Core Viewpoint - The recent issuance of the "Opinions on Improving the Market-oriented Allocation System for Resource and Environmental Factors" aims to enhance the efficiency of resource and environmental factor utilization through market mechanisms, promoting green and low-carbon development [2][4]. Summary by Relevant Sections Market Mechanisms and Goals - By 2027, the goal is to have a well-established trading system for carbon emissions rights, water rights, and pollution discharge rights, with a more active market for resource and environmental factors [3][4]. - The establishment of a national carbon emissions trading market and various pilot projects across multiple provinces indicates progress, although challenges remain in the market's maturity and regulatory framework [3][4]. Key Measures Proposed - The "Opinions" outline measures to improve the allocation system, focusing on quota distribution, transaction subjects, and transaction methods [5][6]. - Specific actions include enhancing the connection between trading systems and environmental management goals, expanding the coverage of carbon markets, and diversifying trading subjects and methods [6][7]. Capacity Building for Trading Markets - Effective operation of resource and environmental factor trading markets relies on accurate statistical accounting, standardized trading platforms, transparent information disclosure, and enforceable regulatory mechanisms [7]. - The "Opinions" emphasize the need for improved monitoring and accounting capabilities for carbon emissions, water usage, and pollutant discharge, alongside the development of legal frameworks and financial support systems [7].

Core Viewpoint - The energy revolution in China is reshaping the global energy landscape, driven by the dual goals of carbon neutrality and energy security, with significant implications for the power industry and its stakeholders [1]. Policy Breakthroughs - The National Development and Reform Commission and the Energy Administration have implemented key policies, including the "Basic Rules for Electricity Market Operation," which incorporates capacity pricing and ancillary service fees into the market pricing system [2]. - The establishment of a capacity pricing mechanism is seen as a critical driver for electricity market reform, with expectations that by 2025, market-based electricity trading will exceed 60% and green electricity trading will reach 1.2 trillion kilowatt-hours, equivalent to double Germany's annual electricity consumption [2]. Industry Restructuring - A major power giant is emerging with a 39% market share, surpassing the combined installed capacity of the US and EU by 1.2 times, and accounting for one-quarter of the national electricity consumption [5]. - The company has achieved breakthroughs in flexible direct current transmission technology and is expected to undertake 70% of the ultra-high voltage projects during the 14th Five-Year Plan [6]. - Significant capital movements are noted, with Morgan Stanley increasing its holdings for three consecutive quarters, and a leading insurance fund becoming the third-largest shareholder, while original shareholders have seen their holdings increase eightfold in value over three years [7]. New Energy Landscape - The share of wind and solar power installations has surpassed 40%, leading to the emergence of "energy storage system integrators" due to increasing challenges in energy consumption [8]. - The Southern Power Grid has initiated a significant investment in digital grid technology, with smart inspection robots and AI reducing fault location times from two hours to eight minutes [8]. - Virtual power plant trials in Jiangsu and Zhejiang have shown significant progress, aggregating over 5 million kilowatts of adjustable load, equivalent to the regulation capacity of a large thermal power plant [8]. Future Outlook - The energy revolution is expected to culminate in the creation of an "energy internet," where every building acts as a micro power plant and every electric vehicle serves as a mobile energy storage unit [10]. - Companies that successfully undergo digital transformation and master core technologies will dominate the trillion-dollar market, as today's installed capacity translates into tomorrow's pricing power [10].

报告摘要 （一）改革领域 ： 涉及中国特色现代企业制度、资源环境要素市场化改革、降费、国企技能人才薪酬 改革等。 1 ） 5 月 27 日 ， 中办 国办关于完善中国特色现代企业制度的意见。提出经过 5 年左右， 推动具备条件的企业普遍建立适合国情、符合实际、满足发展需要的中国特色现代企业制度，企业党 的建设全面加强等目标。 2 ） 5 月 29 日 ， 中办 国办印发《关于健全资源环境要素市场化配置体系 的意见》，提出"到 2027 年，碳排放权、用水权交易制度基本完善，排污权交易制度建立健全，节能 市场化机制更加健全"。 3 ） 5 月 30 日 ，国家发改委印发《关于进一步降低征信服务收费标准的通 知》，大幅下调征信服务收费标准，预计每年可为用户节省成本支出约 11 亿元。 4 ） 6 月 1 日 ， 人社部 财政部 国资委关于加大国有企业技能人才薪酬分配激励的通知，提出"按照一般不低于相应职 级管理岗位的薪酬标准科学确定技能岗位薪级档次"，"善技能人才工资增长机制，集团公司加大工资 总额分配向技能人才倾斜力度"。 本周，改革和开放相关举措密集落地，具体来看： （二）开放领域：涉及区域自贸协定及免签政策 ...

