Study on the Influence of Retail Power Traders on Market Search Efficiency in the Retail Electricity Market

Starting from the perspective of information asymmetry theory, the characteristics of retail power traders in the retail electricity market under the wave of electricity reform in China were analyzed. It was proposed that the presence of power traders in the retail electricity market can reduce the search efficiency of market entities, and achieve an efficient match between users and power trading companies.This paper deduced the definition function of market entity search efficiency, established a search matching model with or without the participation of retail power traders, and studied the impact of changes in external factors such as information efficiency, unit search cost, and commission rate on the search intensity and search time of market entities. The results demonstrate that the presence of retail power traders has a positive impact on the search behavior of power trading companies and users.The findings suggest that changes in market external factors can significantly affect the search behavior of market entities, while the presence of retail power traders can enhance the search intensity of market entities, reduce search time, and ultimately lower the search efficiency of the entities. This demonstrates the positive impact of retail power traders on the market, providing theoretical suggestions for the subsequent construction of the retail electricity market.