Group 1 - The rapid development of artificial intelligence (AI) is increasingly dependent on electricity supply, which is becoming a critical factor in the global AI industry landscape [1] - Goldman Sachs reports that by 2030, nearly all power grids in the United States will face insufficient backup capacity due to the soaring demand from data centers, potentially allowing China to gain a first-mover advantage in AI competition [1] - Currently, U.S. data centers account for 44% of global capacity and consume about 6% of U.S. electricity, with projections indicating this will rise to 11% by 2030 [1] Group 2 - In contrast, China's electricity supply demonstrates strong resilience, with a diversified energy system established through large-scale power construction since 2021 [2] - By 2030, China is expected to have approximately 400 gigawatts of backup power capacity, exceeding the anticipated total global demand for data centers by more than three times [2] - Currently, China's data center capacity represents one-quarter of the global total, and its ample power reserves create conditions for it to catch up with technology leaders [2]

——《电力中长期市场基本规则》解读 二是价格机制升级，强化真实价格信号引导。新规则着力推动中长期价格向现货价格收敛。一方面，合 同电价除选择固定价格外，也可与月度发电成本、现货价格联动；另一方面，取消直接交易用户分时电 价水平和时段的人为规定，根据现货价格统筹优化电网代购用户的峰谷电价政策，并推动短期交易限价 向现货限价贴近。这一系列措施使价格信号更能真实反映电力商品的时空价值，有效引导发用电行为， 提升系统整体运行效率。 三是规则体系升级，实现"1+6"规则体系深度融合。新规则强化了与电力市场"1+6"基础规则体系的系统 性衔接：与现货市场基本规则在时序、出清、结算上实现"时空耦合"；与计量结算、信息披露规则协 同，确保复杂交易场景下的操作规范与数据贯通；并为辅助服务、风险防控等规则的未来协同预留接 口，体现了前瞻性布局。 二、聚焦三大变革，构建面向未来的中长期市场体系 新规则的修订，基于电力系统所面临的内外部环境的深刻变化，回应了能源结构转型、市场建设阶段深 化和参与主体形态变革三个时代课题。新规则较好应对上述三大变革，致力于打造适应未来发展的中长 期市场体系。 广东电力交易中心党委书记、董事长 黄远明 ...

——《电力中长期市场基本规则》解读 随着市场化改革步入"深水区"，各类风险交织叠加，风险防控必须向"体系化"演进。《基本规则》从风 险识别、监测预警、分类处置三方面，系统构建全链条风控体系。 一是交易时序双向延伸，兼顾"稳定性"与"灵活性"。《基本规则》要求数年、年度、月度交易定期开 市，月内交易按日开市，既为电源投资及用户生产规划提供稳定预期，也为市场主体灵活调整、应对短 期波动提供制度工具。二是健全交易校核机制，确保中长期合同"可执行"。《基本规则》在电网安全校 核基础上，新增交易出清校核，进一步巩固中长期服务实物交割原则，确保交易合同符合电网实际运行 条件，为供需平衡提供支撑。三是完善价格联动机制，准确反映实时供需关系。《基本规则》要求直接 交易用户由市场形成分时曲线，并推动月内等短期交易限价与现货限价贴近，旨在形成精准反映电力时 空价值、连续协同的价格信号，更好引导发用电行为，激励调节资源投资。 二、市场运营锚定"标准化"，提高市场运转效率 构建全国统一大市场，关键在于基础设施的统一，即"车同轨、书同文"。聚焦到电力市场，《基本规 则》从业务流程、数据交互、技术平台三方面系统推进标准化建设。 一是统一 ...

Group 1 - The rapid development of artificial intelligence (AI) is increasingly dependent on electricity supply, which is becoming a critical factor in the global AI industry landscape [1] - Goldman Sachs reports that by 2030, nearly all power grids in the United States will face insufficient backup capacity due to the soaring demand from data centers, potentially allowing China to gain a first-mover advantage in AI competition [1] - Currently, U.S. data centers account for 44% of global capacity and consume about 6% of U.S. electricity, with projections indicating this will rise to 11% by 2030 [1] Group 2 - In contrast, China's electricity supply demonstrates strong resilience, with a diversified energy system established through large-scale power construction since 2021 [2] - By 2030, China is expected to have approximately 400 gigawatts of backup power capacity, exceeding its own needs and more than three times the anticipated total demand from global data centers [2] - Currently, China's data center capacity represents one-quarter of the global total, and its ample power reserves create conditions for it to catch up with technology leaders [2]

