Core Viewpoint - The establishment of the "1+6" foundational rule system is a significant milestone in the reform of the electricity market, providing a unified institutional framework for nationwide electricity resource circulation [1][4]. Group 1: Importance of Unified Market Rules - The unified foundational rule system is essential for the construction of a national unified electricity market, aligning with the central government's directives for a high-efficiency, fair, and open market [2][3]. - Market rules are fundamental for the orderly operation of the market, and a unified system is necessary for optimizing the allocation of electricity resources across the country [2][3]. Group 2: Achievements of the "1+6" Rule System - The "1+6" rule system has transitioned from a fragmented set of rules to a comprehensive framework, establishing a clear structure for market operations [4][5]. - The system promotes a unified approach to market access, allowing for streamlined registration processes and reducing regional discrepancies [4][5]. - It facilitates the transition of electricity resources from local circulation to national flow, enhancing efficiency in resource allocation across provinces [5][6]. Group 3: Innovations in the "1+6" System - The most innovative aspect of the "1+6" system is its deep integration with China's multi-layered electricity market structure, ensuring both uniformity and local adaptability [7][8]. - The foundational rules guide the overall direction, while the main rules define the functions of various market segments, creating a cohesive governance model for the electricity market [8].

Core Viewpoint - The issuance of the "Basic Rules for Electricity Market Measurement and Settlement" by the National Development and Reform Commission and the National Energy Administration marks a significant milestone in the reform of the electricity market in China, establishing a foundational rule system for a unified national electricity market [2][4]. Group 1: Overview of the New Rules - The new foundational rule system, referred to as "1+6", includes the "Basic Rules for Electricity Market Operation" as the core, supported by rules for medium- and long-term trading, spot trading, auxiliary services, information disclosure, access registration, and measurement and settlement [2][4]. - The establishment of a unified electricity market rule system is essential for implementing major decisions from the central government and for creating a high-efficiency, fair, and open national market [2][3]. Group 2: Historical Context and Development - Since the initiation of the new round of electricity system reform, China has undergone various pilot programs, including large user direct electricity purchases and auxiliary service market trials, leading to a gradual nationwide rollout of different market types [2][3]. - The development of the electricity market has included the establishment of the "Basic Rules for Medium- and Long-Term Electricity Trading" in 2016 and 2020, and the "Basic Rules for Spot Electricity Market (Trial)" in 2023, laying a solid foundation for the healthy development of the medium- and long-term market [3][4]. Group 3: Key Components of the Rule System - The "Basic Rules for Electricity Market Operation" define participant roles, responsibilities, trading processes, price formation, and risk prevention, serving as the core engine for market stability and real-time supply-demand reflection [5]. - The rules for registration management, information disclosure, and measurement and settlement function as the market's "identity card," "account book," and "calculator," ensuring fairness, transparency, and efficiency in market operations [5]. Group 4: Future Directions - As the new electricity system and market construction deepen, the National Energy Administration will continue to enhance the "1+N" foundational rule system, aiming to break down market segmentation and inter-provincial barriers, facilitating efficient coordination among various market types [5].

Core Viewpoint - The issuance of the "Basic Rules for Electricity Market Measurement and Settlement" by the National Development and Reform Commission and the National Energy Administration marks a significant milestone in the reform of China's electricity market, establishing a foundational rule system for a unified national electricity market [1][2][3]. Group 1: Rule System Development - A unified electricity market rule system is essential for implementing major decisions from the central government and for building an efficient, fair, and open national market [1][2]. - The new foundational rule system, referred to as "1+6", includes the "Basic Rules for Electricity Market Operation" and covers various market segments such as medium- and long-term trading, spot trading, and ancillary services [1][3]. - The establishment of this rule system addresses issues such as fragmented market rules, inter-provincial barriers, and the need for effective protection of market participants' interests [1][3]. Group 2: Historical Context and Progress - The electricity market reform has evolved through pilot programs since 2016, leading to the gradual establishment of various market types across the country [1][2]. - The "Basic Rules for Medium- and Long-Term Trading" and the "Basic Rules for Spot Market (Trial)" were previously established to support the healthy development of the electricity market [2][3]. - The recent issuance of the "Basic Rules for Electricity Market Measurement and Settlement" fills the last gap in the "1+6" foundational rule system, ensuring comprehensive regulation of market operations [3][4]. Group 3: Market Functionality and Future Directions - The "Basic Rules for Electricity Market Operation" define participant roles, responsibilities, pricing mechanisms, and risk prevention strategies, serving as the core engine for market stability [4]. - The rules for registration, information disclosure, and measurement settlement function as the market's "identity card," "account book," and "calculator," ensuring fairness and transparency [4]. - The National Energy Administration plans to continuously improve the "1+N" foundational rule system to enhance coordination among various market types, including green electricity trading and ancillary services [4].

