007/s12182-017-0184-zhttps://doaj.org/toc/1672-5107https://doaj.org/toc/1995-8226Abstract Natural gas-fired electricity (NGFE) is expected to play a more important role in the future due to its characteristics of low pollution, high efficiency and flexibility. However, its development in China is impeded by its high regulation price compared with coal power. Market reform is therefore of vital importance to promote the penetration of NGFE. The objective of this study is to analyze the impacts of market reform and the renewable electricity (RE) subsidy policy on the promotion of NGFE and RE. A dynamic game-theoretic model is developed to analyze the interaction among the NG supplier, the power sector and the power grid. Three scenarios are proposed with different policies, including a fixed regulation price of NG and electricity, real-time pricing (RTP) of NG and electricity, and subsidy targeted at RE. The results show that: (1) market reform can sharply decrease the NG price and consequently promote the development of NGFE and RE; (2) subsidy targeted at RE not only promotes the penetration of NGFE and RE, but also increases the utilization ratio of renewables significantly; (3) market reform and the subsidy also enhance consumers’ welfare by reducing their power consumption expenditure.Li-Jing ZhuYan LiYan-Yan TangYao-Ming LiQi ZhangKeAi Communications Co., Ltd.articleNatural gas-fired electricityRenewable electricityReal-time pricingMarket reformGame-theoretic modelScienceQPetrologyQE420-499ENPetroleum Science, Vol 14, Iss 4, Pp 831-841 (2017)
institution	DOAJ
collection	DOAJ
language	EN
topic	Natural gas-fired electricity Renewable electricity Real-time pricing Market reform Game-theoretic model Science Q Petrology QE420-499
spellingShingle	Natural gas-fired electricity Renewable electricity Real-time pricing Market reform Game-theoretic model Science Q Petrology QE420-499 Li-Jing Zhu Yan Li Yan-Yan Tang Yao-Ming Li Qi Zhang The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China
description	Abstract Natural gas-fired electricity (NGFE) is expected to play a more important role in the future due to its characteristics of low pollution, high efficiency and flexibility. However, its development in China is impeded by its high regulation price compared with coal power. Market reform is therefore of vital importance to promote the penetration of NGFE. The objective of this study is to analyze the impacts of market reform and the renewable electricity (RE) subsidy policy on the promotion of NGFE and RE. A dynamic game-theoretic model is developed to analyze the interaction among the NG supplier, the power sector and the power grid. Three scenarios are proposed with different policies, including a fixed regulation price of NG and electricity, real-time pricing (RTP) of NG and electricity, and subsidy targeted at RE. The results show that: (1) market reform can sharply decrease the NG price and consequently promote the development of NGFE and RE; (2) subsidy targeted at RE not only promotes the penetration of NGFE and RE, but also increases the utilization ratio of renewables significantly; (3) market reform and the subsidy also enhance consumers’ welfare by reducing their power consumption expenditure.
format	article
author	Li-Jing Zhu Yan Li Yan-Yan Tang Yao-Ming Li Qi Zhang
author_facet	Li-Jing Zhu Yan Li Yan-Yan Tang Yao-Ming Li Qi Zhang
author_sort	Li-Jing Zhu
title	The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China
title_short	The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China
title_full	The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China
title_fullStr	The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China
title_full_unstemmed	The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China
title_sort	impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in china
publisher	KeAi Communications Co., Ltd.
publishDate	2017
url	https://doaj.org/article/656cddf5faaf4f9d91ab79df638cf6dd
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The impacts of market reform on the market penetration of natural gas-fired electricity and renewable energy in China

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