Review and Outlook of the Development of China’s Electricity Market Performance Control Mechanism

Since the promulgation of Document 9, China’s electricity market reform has accelerated, the reform measures have been carried out in an orderly manner, effective progress has been made in several areas, and positive results have been achieved. Market performance is the key to guaranteeing electricity market transactions, and market default is a common risk problem in electricity market operation. Therefore, the performance control mechanism in the power market is a key part of the stable operation and development of the power market in the future. This paper compares China’s electricity market’s construction status and performance situation at the present stage and summarizes the situation and differences in performance control mechanisms in China’s electricity market. By analyzing and discussing some key elements, including credit evaluation system, quantification, and early warning of performance risks, guarantee mechanism, and performance control methods, several issues and challenges of the construction of performance control mechanism in China’s electricity market are proposed. Finally, the thinking and outlook of constructing the performance control mechanism in China’s electricity market are proposed in response to these key issues. It is hoped that the research results of this paper can provide new ideas and insights for the construction of China’s electricity market in the future.