The most popular power continuous listing transact

2022-07-29
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On December 27, Kunming Electric Power Trading Center successfully organized the continuous listing and trading in January 2018, including three stages: information publicity, call auction and continuous bidding, which are automatically controlled by the trading system according to the preset parameters. This is the first time in China to adopt the collective bidding and continuous bidding rules to test whether the temperature of the material pipe and the temperature of the mold are suitable for the processing of raw materials, which are the same as those used in stock trading. It is of great significance to enrich the power trading rules, which are often listed as plastic machinery rules, increase market transparency and improve trading efficiency, and is expected to become the main rules of the medium - and long-term power trading centralized market in the future

(PS: for details on the interpretation of the continuous listing rules, have you ever thought about doing power trading like stock speculation?)

information publicity

information publicity is a primary issuance market of similar stocks. The design purpose is to complete the security check and rationality check of declaration data before the transaction, determine the upper limit of transaction scale of each market entity, and freeze the corresponding transaction service fee and margin of power selling companies, so as to make the subsequent centralized bidding and continuous bidding transactions more efficient

the information publicity of the continuous listing and trading in January 2018 was carried out at 14:00 on December 26. A total of 95 power users and 16 power selling companies of the buyer participated in the publicity, with a total of 354.437 million kilowatt hours of declared power; The seller participated in the publicity with a total of 149 home appliance plants, and declared a total of 1608.185 million kwh

call auction

call auction is carried out before the opening of continuous bidding. The order placing time is 20 minutes. After the order placing deadline, the transaction shall be conducted once according to the transaction rules. All orders shall be deemed to be placed at the same time, and the part of the order that is not completed will automatically be transferred to the continuous bidding stage

december 27 is the trading day of call auction and continuous auction

9:50 am is the call auction stage

a total of 64 power users and 8 power selling companies of the buyer successfully placed 105 orders, with a total electricity of 184252000 kwh. The average declared price was 0.22514 yuan/kWh, the highest declared price was 0.3 yuan/kWh, and the lowest declared price was 0.21 yuan/kWh

the seller has successfully placed orders from 95 home appliance plants, with 173 orders, totaling 1194862000 kwh of electricity. The average declared price is 0.23251 yuan/kWh, the highest declared price is 0.29 yuan/kWh, and the lowest declared price is 0.219 yuan/kWh

compared with the published electricity price, the user increased the quotation, the power plant reduced the quotation, and the differences between the two sides were further reduced under the guidance of the supply-demand ratio and the price signal

09:52 the trading system released the call auction trading results, and 53 power users, 5 power selling companies and 13 home appliance plants concluded transactions, with 58.2 million kwh of electricity traded, accounting for 23.3% of the total electricity traded in consecutive listings; The average transaction price is 0.22416 yuan/kWh, the highest transaction price is 0.2595 yuan/kWh, and the lowest transaction price is 0.2225 yuan/kWh

continuous bidding

10:: 30 is the first round of continuous bidding. The buyer and the seller can view the market information in real time and place orders in real time

10:00:25 the first order was concluded, with a transaction volume of 210000 kWh and a transaction price of 0.2305 yuan/kWh, 6.34% higher than the average transaction price of call auction

within the first five minutes of opening, 39 orders were traded, with an average of 7.7 seconds. The total volume of electricity traded was 10.834 million kwh, with the highest transaction price of 0.2305 yuan/kWh and the lowest transaction price of 0.225 yuan/kWh

in the first round of 1.5-hour continuous bidding in the morning, both parties placed orders actively and operated frequently. The buyer successfully placed 227 orders, including 73 orders cancelled, and the seller successfully placed 508 orders, including 199 orders cancelled. However, in terms of price, both sides focus on "stability", and the overall market price is stable. It can be seen more clearly through the 5-minute K line below

in the first round of continuous bidding in the morning, a total of 197 orders were traded, with a cumulative trading volume of 126.334 million kwh, accounting for 50.7% of the total trading volume of continuous listing. The average trading volume of each order was 641000 kwh, and the maximum trading volume of a single transaction was 10million kwh; The average transaction price is 0.22536 yuan/kWh, the maximum transaction price is 0.2305 yuan/kWh, and the minimum transaction price is 0.224 yuan/kWh

11:: 00 is the closed period

14:: 30 is the second round of continuous bidding

in the afternoon, based on the experience in the morning, the buyer and the seller operated more steadily, and the number of orders was significantly reduced, but the power of a single transaction was significantly increased. In the second round in the afternoon, the buyer successfully placed 71 orders, 20 of which were cancelled, and the seller successfully placed 148 orders, 70 of which were cancelled

however, in terms of price, in order to increase the trading volume and obtain more power generation share, the buyer took the initiative to lower the price expectation at the end of the afternoon, and the transaction price went down all the way, reaching a minimum of 0.22 yuan/kWh

in the second round of continuous bidding in the afternoon, a total of 63 orders were traded, with a cumulative trading volume of 64.743 million kwh, accounting for 26% of the total trading volume of continuous listing. The average trading volume of each order was 1.028 million kwh, 1.6 times that of the first round in the morning. The trading efficiency of both parties was significantly improved. The maximum transaction power of a single transaction is 7.7 million kwh; The average transaction price is 0.2232 yuan/kWh, 2.16% lower than that of the first round. The highest transaction price is 0.2275 yuan/kWh, and the lowest transaction price is 0. Then the price of the impact test machine will be higher 22 yuan/kWh

the whole 5-minute K-line of continuous bidding is like this

in two consecutive rounds of bidding, the buyer placed 298 orders in total, the seller placed 656 orders in total, and the final transaction was 260. The total transaction volume was 191077000 kwh, and the average transaction volume per order was 735000 kwh, with an average transaction price of 0.22463 yuan/kWh

a total of 249.277 million kwh of electricity were traded in two consecutive listing stages (call auction and continuous listing), with an average transaction price of 0.22452 yuan/kWh, a maximum transaction price of 0.2595 yuan/kWh and a minimum transaction price of 0.22 yuan/kWh

significance

call auction and continuous auction in the stock circulation market are recognized as the most efficient trading methods, which can effectively overcome the shortcomings of centralized matching trading and listing trading. However, they combine their advantages and introduce the time dimension to disclose market information, place orders and complete transactions in real time, greatly improving market transparency and trading efficiency

the successful implementation of this continuous listing transaction is a successful practice of collective bidding and continuous bidding in the field of power trading, which has greatly improved the trading efficiency and market transparency. In the next step, Kunming Power Trading Center will further promote the interdependence between the upstream and downstream, further summarize the operation experience, continuously improve the information system design, and provide a better trading experience for both buyers and sellers, Develop the continuous listing and trading into the main variety of the medium and long-term centralized power trading market

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