Core Viewpoint - The article discusses the recent record-high electricity load in China's power grid and the implementation of a new cross-regional electricity trading mechanism to ensure supply stability and optimize resource allocation across different regions [3][19][20]. Group 1: Electricity Load and Supply - From August 4 to 6, the national grid's electricity load reached a historical high of 12.33 billion kilowatts, equivalent to the output of over 50 Three Gorges power stations [3][19]. - In Hefei, the electricity load exceeded last year's peak value more than ten times since July, indicating a high operational state of the grid [3][19]. - The Southern Power Grid has also contributed to maintaining stable electricity supply, especially during peak demand periods [20][21]. Group 2: Cross-Regional Electricity Trading Mechanism - The National Development and Reform Commission and the National Energy Administration issued a plan to break the segmentation of electricity markets between the State Grid and Southern Grid, enabling mutual support across the national power system [20][24]. - A joint electricity trading initiative between Beijing and Guangzhou trading centers facilitated the transfer of over 20 billion kilowatt-hours of electricity from Southern regions to Eastern regions, benefiting approximately 800,000 households [20][21]. - The new trading mechanism is expected to enhance market competition and ensure electricity supply during critical periods [21][24]. Group 3: Challenges and Solutions - Previous electricity trading between the two grids was limited due to a lack of a standardized market mechanism, relying mainly on government agreements and emergency dispatch [23][24]. - The complexity of organizing cross-regional trading requires precise assessments of supply and demand, as well as efficient coordination between trading platforms [23][24]. - The implementation of detailed business process guidelines for cross-regional trading aims to improve participation and reduce transaction costs for market players [23][24].

这是我国深化电力体制改革、加快建设全国统一电力市场进程中具有里程碑意义的关键一步。"从最基 础的计量与结算环节着手，致力于构建统一、规范、透明、高效的制度体系和技术基础，为电力资源的 全国范围内自由流动和优化配置铺平道路。" 我国的电力市场有了统一的"度量衡"。 8月6日，国家发展改革委、国家能源局联合印发的《电力市场计量结算基本规则》（以下简称《规 则》）对外公布，围绕电力市场经营主体电能量、功率等数据的测量、记录以及提供相关数据的行为进 行了规范，同时对电力交易机构的结算服务、电网企业电费收付等作出了统一要求。 这是全国统一电力市场基础规则体系建设的重要一环。自2015年新一轮电力体制改革以来，"管住中 间、放开两头"的电力行业格局基本形成，我国实现了从"计划电"到"市场电"的重大转型，电力中长 期、辅助服务、现货等各种市场品类逐渐走向全国。 "但随着煤电、新能源、工商业用户全面参与电力市场，各地计量管理要求不规范、单位不统一、流程 衔接不顺畅、电网企业与交易机构职责界面不明确、电费结算不及时等问题逐渐凸显，亟须国家层面统 一规范。"国家能源局市场监管司有关负责人在接受记者采访时说。 统一规范的市场"语言 ...

