Xin Lang Cai Jing·2025-12-19 12:44Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have issued a notice to enhance the signing and performance of medium- and long-term electricity contracts for 2026 through four key measures, aiming to ensure effective implementation and quality of these contracts [22][25]. Group 1: Contract Signing Requirements - The total signed electricity volume for medium- and long-term contracts by coal-fired power enterprises in each province should not be less than 70% of the actual online electricity volume from the previous year, with monthly contract signing volumes not less than 80% of the expected market-based online electricity volume [10][26]. - The electricity consumption side must ensure that the monthly contract signing volume is not less than 80% of the expected electricity consumption [2][27]. - For cross-provincial and cross-regional contracts, there should be clear arrangements for supporting renewable energy in transmission projects, encouraging green electricity trading to fulfill priority generation plans [3][28]. Group 2: Quality Improvement Measures - There should be a mechanism for time-segmented and curve-based signing in annual electricity medium- and long-term transactions, with at least 24 trading periods in regions where the electricity spot market is operational [5][28]. - The pricing mechanism for medium- and long-term electricity contracts should be flexible, allowing for adjustments based on market supply and demand, and not mandating fixed prices [6][29]. - A balance management system for electricity supply and demand should be established to avoid significant discrepancies in electricity volume across trading periods [12][29]. Group 3: Efficient Contract Performance - Continuous and flexible trading of medium- and long-term contracts within provinces should be promoted, considering the characteristics of renewable energy generation and load [8][30]. - The quality of cross-provincial and cross-regional medium- and long-term transactions should be improved by enhancing trading frequency and optimizing transaction organization [14][30]. - Monitoring of medium- and long-term trading behaviors should be strengthened to prevent market manipulation and ensure compliance with regulations [15][31]. Group 4: Contract Assurance Mechanism - A mechanism to promote high-quality signing and performance of medium- and long-term contracts should be established, ensuring compliance with policy requirements [16][32]. - The priority generation plan for cross-provincial and cross-regional electricity should be effectively implemented, ensuring that annual delivery needs are met [17][33]. Group 5: Timeline - Local government departments and the National Energy Administration should complete the necessary preparations for the medium- and long-term electricity market by December 10, 2025, and finalize cross-provincial contract signing by December 25, 2025 [18][34].