筑牢电源规模化 发展根基

Core Viewpoint - The recent policy notification establishes a reliable capacity compensation mechanism, addressing the need for stable revenue channels for various power sources, which is crucial for energy security and achieving carbon neutrality goals in China [1][2]. Group 1: Policy Overview - The notification introduces a three-phase development plan for capacity pricing in China's power generation sector: government pricing, capacity compensation, and capacity market [2]. - The new policy aims to optimize existing capacity pricing for coal, gas, and pumped storage while establishing a unified capacity pricing standard for new energy storage [2][3]. Group 2: New Energy Storage - New energy storage is positioned as the biggest beneficiary of the capacity mechanism, with its capacity pricing linked to peak load support capabilities [3][4]. - The policy clarifies that independent new energy storage systems not participating in grid storage can receive capacity price support, marking a significant recognition of their value [3][4]. Group 3: Pumped Storage - The policy provides a transitional arrangement for pumped storage, allowing for differentiated treatment based on project timelines and investment characteristics [5][6]. - It ensures that existing projects under previous pricing mechanisms can continue to receive reasonable returns, while new projects will have their capacity prices set based on average costs over 3-5 years [5][6]. Group 4: Market Integration - The notification addresses the need for uniform standards in charging and discharging prices for energy storage, promoting a more coherent market structure [7][8]. - It emphasizes the importance of regional collaboration in shared pumped storage projects, establishing clear guidelines for capacity cost sharing among provinces [8]. Group 5: Economic Viability - The policy supports the economic viability of new energy storage by linking capacity pricing to actual contributions to peak load support, thus enhancing revenue predictability [4][5]. - The investment cost for new energy storage systems has significantly decreased, making them commercially viable under the new capacity pricing framework [4].