Core Viewpoint - The establishment of a national unified electricity market marks a significant historical transition in China's electricity market reform, moving from regional fragmentation to a nationally standardized operation [1][3]. Group 1: Market Structure and Rules - The national unified electricity market is a crucial component of the broader national unified market, providing essential practices for its construction [1]. - The "1+6" basic rule system has been preliminarily established, marking a milestone in the reform of the electricity market [2]. - The basic rules of electricity market operation serve as the foundation, with long-term, spot, and ancillary service rules forming the core, supported by disclosure, registration, and settlement rules [3]. Group 2: Market Activity and Growth - In the first half of the year, the national market trading electricity volume reached 2.95 trillion kilowatt-hours, with cross-regional trading increasing by 18.2% year-on-year [4]. - The electricity spot market is achieving significant breakthroughs, with the National Development and Reform Commission indicating that it will soon achieve near-complete coverage [5]. - By the end of 2024, the number of market participants is expected to rise to 816,000, reflecting an 8.9% year-on-year increase [6]. Group 3: Green Energy and Future Outlook - The national green certificate trading volume is projected to reach 446 million units in 2024, a staggering increase of 364% year-on-year [7]. - By 2030, the scale of market-based electricity trading in China is expected to exceed 10 trillion kilowatt-hours, with the proportion of renewable energy participation rising from 30% to over 80% [8]. - Future regulatory guidelines will continue to enhance the basic rule system of the national unified electricity market, ensuring efficient coordination among various market categories [8].

Core Viewpoint - The "1+6" foundational rule system is recognized as a key institutional breakthrough in China's electricity market reform, integrating national strategies for carbon neutrality, unified market construction, and new power system development [1][2][3]. Summary by Relevant Sections Milestone Significance - The establishment of the "1+6" foundational rule system marks a transition from fragmented exploration to a standardized design in the national electricity market, creating a comprehensive and systematic rule framework [2][3]. - It connects the "dual carbon" goals, the construction of a unified national market, and the development of a new power system at the institutional level, facilitating the integration of renewable energy into market transactions [3]. Institutional Support for Reform - The "1" in the "1+6" system refers to the "Basic Rules for Electricity Market Operation," which outlines the core operational mechanisms for a unified national electricity market [4]. - The "6" represents six supporting rules that include trading categories such as medium-long term, spot, and ancillary services, ensuring a structured trading system [4][5]. - The system enhances market transparency and efficiency through defined trading types, methods, and price formation mechanisms [5][6]. Balancing Uniformity and Local Flexibility - The "1+6" system is a result of years of local practice and top-level design, aiming to balance the need for a unified national framework with the flexibility required by local conditions [7][8]. - Local adaptations of the rules allow regions to tailor the framework to their specific energy resources and market demands, fostering innovation while maintaining overall consistency [8][9].

Core Insights - The Southern Regional Electricity Market has officially transitioned to continuous settlement trial operation after 35 months of preparation and 12 rounds of short-term testing, allowing for daily trading and cross-province electricity transactions [1][2] - The expected average daily trading volume is projected to reach 3.8 billion kilowatt-hours, enhancing the market's role in electricity resource allocation and establishing a new mechanism for energy supply and optimization [1] - The market has become the first multi-province, all-participant, unified clearing spot market in China, marking a significant milestone in the national unified electricity market and a major institutional and platform innovation [1][2] Market Participation and Structure - The Southern Regional Electricity Market covers Guangdong, Guangxi, Yunnan, Guizhou, and Hainan, with over 220,000 registered market participants, including various types of power generation sources and electricity users [2] - On the day of the continuous settlement trial launch, more than 831 power plants and over 700 users participated, with a reported electricity volume of 2.2 billion kilowatt-hours, including contributions from 501 renewable energy stations [2] - The market has achieved over 70% of electricity traded through market mechanisms, facilitating greater freedom of electricity resource flow across the country [2] Market Mechanism and Efficiency - The market has established a competitive bidding mechanism for different provinces and types of power generation, promoting fairness and efficiency [3] - Utilizing domestically developed technology, the market supports over 6,000 model nodes and more than 1.2 million clearing variables for efficient calculations [3] - The transition to continuous settlement is expected to provide more accurate and stable price signals, enhancing decision-making for market participants and optimizing social benefits [3]

