Di Yi Cai Jing·2025-08-12 00:44Core Viewpoint - The report from CITIC Securities indicates that Shandong Province has officially issued Document No. 136, which aims to promote the full market entry of renewable energy and make adjustments to mechanisms such as the upper and lower limits of the spot market, as well as the integration of electric energy and ancillary services markets to accommodate the impact of renewable energy participation in market transactions [1] Group 1 - The establishment of a price difference settlement mechanism is expected to stabilize the profitability of existing projects that align with past guaranteed policies [1] - Incremental projects will be formed through bidding with a declared sufficiency rate set at 125%, which is anticipated to drive rational investment returns in the industry [1] - Industry leaders with advantages in resources, operations, and trading are expected to perform relatively well [1]