人民财讯12月12日电，华泰证券指出，全国统一电力市场建设加速推进，预计"十五五"期间电网投资有 望达到4万亿元以上，相比于"十四五"期间电网投资2.8万亿元显著提升。其中，主网建设助力全国电网 网架实现互联互通，是全国统一电力大市场搭建的重要支撑，华泰证券认为仍将是重点建设方向。 ...

近日， 国家 发展 改革委、 国家能源局 发布 《 关于优化集中式新能源发电企业市场报价的通知（试行） 》 （ 发改 能源 〔 2025 〕 1 476 号 ， 以下简称《 通知 》）。国家 能源局 有关负责同志就 此 接受 了 记者 采访 。 问： 《 通知 》 印发的背景和目的是什么？ 答： 随着全国统一电力 市场 加速 推进和 《 国家发展改革委 国家能源局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》（发改价格〔 2025 〕 136 号） 出台，新能源 发电企业 开始全面参与电力市场交易。 相较于传统 火电厂， 新能源场站规模较小、布局分散、位置偏远、人员配置少，客观上难以 满足 独立报价 的技术和人力资源要求 。 去年以来，发电企业通过多种渠道向我们反映了有关诉求， 希望适度放开集中式新能源集中报价限制 ， 更好 适应 新 能 源 全面 入市 要求 。 为适应新形势新变化， 我们 借鉴国外成熟电力市场经验， 结合 国内 电力市场 实际， 研究起草了《通知》 ， 探索推进 集中式新能源发电企业报价方式优化调整。 《通知》 在遵循电力市场运行基本规则、不新增经营主体等前提下，逐步放开 ...

近日，青海电力交易中心与北京电力交易中心、吉林电力交易中心"三网"联动，共同达成跨省跨区中长 期外送电力交易，累计交易电量1876万千瓦时。 青海冬季日落时间较晚，每日16时至17时光照资源依然充沛，光伏发电出力保持高位。而东北地区日落 较早，此时正值用电晚高峰。此次交易正是利用天然的时空互补特性，借助全国互联电网，成功将西北 的"阳光资源"精准衔接东北的夜间电力供应。这是全国统一电力市场高质量发展的有益实践，进一步扩 大了青海新能源在全国范围的优化配置，青海电力中长期外送范围扩展至22个省（区、市）。 ...

规则统一为全国统一电力市场立"通用语言" 构建全国统一电力市场的重点，在于"规则统一"。今年以来，南方电网提出"经营区内耦合、跨经营区 联合"的全国统一电力市场目标形态，与国家电网共同编制《跨电网经营区常态化电力交易机制方案》 并获国家发展改革委、国家能源局正式批复，标志着全国统一电力市场联通机制全面达成，为电力资源 跨区域高效流动按下"加速键"。 南方电网扛起探路之责，构建"1+N+5X"分层规则体系，用通用细则规范跨省交易，靠省内配套兼顾地 方禀赋，打造电力市场的"通用语言"。技术创新为规则落地赋能增效。南方电网自主研发全国产化"天 权"求解器，支撑超6000个电网节点、超230万项出清变量的高效计算，夯实市场底层技术支撑。这 套"规则+技术"的双重保障，为全国统一大市场规则衔接提供了可复制、可推广的经验。 党的二十届四中全会提出，建设强大国内市场，加快构建新发展格局。新一轮电力体制改革以来，经过 10年的探索实践，全国统一电力市场体系初步建成。南方电网以"先行探路者"的担当，从机制创新到通 道互联，从生态培育到经验输出，将南方电力市场建设深度融入全国统一大市场，为全国统一电力市场 建设提供"南方样本"， ...

（责任编辑：董萍萍 ） 电网ETF（561380）跟踪的是恒生A股电网设备指数（HSCAUPG），该指数从A股市场中选取主营 业务涉及电力网络建设及技术升级领域的上市公司证券作为指数样本，具有鲜明的行业代表性和专业聚 焦特征。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 华泰证券指出，输配电定价四大文件修订版发布，重点围绕新能源消纳、电力系统安全及电网管理 效能优化，推动政策体系"从优到精"，对新型电力系统和全国统一电力市场建设意义重大。新规从准许 收益、准许成本、收入结构三方面调整：1）准许收益方面，明确按集团合并口径平均融资利率核定， 贷款利率下降有望传导至用户端；2）准许成本保持严格管控，但采用"费率"替代"费用绝对值"控制， 更适应资产扩张需求，成本或小幅提升；3）收入结构调整突出对清洁能源的支持，包括跨省跨区工程 探索容量制电价、新能源就近消纳实行单一容量制等，同时取消"点对网"与"网对网" ...

12月3日，电网ETF（561380）盘中涨超1%，近20日净流入超3亿元。 华泰证券指出，输配电定价四大文件修订版发布，重点围绕新能源消纳利用、电力系统安全运行及 电网管理效能提升作出新制度安排，将推动输配电价政策体系"从优到精"，对新型电力系统和全国统一 电力市场建设意义重大。新规从准许收益、准许成本、收入结构三方面优化。预计"十五五"期间电网投 资将超4万亿元，主网建设（尤其是跨省通道和西部电网补强）是重点方向，行业需求有望稳步增长。 每日经济新闻 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com （责任编辑：董萍萍 ） 电网ETF（561380）跟踪的是恒生A股电网设备指数（HSCAUPG），该指数从内地市场中选取收 入主要来源于电网设备相关业务的上市公司证券作为指数样本，以全面反映电网设备行业上市公司证券 的整体表现。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析 ...