插播 ：中国能建广东省电力设计研究院、联盛新能源、融和元储、弘正储能、精控能源、南瑞继保、永泰数能、华友能源、汇能科技、厦门国贸、永光新能源等工商 储主流参与方将汇聚6月10日的"2025年全球用户侧储能产业价值峰会暨应用示范展"，点击" 阅读原文 "了解详情 6月，作为年中的关键节点，正成为工商业储能从规模竞争到价值竞争转型的战略转折点。 6月1日，在新能源项目上网电量全部入市，分布式光伏的收益逻辑彻底改写、储能走上收益C位的同时，中国新型储能产业也正式告别强配储时 代，进入市场化驱动的新阶段。 6月1日，作为2024年底工商业储能装机第一大省的江苏分时电价新政正式实施， 峰谷价差收窄直接冲击工商业储能传统峰谷套利逻辑， 而这作为 电力系统全面市场化改革的缩影，将在全国掀起工商业分时电价规则的革新浪潮。 随着新政正式落地，低质低价竞争策略失效，工商业储能赛道正式进入"拼解决方案、比服务、重运营"的下半场角逐，在这场生死突围战中，企业 如何构建新的竞争壁垒？天合光能等光储龙头已率先锚定破局方向。 ■ 下半场运营之战，抢占价值链高地 6月1日新政密集落地不是终点，而是储能行业蜕变的起点。 天合光能指出，电力市场 ...

每经记者｜朱成祥 每经编辑｜文多 6月2日晚间，林洋能源（SH601222）公告称，拟将旗下5家公司的100%股权转让给广东粤水电能源投资集团有限公司（以下简称"粤水电能源集团"），合计 对价约4.71亿元，涉及的光伏电站装机容量合计236.5MW（兆瓦）。 据悉，标的资产的净资产账面值约4.71亿元，评估价值合计约4.84亿元，增值率约2.85%。 前期已建成的光伏电站回款周期较长 对于本次出售计划，林洋能源先是表示，公司新能源板块长期战略调整至建设平价电站和优质储能电站，本次转让项目回笼资金将用于支持和保障长期战略 规划调整。除此外，还有其他原因。 林洋能源拟出售光伏电站资产的当下，正值"5·31"节点刚过，新能源入网价格将正式按照市场化定价。那么，林洋能源为何计划出售这些因节点前已建好而 收益确定性较强的光伏电站资产？ 标的资产状况良好 当下，光伏行业最为瞩目的当属"5·31"节点。根据国家发展改革委、国家能源局发布的《关于深化新能源上网电价市场化改革 促进新能源高质量发展的通 知》，新能源入网定价新老划断，2025年6月1日以前投产的存量项目，通过开展差价结算，实现电价等与现行政策妥善衔接。 而202 ...

科学适度的规模和节奏是保障抽水蓄能行业健康发展的关键。今年正式施行的《中华人民共和国能源 法》提出，国家合理布局、积极有序开发建设抽水蓄能电站。为保障2035年抽水蓄能发展需求，赵增海 建议，对各省2024年至2028年布局优化调整方案实施情况，研究建立定期调度机制，对于实施确实存在 困难的项目，及时进行核准计划调整，确保方案有序实施。 我国抽水蓄能站点资源禀赋得天独厚。报告显示，综合考虑地理位置、地形地质、水源条件、水库淹 没、环境影响、工程技术及初步经济性等因素，全国共普查筛选资源站点总规模约16亿千瓦。全国绝大 部分省份均有抽水蓄能站点资源。 在我国深入推进电力市场化改革的背景下，广东省、山东省等地区已率先开展抽水蓄能参与电力市场交 易试点，抽水蓄能市场化运营机制成为各方关注的重点。 "当前，电力现货市场逐步完善，辅助服务市场正在起步，容量市场尚未建立，抽水蓄能全面参与电力 市场仍面临一些挑战，需要结合全国电力市场改革稳步有序实施。"赵增海建议，坚持安全与发展并重 原则，选择典型区域开展差异化试点，同步完善市场机制设计，提升主体市场运营能力，统筹规划调度 运营，建立动态评估优化机制，通过试点经验总结和市 ...

Core Viewpoint - The transition to a market-oriented pricing mechanism for renewable energy in China is expected to enhance market efficiency and promote a low-carbon transformation in the energy sector [1][2][3]. Group 1: Market Changes and Growth - From June 1, 2024, all renewable energy projects' grid-connected electricity will enter the electricity market, with prices determined through market transactions [1]. - In 2024, China's total electricity generation is projected to exceed 10 trillion kilowatt-hours, with wind and solar power generation significantly increasing [2]. - Wind power generation is expected to rise from 885.87 billion kilowatt-hours in 2023 to 997.04 billion kilowatt-hours in 2024, while solar power generation is anticipated to surge from 584.15 billion kilowatt-hours to 839.04 billion kilowatt-hours [2]. Group 2: Market Structure and Competition - The number of registered trading participants has increased from 42,000 in 2016 to 816,000 in 2024, indicating a significant rise in market participation [3]. - The proportion of market-based electricity transactions has grown from 17% in 2016 to 63% in 2024, with cross-regional transactions reaching 1.4 trillion kilowatt-hours [3]. - The new regulations implemented on June 1 are seen as a critical step in the reform of the electricity market, allowing renewable energy to participate in market competition [3][4]. Group 3: Pricing Mechanism and Investment Logic - A flexible pricing mechanism is being established to match the growing electricity demand with supply, enhancing the system's adjustment capabilities [4][5]. - The rapid advancement of marketization is reshaping the investment logic in the energy sector, with power generation companies no longer relying on government subsidies [5][6]. - The market now includes various trading methods, such as long-term contracts and spot trading, which help restore the commodity nature of electricity [7]. Group 4: Challenges and Future Outlook - The transition to market-based pricing introduces uncertainties for renewable energy pricing, with companies needing to adapt to competitive pressures [8]. - The marketization of electricity pricing is expected to drive companies to innovate in technology, operational models, and trading strategies [9]. - The ongoing reforms aim to create a clean, low-carbon, and efficient modern energy system, with a focus on optimizing resource allocation [10].

