National Grid(US:NGG) 国家能源局·2025-07-12 02:14Core Viewpoint - The establishment of a normalized electricity trading mechanism across grid operating areas is a significant step towards building a unified national electricity market, which will enhance resource allocation and break market segmentation [1][2]. Group 1: Mechanism Implementation - The National Development and Reform Commission and the National Energy Administration have mandated that the State Grid Corporation and the Southern Power Grid Company unify market rules, trading varieties, and trading timing by the end of this year [1]. - The previous lack of a normalized trading mechanism between the two grids limited the utilization of inter-grid channels and the effectiveness of mutual assistance [1]. Group 2: Market Dynamics - The new mechanism is likened to a nationwide "online electricity mall," facilitating smooth resource flow between the State Grid and Southern Grid under unified trading rules, thereby enhancing market competition and resource efficiency [2]. - A significant cross-operating area market-based electricity transaction occurred, where over 20 billion kilowatt-hours of electricity from Guangdong, Guangxi, and Yunnan were transmitted to Shanghai, Zhejiang, Anhui, and Fujian to support local summer electricity supply [2]. Group 3: Future Goals - The plan outlines short-term, medium-term, and long-term goals for cross-grid trading, aiming for normalized trading cycles this year, including annual, monthly, and spot trading [2]. - The focus will also be on organizing multi-directional green electricity transactions to meet the demand in key regions such as the Yangtze River Delta and the Greater Bay Area, while exploring long-term green electricity trading agreements [2]. Group 4: Technical Enhancements - Continuous improvement of cross-grid trading rules and strengthening of technical platform interconnectivity and information sharing are essential for achieving "one registration, nationwide sharing" for market participants [3].