Core Viewpoint - The release of the "Basic Rules for the Medium and Long-term Electricity Market" marks a significant step towards a balanced approach to construction and operation in the electricity market, providing essential institutional support for the development of a unified national energy market [2] Group 1: Market Function Enhancement - The "Basic Rules" strengthen the medium and long-term market's role as a stabilizing force in supply assurance, expectation stabilization, risk avoidance, and investment attraction through systematic arrangements in transaction timing, clearing verification, and price linkage [3] - Transaction timing is extended in both directions, balancing stability and flexibility, with regular trading schedules established for multi-year, annual, and monthly transactions to provide stable expectations for power investment and user production planning [3] - A robust transaction verification mechanism is established to ensure the executability of medium and long-term contracts, reinforcing the principle of physical delivery and supporting supply-demand balance [3] - The price linkage mechanism is improved to accurately reflect real-time supply and demand, promoting closer alignment between short-term trading limits and spot price limits [3] Group 2: Market Operation Standardization - The "Basic Rules" promote standardization in the electricity market through unified business processes, data interaction, and technical platforms, aiming to reduce transaction costs and enhance operational efficiency [4] - Unified business processes are mandated for market registration, trading organization, and settlement to eliminate operational discrepancies across provinces, providing transparent and convenient services to market participants [4] - Standardized data interaction is required between electricity trading platforms and grid companies to facilitate efficient data flow and support resource optimization [4] - The introduction of platform norms, including "four unifications" and "dual-active backup," is aimed at ensuring market safety and preparing for more complex, high-frequency trading [4] Group 3: Risk Prevention and Control - The "Basic Rules" establish a comprehensive risk control system, evolving risk prevention to a more systematic approach in response to the complexities of market reforms [5] - Market risks are categorized into five types, including supply-demand imbalance and price anomalies, providing a clear framework for differentiated monitoring and intervention [5] - Proactive risk management measures are emphasized, with daily monitoring and preemptive strategies to enhance the timeliness and foresight of risk responses [5] - The operational authority is clarified for implementing intervention measures, ensuring effective risk management while preventing overreach or neglect in interventions [5] Group 4: Future Outlook - The medium and long-term market in Hubei has achieved continuous operation and integration with spot markets, with market participants exceeding 10,000 and market transactions accounting for nearly 60% of total electricity consumption [6] - Looking ahead, Hubei aims to deepen efforts in multi-market integration, standardized management, and intelligent risk prevention, contributing to the establishment of a leading provincial electricity market system in the context of national market construction [6]

电力中长期市场迈向高质量发展新阶段 ——《电力中长期市场基本规则》解读 广东电力交易中心党委书记、董事长 黄远明 《电力中长期市场基本规则》（下称"新规则"）的出台，是深化电力市场化改革的关键一步，是贯彻落 实党的二十届四中全会关于构建高水平社会主义市场经济体制的精神在能源领域的具体实践，标志着我 国电力市场体系从初步建成迈向高质量发展的新阶段。新规则为全国各省及区域电力市场探索试点前沿 机制、破解能源优化难题、助力新型电力系统建设提供了顶层制度保障，为实现"双碳"目标及"十五 五"发展注入强劲的市场动力。 一是聚焦能源结构转型，担当新型电力系统的稳定器。针对未来新能源占比高、发电出力不确定性强、 主体合同调整需求大的特点，新规则通过丰富交易时序、提出连续开市、优化分时量价形成，引入合同 灵活调整等机制，使中长期市场成为管理不确定性、平抑风险的有效工具，提升电力系统的可靠性和稳 定性。此外，规则整合了绿色电力交易专章条款，鼓励数年绿电交易，促进绿色价值兑现，护航新能源 产业健康发展。 二是聚焦市场建设阶段深化，筑牢全国统一市场的基石。电力市场从"省为实体"逐步走向"全国统一市 场"，同时现货市场全面铺开对中长 ...

电力中长期市场迈向高质量发展新阶段 ——《电力中长期市场基本规则》解读 广东电力交易中心党委书记、董事长 黄远明 《电力中长期市场基本规则》（下称"新规则"）的出台，是深化电力市场化改革的关键一步，是贯彻落 实党的二十届四中全会关于构建高水平社会主义市场经济体制的精神在能源领域的具体实践，标志着我 国电力市场体系从初步建成迈向高质量发展的新阶段。新规则为全国各省及区域电力市场探索试点前沿 机制、破解能源优化难题、助力新型电力系统建设提供了顶层制度保障，为实现"双碳"目标及"十五 五"发展注入强劲的市场动力。 一、立足三大升级，夯实市场稳健运行基础 近年来，各地电力市场建设按下加速键，全国"1+6"电力市场规则体系逐步健全。在2020年版《电力中 长期交易基本规则》的基础上，新规则聚焦市场运营、价格机制及规则衔接实现"三大升级"，推动中长 期市场更好发挥"压舱石"作用。 一是市场运营升级，增强与现货市场协同性。新规则细化了中长期交易组织要求，推动月内交易按日连 续开市，探索月至数年的交易连续开市，显著提升交易灵活性，有效提高"中长期+现货"市场体系的协 同性。在新能源渗透率日益提升、市场价格波动增强的趋势下，能 ...

