Core Insights - In 2025, Southern Power Grid achieved significant progress, marking a "remarkable" year with the successful completion of its second-phase strategic goals for building a world-class enterprise [1] - The company reported a record electricity transmission volume of 2,616 billion kilowatt-hours in 2025, surpassing the previous year's 2,206 billion [2] - Southern Power Grid has integrated deeply into the national electricity production layout, enhancing energy security [3] Group 1: Operational Achievements - The company effectively responded to extreme weather and market challenges, achieving a record load of 257 million kilowatts [4] - Electricity supply reliability reached 99.99%, with customer average outage time reduced by over 60% [5] - Fixed asset investment exceeded 730 billion yuan, a 23% increase from the previous five-year plan, with major projects completed [6] Group 2: Technological Innovations - Southern Power Grid introduced several groundbreaking technologies, including the world's first high-voltage flexible direct current converter and quantum current sensor [9] - The company launched the "Electric Hong" IoT operating system, enhancing interoperability and data connectivity [10] - Six technological achievements were recognized by the Ministry of Industry and Information Technology as application demonstrations [10] Group 3: Strategic Development - The launch of a continuous settlement pilot for the southern regional electricity market marked a significant milestone in electricity market reform [12] - The company has expanded its business layout, achieving a market capitalization exceeding 150 billion yuan and enhancing its international presence with 12 major projects [13] - Southern Power Grid's asset scale reached 1.4 trillion yuan, with continuous improvement in core operational indicators [13] Group 4: Future Outlook - As the company moves into the "15th Five-Year Plan," it aims to continue creating new achievements and making significant progress towards the goals of Chinese-style modernization [14]

"十四五"期间，该公司新建220千伏变电站1座，扩建220千伏变电站1座，新扩建110千伏变电站6座，累 计新增变电容量103万千伏安，新型电力系统建设接续推进。2025年以来，该公司以高弹性电网建设支 撑电网资源深度挖潜，打造智能坚强电网应对台风频繁侵袭、负荷屡创新高等挑战，全面开展状态检 修、集中检修和带电作业，供电可靠性达99.9944%，电网供电能力和供电可靠性稳步提升。 1月8日，国网浙江玉环供电公司数据显示，在刚刚过去的2025年，玉环市全社会用电量达77.37亿千瓦 时，同比增长9.59%，全社会最高负荷达164.66万千瓦，同比增长10.93%，均为历史新高。 ...

1月5日，冬日的暖阳温柔洒落，漫过陕西商洛洛南县柳树洼村的白墙灰瓦，村中连绵成片的光伏板，裹 上了暖融融的光晕，在黄土坡上熠熠生辉。不远处的观光台上，慕名而来的游客三三两两驻足而立，举 着手机对着一望无际的银色"海洋"拍照留念，时不时发出几声惊叹，对这片土地的绿色转型啧啧称赞。 绿色转型驱动发展引擎，清洁电力照亮前行之路。国网陕西省电力有限公司立足陕西能源基地战略定 位，以构建新型电力系统为核心，在强网架、拓通道、优调节、促交易的实践中步履不停，让绿色电能 成为串联生态保护与经济发展的丝线，在三秦大地上织就出一幅产业兴、百姓富、生态美的壮丽画卷。 电网强基 筑牢绿电奔腾硬支撑 陕西商洛洛南县吸引众多游客观光的光伏基地，是陕西倾力打造的100兆瓦光伏农业与观光旅游综合利 用示范项目——"光伏农场"。自并网运行以来，项目不仅实现了地上发电、地面农业、厂区观光的融合 发展，更为周边4个村带来稳定分红，通过打造特色种植示范区，让绿电真正成为赋能乡村振兴的"金钥 匙"。 网架织锦绣，银线越山河。绿色能源转型串联起城乡烟火，更牵起产业的兴旺、百姓的富足。三秦大地 上，一幅由绿色电能铺就的高质量发展长卷，正在徐徐展开，为能 ...

Core Insights - Shenzhen Electric Power Supply Bureau has successfully completed the billing settlement for the discharge of electric vehicles to the grid, marking a significant breakthrough in the commercialization of vehicle-grid interaction and the management of bidirectional energy flow in Shenzhen [1] - The approval from the Guangdong Provincial Development and Reform Commission in 2025 establishes a pricing mechanism for electric vehicles discharging to the grid, using a peak, flat, and valley pricing model, with a base rate of 0.453 yuan per kilowatt-hour [1] - The establishment of a dedicated pricing and settlement model for V2G (Vehicle-to-Grid) by the Shenzhen Electric Power Supply Bureau allows for differentiated time-based billing, enabling precise measurement of energy contributions from electric vehicles during peak and off-peak periods [1] Industry Developments - Shenzhen is one of the first cities in China to implement large-scale vehicle-grid interaction applications, achieving records for the highest single discharge volume and single vehicle single pile discharge power in 2025 [2]