Core Viewpoint - The introduction of the "Basic Rules for Electricity Market Measurement and Settlement" marks a significant step towards establishing a unified national electricity market in China, aiming to standardize and enhance the transparency of measurement and settlement processes [3][5]. Summary by Sections Background and Significance - The need for reform in the electricity market's measurement and settlement processes has become critical due to existing issues such as inconsistent rules across provinces, lack of data transparency, and varying settlement cycles, which hinder efficient resource allocation [6]. - The issuance of the rules aligns with national policies aimed at breaking local protectionism and promoting efficient resource flow, thus providing a necessary institutional guarantee for market transactions [6]. Key Components of the Rules - The rules cover measurement management, settlement management, and supervision management, defining the scope of measurement and settlement to include all types of electricity market transactions, including virtual power plants and new energy storage [4]. - The settlement process is divided into three stages: preparation, basis compilation, and electricity fee settlement, with an emphasis on transparency and the prohibition of "imbalance funds" [4]. Importance of the Rules - The rules establish a standardized framework that reduces cross-provincial transaction costs and enhances market efficiency by promoting a "daily clearing and monthly settlement" model in regions with continuous spot market operations [11]. - By ensuring transparency in settlement processes and reinforcing risk prevention measures, the rules protect the legitimate rights and interests of market participants, thereby increasing market confidence and attracting more investment [12]. Digital Transformation and New Energy System Support - The rules support the digital transformation of the electricity market by requiring the establishment of a unified data platform for automatic data collection and interaction, paving the way for future applications of technologies like blockchain and smart contracts [13]. - By including new entities such as virtual power plants and new energy storage in the settlement system, the rules facilitate their participation in auxiliary services and capacity markets, thus supporting the construction of a new energy system [14]. Challenges Ahead - Despite the establishment of a unified framework, challenges remain, particularly regarding the insufficient data infrastructure needed to support the high-frequency settlement required by the rules [16]. - Issues such as inadequate coverage of distributed energy measurement devices, insufficient data collection frequency, and delays in data transmission networks need to be addressed to fully realize the potential of the new rules [16].

Core Viewpoint - The "1+6" foundational rule system marks a significant institutional breakthrough in the construction of a unified national electricity market in China, integrating the "dual carbon" goals, the establishment of a unified national market, and the construction of a new power system at the institutional level [3][4][5]. Summary by Sections Milestone Significance - The "1+6" foundational rule system represents a shift from fragmented exploration to standardized design in the national electricity market, establishing a comprehensive framework that includes core institutional frameworks such as market member responsibilities, transaction organization methods, pricing mechanisms, and risk prevention [4][5]. - It successfully connects the "dual carbon" goals, the unified national market, and the new power system, facilitating the participation of renewable energy in market transactions and promoting green and low-carbon energy transitions [5]. - The system establishes robust defenses for information disclosure, credit evaluation, risk warning, and intervention mechanisms, creating a fair and orderly market environment that enhances participant confidence [5]. Institutional Support for Reform - The "1" in the "1+6" system refers to the "Basic Rules for Electricity Market Operation," which outlines the core operational mechanisms of the unified national electricity market [6]. - The "6" includes three basic trading varieties: medium-to-long-term, spot, and ancillary services, which form the backbone of the electricity market trading system [7]. - The system clarifies trading varieties, methods, and pricing mechanisms, ensuring a fair and transparent trading environment [8]. Balancing Uniformity and Local Flexibility - The establishment of a unified national electricity market requires a set of universally applicable institutional frameworks while allowing for local adaptations based on regional resource endowments and electricity demand [9][10]. - Local practices and innovations have been integrated into the top-level design, creating a dynamic feedback loop that enhances both local and national market frameworks [9][10]. - Regions are permitted to make adaptive adjustments to the rule system based on their specific conditions, such as differentiated pricing policies and various trading methods [10][11].