Study and analysis on supply-demand interaction of power systems under new circumstances

Supply-demand interaction is the development trend of power systems under new circumstances, such as electricity market reform, smart grid construction, large-scale renewable energy integration, and the requirement of constructing and perfecting efficient electricity market. Supply-demand interaction also exerts positive effects on the safety, reliability and environmental-friendliness of the power system. Combined with the situation of China, a wide variety of supply-demand interaction forms was comprehensively summarized based on the participation level of the demand side, including power generation/consumption right trade, demand response, demand-side bidding, load dispatch, and distributed generator included dispatch. Market characteristics including supply-demand, price and risk mechanisms, and under supply-demand interaction were discussed. Implementation benefits including leveling the load, encouraging the integration of renewable energy, enriching the control and adjust methods of the system, and promoting the market efficiency were analyzed. Further research directions and suggestions for China were proposed.