Core Viewpoint - The newly issued "Basic Rules for Long-term Electricity Market" represents a systematic and forward-looking top-level design aimed at promoting the healthy, orderly, and efficient development of the long-term electricity market in alignment with the dual carbon goals [1] Group 1: Systematic Restructuring - The name change from "Basic Rules for Long-term Electricity Trading" to "Rules" signifies a qualitative change in content [3] - The old document focused more on specific trading behaviors, while the new rules establish a complete market ecosystem, including market participants, risk prevention, and legal responsibilities [4] - This shift reflects a transition from managing specific transactions to constructing a market governance system, providing a solid institutional guarantee for a standardized, transparent, and reliable market operation [4] Group 2: Conceptual Innovation - The new rules explicitly define new types of operating entities, including virtual power plants, load aggregators, smart microgrids, distributed photovoltaics, and energy storage [5] - The previous document lacked clear definitions and regulations for these entities, but the new rules clarify their rights and obligations, particularly regarding participation in green electricity trading [6] - This recognition of distributed resources and flexibility resource aggregators as legitimate market participants is a crucial step in building a new electricity system [6] Group 3: Mechanism Deepening - Green electricity trading has been integrated into the main rules rather than remaining an independent document, enhancing its market status [8] - The new rules incorporate green electricity trading as a core trading category, aligning it with conventional long-term trading in terms of pricing mechanisms, contract management, and settlement rules [8] - This integration promotes the marketization of green electricity trading and ensures that environmental values are effectively transmitted and realized through market mechanisms [8] Group 4: Technical Enhancements - The new rules emphasize continuous daily operations and standardization, raising the operational foundation of the market [9] - The previous document had vague requirements regarding trading frequency and system continuity, while the new rules specify daily continuous operation requirements for trading platforms [10][11] - High-frequency and continuous trading is essential for price discovery and risk management, and the new rules lay a solid foundation for seamless integration with the spot market [11]

Core Insights - In 2025, Hubei's green electricity trading volume is expected to achieve significant growth, with a total of 30.85 billion kilowatt-hours traded, representing a 52% year-on-year increase [1] - The number of green certificates purchased through the Beijing Power Trading Platform reached 8.3 million, marking a 152% increase year-on-year, with cumulative purchases exceeding 11 million during the 14th Five-Year Plan period [1] Group 1 - Hubei's inter-provincial green electricity trading reached 761 million kilowatt-hours, while intra-provincial trading accounted for 2.324 billion kilowatt-hours [1] - The Hubei Power Trading Center is actively exploring new models for cross-regional green electricity trading, leveraging high-voltage transmission lines to facilitate green electricity access from Inner Mongolia to Hubei [1] - The first monthly green electricity transaction between Hubei and Inner Mongolia was successfully completed on September 1, 2025, with a cleared volume of 0.02 billion kilowatt-hours, marking a significant milestone in cross-regional cooperation [1] Group 2 - The Hubei Power Trading Center has optimized the provincial green electricity trading mechanism to address previous issues of contract rigidity that led to reduced trading volumes [2] - Innovations include allowing flexible adjustments to green electricity contract volumes through daily rolling transactions [2]

Core Viewpoint - The newly issued "Basic Rules for the Medium and Long-term Electricity Market" aims to transform electricity users from passive consumers to active participants, promoting a more efficient, stable, inclusive, and sustainable electricity market, which serves as a foundational framework for a unified national electricity market and a new power system [1][2][3][4] Group 1: Market Mechanism and User Stability - The rules encourage long-term power purchase agreements (PPA) and promote daily trading within the month, providing users with stable electricity supply and cost management, thus reducing risks associated with electricity price volatility [1] - By extending trading cycles and shortening trading frequencies, the rules aim to lock in long-term electricity plans and costs, enhancing the long-term balance of supply and demand [1] Group 2: Resource Optimization and Competition - The rules establish a unified technical support system for electricity trading platforms, facilitating nationwide data integration and breaking down inter-provincial barriers to optimize electricity resource allocation [2] - The introduction of cross-regional trading mechanisms allows electricity to flow from resource-rich areas to load centers, addressing the imbalance between energy distribution and concentrated demand [2] Group 3: New Entity Integration and Carbon Goals - The rules incorporate new business entities into the medium and long-term market, allowing for innovative trading methods that address the challenges of small and decentralized new entities [3] - By requiring green electricity transactions to be traceable and linked to green certificates, the rules enhance the market appeal of renewable energy sources like wind and solar power, supporting users in achieving sustainability goals [3] Group 4: Risk Management Framework - The rules implement a comprehensive risk management system through a three-tiered approach: safety verification, deviation assessment, and credit risk prevention, ensuring stable electricity supply for users [4] - The first line of defense involves safety checks by electricity dispatch agencies to prevent excessive trading that could lead to grid congestion, while the second line focuses on assessing discrepancies between actual and contracted electricity usage [4]

