Study on Operation Mechanism of Balancing Market in Germany and Its Enlightenment for China

The goals of “carbon peaking and carbon neutrality” and the access of large-scale new energy bring challenges to the balance of supply and demand as well as to the safe and reliable operation of the new power system. In order to ensure a balance of power system, there is an urgent need to propose a suitable balancing mode for the new power system. Based on the successful experience of Balancing Responsible Party (BRP) in German electricity market to solve the balance problem of supply and demand in real-time operation of power system with the improvement of the operational economy, this paper provides a thorough analysis of electricity balancing mechanisms with BRP and transaction settlement patterns in the German electricity balancing market. Moreover, the status of China's new electricity market is involved with suggestions for the future development of the balancing market.