从功率预测市场需求高增切入看新能源入市的投资机遇 20250602 摘要 新能源入市加速电力市场化改革，尽管市场对推进节奏存在分歧，但当 前供给宽松为改革提供了良好契机，对新能源入市持乐观态度。 新能源全面入市后，新增装机速度将放缓，投资逻辑需转向存量装机运 营。关注细分市场扩张及电力市场运营中的壁垒环节，尤其是在长尾市 场分散主体聚合交易中可能出现的渠道壁垒。 功率预测的重要性由政策驱动转向价值驱动，客户群体扩展至电力市场 交易主体，预测精度直接影响交易价值，高精度预测提升头部供应商市 场份额，并可拓展至电力交易增值服务。 电价预测基于供需平衡，功率预测为其提供服务。市场化后，功率预测 覆盖范围从单个电站扩展至省级区域，下游群体转变为需要电价预测的 电力交易主体，包括发电企业、直接供电企业和售电公司。 现货市场铺开及新能源出力不确定性增加，中长期交易占比高，但短期 月内交易占比将显著提升，以更灵活反映供需，优化资源配置。电价波 动性随新能源占比提升而增大，推动区域功率预测产品需求增长。 Q&A 2025 年电力行业的重大变化是什么？ 2025 年电力行业的重大变化是新能源全面进入电力市场。自 2025 年 ...

Core Viewpoint - The Chinese government has issued an opinion to enhance the market-oriented allocation system for resource and environmental factors, aiming for a comprehensive trading system for carbon emissions, water rights, and pollution rights by 2027, which will support the achievement of related environmental goals [1][2]. Group 1: Carbon Emission Trading - The opinion emphasizes the transition of the national carbon emission trading market from intensity control to total quota control, enhancing the connection between carbon emission rights trading and carbon emission control systems [2]. - The carbon emission trading market currently covers approximately 40% of national CO2 emissions from the power generation sector, and with the inclusion of steel, cement, and aluminum industries, this coverage will exceed 60% [3]. - The distribution system for carbon emission quotas is identified as fundamental for all trading systems, necessitating improvements in the allocation methods to ensure scientific validity [3]. Group 2: Water Rights and Pollution Rights - The opinion outlines the need for strict dual control of total water usage and intensity, promoting the integration of water rights trading and water resource management systems [2]. - A pollution rights trading system will be established based on pollution permits, which will serve as the basis for rights confirmation and regulatory oversight [2]. Group 3: Market Mechanisms and Data Sharing - The opinion calls for the integration of carbon emission rights, water rights, and pollution rights trading into a public resource trading platform, facilitating data sharing and enhancing market efficiency [5]. - A reserve adjustment system for resource and environmental factors will be established to manage supply and demand effectively, including mechanisms for quota management [6]. Group 4: Implementation and Evaluation - The National Development and Reform Commission will oversee the implementation of the opinion, ensuring that local and national markets are aligned and that reforms are effectively executed [6].

（文章来源：经济日报） 北京市发展改革委体改处处长郝婧说，《工作要点》聚焦数据、资本、技术等要素市场制度建设问题， 提出深化要素市场化配置综合改革的一揽子措施。今年，北京将重点培育全国一体化数据市场，开展数 据基础制度先行先试，实行全市公共数据统一目录管理。同时，北京还将积极争取建设全国性技术交易 服务平台，推动北京绿色交易所建立健全配额管理、交易监管、核查核证等机制，形成一批标志性"北 京规则"。 建设全国统一大市场，京津冀要协力以区域市场一体化形成示范突破。根据《工作要点》，京津冀三地 将聚焦政务服务合作、信用监管联动、跨境贸易协同三方面实现率先突破。今年三地将出台京津冀互认 资质资格场景化应用文件，实现20项以上互认资质资格统一规范办理或"亮证即办"，探索将更多京津冀 区域通办事项纳入"一网通办"专区。 下一步，北京将推动《工作要点》与"十四五"规划任务同步实现圆满收官，助力建设全国统一大市场。 本报北京6月1日讯（记者杨学聪、韩秉志）近日，北京市印发《贯彻落实加快建设全国统一大市场意见 实施方案2025年工作要点》，注重解决群众和经营主体反映迫切的痛点堵点，形成同向推动改革发展的 政策集成。 北京市发 ...