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Renewable energy, such as wind power and photovoltaic power, has uncertain and intermittent characteristics and zero marginal cost characteristics. The traditional power market mechanism is difficult to adapt to the new power system with a high proportion of renewable energy, and the original market system needs to be reformed. This paper discusses the application of a VCG auction mechanism in the electricity market, proposes a two-stage VCG market-clearing model based on the VCG mechanism, including the day-ahead market and the real-time market, and discusses the nature of the VCG mechanism. In order to address the discrepancy between the actual output of stochastic generator sets in the real-time market and their pre-scheduled output in the day-ahead market due to prediction deviations, a method for calculating punitive costs is proposed. A reallocation method based on market entities' contributing factors to budget imbalance is proposed to address the issue of budget imbalance under the VCG mechanism, in order to achieve revenue and expenditure balance. Through an example, the incentive compatibility characteristics of the VCG mechanism are verified, the problems of the locational marginal pricing (LMP) mechanism in the stochastic electricity market with a high proportion of renewable energy are analyzed, the electricity prices of the LMP mechanism and the VCG mechanism under different renewable energy proportions are compared, and the redistribution of the budget imbalance of the VCG mechanism is analyzed. [ABSTRACT FROM AUTHOR]

Developing renewable energy has become a major strategy for China to accelerate the energy transition and combat climate change. Accordingly, a guarantee mechanism for renewable energy consumption with renewable portfolio standards (RPS) has been set in China. However, currently, the top-down allocation of regional renewable energy consumption targets often has issues of unfairness and inefficiency. It is necessary to investigate the issue of how to stimulate the renewable energy consumption potential on the demand side and reasonably formulate the consumption responsibility weights of various market entities. This paper aimed to develop a new methodology for the weight allocation of renewable energy consumption responsibilities. In doing so, an integrated model of an evolutionary game and stochastic optimization was constructed between market entities and governments. Then, the equilibrium strategies of market entities and governments were obtained through the evolutionary game. Furthermore, based on the equilibrium strategies, this paper optimized the renewable energy consumption weight of each market entity, which constitutes the optimal allocation scheme of renewable energy consumption responsibility weights. Finally, using the data of 7069 market entities in Hubei Province in 2021, this study simulated the model to verify its effectiveness and practicability. The results indicate that the willingness of market entities to assume more consumption responsibility is positively correlated with the government's incentives and the maturity of the green electricity trading market. This study provides important implications for optimizing government regulations and promoting renewable energy consumption. [ABSTRACT FROM AUTHOR]