电力中长期市场迈向"建设与运营并重"新阶段 三、风险防控锚定"体系化"，保障市场稳定运行 一、中长期功能锚定"压舱石"，促进资源优化配置 《基本规则》从交易时序、出清校核、价格衔接三方面，系统性强化了中长期市场，在保供应、稳预 期、避风险、引投资中的"压舱石"作用。 一是交易时序双向延伸，兼顾"稳定性"与"灵活性"。《基本规则》要求数年、年度、月度交易定期开 市，月内交易按日开市，既为电源投资及用户生产规划提供稳定预期，也为市场主体灵活调整、应对短 期波动提供制度工具。二是健全交易校核机制，确保中长期合同"可执行"。《基本规则》在电网安全校 核基础上，新增交易出清校核，进一步巩固中长期服务实物交割原则，确保交易合同符合电网实际运行 条件，为供需平衡提供支撑。三是完善价格联动机制，准确反映实时供需关系。《基本规则》要求直接 交易用户由市场形成分时曲线，并推动月内等短期交易限价与现货限价贴近，旨在形成精准反映电力时 空价值、连续协同的价格信号，更好引导发用电行为，激励调节资源投资。 二、市场运营锚定"标准化"，提高市场运转效率 构建全国统一大市场，关键在于基础设施的统一，即"车同轨、书同文"。聚焦到电力市场，《基 ...

Group 1 - The core message emphasizes the importance of integrating technological innovation with industrial development to enhance quality and productivity in Inner Mongolia [1][2] - The government aims to strengthen the role of enterprises in innovation, focusing on application-based and frontier research to boost original innovation capabilities [2] - Policies will support major technological upgrades in manufacturing, promoting smart, green, and integrated development [2] Group 2 - Quality supervision will be enhanced through stricter management of product certification and standards, particularly for products affecting public safety [3] - The government will implement comprehensive regulatory measures, including real-time monitoring and collaboration across departments to ensure product safety [3] - Food safety will be prioritized with a commitment to stringent regulatory practices to protect consumer health [3]

Core Insights - Inner Mongolia is expected to complete investments exceeding 300 billion yuan in major energy projects by 2025, with energy industrial investment accounting for approximately 35% of the region's fixed asset investment [2] Group 1: Energy Supply and Capacity - The energy supply security capability has significantly improved, with Inner Mongolia set to fulfill a coal supply task of 795 million tons by 2025, adding 13 new coal production capacity reserve projects totaling 23.6 million tons [2] - The total installed power capacity in Inner Mongolia is projected to exceed 300 million kilowatts, leading the nation, with an external electricity delivery of 3.5 trillion kilowatt-hours, maintaining the top position for 21 consecutive years [2] Group 2: Power System Enhancements - The power system's support and regulation capabilities will be further enhanced, with the completion of the 500 kV main grid construction for both the eastern and western power grids by 2025 [2] - The State Grid's eastern power market will initiate continuous settlement trial operations, while the western power market will transition to formal operations [2] Group 3: Renewable Energy Development - Wind power installed capacity in Inner Mongolia has surpassed 10 million kilowatts, with an annual addition of 35 million kilowatts, bringing the cumulative installed capacity to over 170 million kilowatts and generating 270 billion kilowatt-hours, ranking first in the nation for ten consecutive years [2] - The region has delivered 90 billion kilowatt-hours of green electricity externally, marking a year-on-year growth of over 40% [2] Group 4: Energy Storage and Hydrogen Production - Inner Mongolia has accelerated energy storage development through policy support, implementing a "discharge compensation" mechanism with compensation rates set at 0.35 yuan/kWh for 2025 and 0.28 yuan/kWh for 2026, with a cumulative new energy storage capacity exceeding 17 million kilowatts [3] - The green hydrogen production in Inner Mongolia is expected to exceed 10,000 tons by 2025, quadrupling the output from 2024, leading the nation in this sector [4] Group 5: Technological Innovation - By 2025, the proportion of green and intelligent coal mines in production will reach 61% and 74%, respectively, with ten technological equipment in hydrogen energy, energy storage, and new power systems recognized as major national first sets [4] - Seven projects have been selected as national pilot projects in the hydrogen energy sector, the highest number in the country [4]