National Grid(US:NGG) 国家能源局·2025-08-01 09:11Core Viewpoint - The national electricity market in China has shown significant growth and development in the first half of the year, with a focus on enhancing the unified electricity market and achieving new milestones in various aspects of market operations [3][4]. Group 1: Market Growth and Performance - As of June 30, the number of market participants in the national electricity market reached 973,000, representing a year-on-year increase of 23.8% [3]. - The total market transaction volume for electricity reached 2.95 trillion kilowatt-hours, reflecting a year-on-year growth of 4.8% [3]. - In the State Grid operating area, the market transaction volume was 2.27 trillion kilowatt-hours, up 3.3% year-on-year, while the Southern Grid area saw a transaction volume of 523.8 billion kilowatt-hours, increasing by 14.2% [3]. Group 2: New Developments in Market Mechanisms - A breakthrough in the cross-regional electricity trading mechanism has been achieved, with the establishment of a collaborative working mechanism by the National Development and Reform Commission and the National Energy Administration [4]. - The Southern regional electricity market successfully transitioned to continuous settlement trial operation, marking a significant step in optimizing multi-provincial electricity resource allocation [4]. - The provincial-level electricity spot market construction has accelerated, with several regions, including Inner Mongolia and Hubei, transitioning to formal operation after successful trial runs [4]. Group 3: Foundation Rules and Regulations - The National Development and Reform Commission and the National Energy Administration have jointly issued basic rules for the electricity auxiliary service market and the electricity market measurement and settlement, marking the initial completion of the "1+6" foundational rule system for the unified electricity market [5].