专家解读丨继往开来，翘首电力市场建设新阶段

Core Viewpoint - The issuance of the "Guidelines for the Construction of Continuous Operation Areas of the Electricity Spot Market" marks a new phase in the standardization and normalization of China's electricity market construction, providing direction for the development of continuous settlement operations in the southern regional electricity market and other regions [2] Group 1: Optimization of Market Mechanisms - The guidelines unify the dual functions of ensuring safety and price discovery in the spot market, establishing a connection between reliability unit combinations and day-ahead market operations to facilitate market competition and system stability [2] - The guidelines support the full market entry of renewable energy by enhancing the reliability unit combination process, allowing for better management of the fluctuations in renewable energy [3] Group 2: User Participation in the Spot Market - Initial measures only included user declaration data in settlement to avoid significant discrepancies, but future guidelines require user-side participation in market declaration, clearing, and settlement by the end of 2025 [4] - The integration of user-side declarations into the market clearing process will enable a more balanced participation of both supply and demand sides, reflecting the price acceptance levels of different electricity demands [4] Group 3: Long-term Contracting and Pricing Mechanisms - The guidelines emphasize the importance of adjusting long-term contract signing ratios to align with spot market pricing, ensuring that the long-term energy market serves as a stabilizing force during the transition to a market-oriented system [5][6] Group 4: Auxiliary Services and Market Integration - The guidelines propose a phased integration of auxiliary services with the spot market to optimize overall costs while encouraging the establishment of market-based bidding mechanisms for auxiliary services [7] Group 5: Capacity Assessment and Compensation Mechanisms - The guidelines call for the establishment of reliable capacity assessment mechanisms to objectively reflect the contributions of various power sources to the system's capacity adequacy, alongside a dynamic capacity compensation pricing standard [8][9] Group 6: Retail Market Development - The guidelines provide a framework for the construction of a transparent retail market, emphasizing the need for online trading platforms to enhance competition and improve transaction efficiency [10][11] Group 7: Market Operation and Regulation - The guidelines highlight the importance of improving information disclosure mechanisms and standardizing market operation processes to enhance transparency and regulatory efficiency [12][14] - The guidelines advocate for innovative regulatory approaches using big data and AI to track market flows and identify potential manipulation risks [14]