Study on Capacity Price Mechanism of Navigation-Power Junction Under the Decline of Priority Electricity Quantity

The priority electricity price mechanism is difficult to play the incentive role of "supporting navigation with electricity" under the background of unified bidding of hydropower, wind power, solar power and thermal power, and the full entry of electricity generation into the market. It is urgent to explore and establish a mechanism for recovering the lock costs of navigation-power junctions in the electricity market environment. This paper analyzes the quasi-public welfare characteristics of navigation-power junctions and their adaptability to the electricity market, puts forward the capacity price mechanism with lock cost premium, and analyzes its role in ensuring fair participation in the electricity market, stabilizing the expectation of cost recovery, and reducing investment and operation risks. Case studies show that the capacity price of navigation-power junctions has little impact on the electricity price for users in the electricity market and is highly operable.