Core Insights - Ningxia's new energy grid connection is projected to reach 15.99 million kilowatts by 2025, marking the highest annual addition and surpassing the total of the first four years of the 14th Five-Year Plan [1] - The utilization rate of new energy in Ningxia is expected to reach 94.55%, maintaining the top position in the Northwest region for seven consecutive years [1] - Energy storage capacity in Ningxia is set to increase to 763 million kilowatts and 1.59 million kilowatt-hours by the end of 2025, ranking among the top in the State Grid Corporation [1] Group 1 - By 2025, Ningxia will add 2.91 million kilowatts of energy storage, significantly boosting its energy storage capacity [1] - Ningxia Electric Power is enhancing pre-grid connection services and improving the entire process management to ensure smooth project commissioning [1] - Innovative measures such as optimizing energy storage usage and establishing monitoring mechanisms for new energy consumption are being implemented to address challenges in energy absorption [1] Group 2 - By 2026, Ningxia's installed new energy capacity is expected to reach 72 million kilowatts, accounting for 70% of the total capacity [2] - Ningxia Electric Power aims to empower new energy enterprises through comprehensive and systematic services while building a safer, more efficient, and smarter green grid [2] - The focus is on enhancing Ningxia's new energy absorption capacity and operational quality through multi-dimensional strategies [2]

Core Insights - The report highlights the resilience and comprehensive strength of Chinese power generation companies in 2024, particularly in asset scale, green low-carbon transition speed, and technological innovation investment, indicating a steady increase in overall competitiveness and influence in the global energy landscape [1][5]. Group 1: Comparative Strengths - Chinese power generation companies occupy five out of the top eight positions in the comparative ranking, with State Grid, China Three Gorges, China Huaneng, and State Power Investment following France's Electricité de France [2]. - Chinese companies show significant advantages in installed capacity and generation volume, with State Energy Group leading globally with over 350 million kW of installed capacity and 12.6 trillion kWh of generation [3]. Group 2: Brand and Revenue Performance - Both domestic and foreign companies experienced declines in revenue, with Chinese companies generating $412.2 billion and foreign companies $552.3 billion, reflecting a year-on-year decrease of 1.6% and 13.8% respectively [3]. - Chinese companies have shown impressive growth in asset scale but still need to enhance international revenue and global brand influence [3]. Group 3: Innovation and Governance - Domestic companies lead in technological innovation, with a higher technology investment ratio of 1.0% compared to 0.5% for foreign companies, and a technology innovation efficiency index of 7.3 versus 6.5 [4]. - Chinese companies maintain robust performance in asset-liability ratio and operating cash flow, with State Energy Group and China Three Gorges ranking high in governance metrics [4]. Group 4: Highlights of Domestic Power Generation Companies - By the end of 2024, domestic companies' total installed capacity reached 1.86 billion kW, 2.3 times that of foreign counterparts, with a net increase of 18.5 million kW, 17.6 times that of foreign companies [5]. - The share of non-fossil energy installed capacity increased by 3.8 percentage points to 54.3%, with companies like China General Nuclear Power and China Three Gorges achieving high levels of clean energy [5]. Group 5: Global Industry Dynamics - The report identifies new challenges in the global energy transition, such as the systemic safety risks associated with high proportions of renewable energy integration, urging Chinese companies to enhance their grid support capabilities [7]. - The report notes a global trend of energy companies focusing on stable markets and divesting from less stable regions, highlighting the need for Chinese companies to assess country-specific risks in their overseas investments [8]. Group 6: Future Directions for 2026 - The report outlines five key focus areas for Chinese power generation companies in 2026: strengthening energy security, adapting to the market entry of renewable energy, upgrading coal power, exploring new industrial scenarios, and embracing AI technologies [9][10]. - Companies are encouraged to enhance their capabilities in power security, green development, technological innovation, and international influence to support the construction of a new energy system [9][10].

时代的坐标系上，刻印了发展的足迹。 刚刚走过的2025年，令人难忘，在南方电网发展历程中写下了"很不平凡"的一笔—— 这一年，南方电网各项事业取得长足进步，在学习教育中砥砺作风，在巡视整改中淬炼党性，在多重考 验中挺膺担当，在复杂环境中稳进应变，在决战决胜中进位争先，建设世界一流企业第二阶段战略目标 如期实现、圆满达成。 这五年，"十四五"圆满收官，南方电网综合实力实现跨越式发展，服务大局发挥顶梁柱作用，"两型建 设"取得开创性进展，发展方式锻造系统性优势， 深化改革彰显示范田担当，业务布局取得全方位突 破，全面从严治党实现整体性重塑。 从一年看五年，极不寻常、极不平凡，南方电网在变革、斗争、担当的主旋律中，跑好了关键一程、铸 就了辉煌一章。 这一程牢记嘱托、勇担使命 将担当作为熔铸于国家发展大局 2026年1月1日，喜讯和新年的钟声一起传来——南方电网西电东送2025年送电量达2616亿千瓦时、创历 史新高。从"十四五"开局之年"2206亿"，到收官之年"首超2600亿"，西电东送电量的增长，映照出南方 电网守护万家灯火的初心。 于时代奋进处落笔 续写中国式现代化南网实践新篇 ——写在南方电网公司第四届职工 ...