Core Viewpoint - The training session organized by Shaanxi Investment Group aims to implement the national energy security strategy and support the province's energy industry transformation and upgrade [1][5]. Group 1: Training Objectives and Content - The training featured Dr. Zhu Zhizhong, an expert from the National Development and Reform Commission, who provided insights on the electricity market operating environment, production-sales coordination, investment strategies, trading logic, and technical practices [3][7]. - The session aimed to equip Shaanxi Investment Group with authoritative and practical policy interpretations and operational guidelines to better adapt to the new electricity system construction [3][7]. Group 2: Strategic Directions and Goals - The meeting emphasized the need to scientifically formulate the "14th Five-Year Plan," focusing on three main directions: expanding installed capacity, enhancing coal-electricity coordination, and transforming energy services [4][8]. - The group is encouraged to actively participate in market competition, adopting a new business philosophy centered on electricity marketing, ensuring safety in production, and controlling costs as a regulatory measure [4][8]. - The company aims to establish a comprehensive marketing model that prioritizes efficiency and maximizes overall benefits, while also enhancing its core competitiveness in the energy sector [4][8]. Group 3: Commitment to Energy Supply Security - The meeting highlighted the importance of fulfilling the group's responsibility for energy supply security, treating the stable supply of energy, electricity, and heat as a major political task [4][8]. - A multi-faceted supply guarantee system is to be constructed, integrating stable coal production, active thermal power generation, clean energy collaboration, and technological empowerment [4][8]. Group 4: Participation and Attendance - The training session was conducted in a hybrid format, with approximately 400 participants, including department heads and relevant personnel from the group headquarters and Shaanxi Energy and Hydropower [5][9].

本报北京11月25日电(记者廖睿灵)国家能源局25日发布的数据显示，今年1至10月，全国累计完成电力 市场交易电量54920亿千瓦时，同比增长7.9%，占全社会用电量比重63.7%，同比提高1.5个百分点。前 10月，绿电交易电量2627亿千瓦时，同比增长39.4%。 10月份，全国完成电力市场交易电量5638亿千瓦时，同比增长15.6%。从交易范围看，省内交易电量 4377亿千瓦时，同比增长15.4%；跨省跨区交易电量1261亿千瓦时，同比增长16.2%。从交易品种看， 中长期交易电量5231亿千瓦时；现货交易电量407亿千瓦时。绿电交易电量283亿千瓦时，同比增长 28.4%。 当前，全国统一电力市场加快建设，电力市场交易稳步推进。从交易范围看，前10月，省内交易电量 41659亿千瓦时，同比增长6.6%；跨省跨区交易电量13261亿千瓦时，同比增长12.5%。从交易品种看， 中长期交易电量52681亿千瓦时；现货交易电量2239亿千瓦时。 ...

Core Viewpoint - The article discusses the guidance issued by the National Development and Reform Commission and the National Energy Administration to promote the consumption and regulation of renewable energy, aiming to establish a multi-level renewable energy consumption and regulation system by 2030 and a new power system by 2035, supporting carbon peak and neutrality goals [1][7][8]. Group 1: Overall Requirements - By 2030, a collaborative and efficient multi-level renewable energy consumption and regulation system will be established, ensuring smooth grid connection and efficient operation of renewable energy, with new electricity demand primarily met by new renewable generation [7][8]. - By 2035, a new power system capable of accommodating a high proportion of renewable energy will be fundamentally established, optimizing the allocation and consumption of renewable energy nationwide [1][8]. Group 2: Classification Guidance for Renewable Energy Development and Consumption - The guidance emphasizes the coordinated development of "sand, desert, and wasteland" renewable energy bases, focusing on both external delivery and local consumption, particularly in arid regions [2][9]. - It advocates for the integrated development and consumption of hydropower and wind-solar bases, optimizing the configuration of renewable energy based on hydropower characteristics [2][9]. - The orderly development and consumption of offshore wind power will be promoted, with a focus on optimizing offshore transmission networks [2][9]. Group 3: New Models and Innovative Development of Renewable Energy Consumption - The article highlights the need for innovative integrated development models for renewable energy, supporting the establishment of an integrated industrial system in resource-rich areas [11]. - It encourages the fusion of renewable energy with traditional industries, promoting the transfer of high-energy industries to regions with clean energy advantages [12]. Group 4: Enhancing the Adaptability of the New Power System to Renewable Energy - The guidance calls for improving system regulation capabilities, including the construction of pumped storage power stations and advanced storage technologies [13][19]. - It emphasizes the need to enhance the grid's capacity to accept renewable energy, optimizing the national power flow and expanding the range of renewable resource allocation [13][19]. Group 5: Perfecting the National Unified Power Market System for Renewable Energy Consumption - The article discusses the expansion of a multi-level market system for renewable energy consumption, promoting flexible trading mechanisms and enhancing the role of the spot market [16][17]. - It suggests establishing a pricing mechanism that reflects the characteristics of renewable energy and encourages local consumption [17][18]. Group 6: Strengthening Technological Innovation Support for Renewable Energy Consumption - The guidance emphasizes breakthroughs in efficient renewable energy generation technologies, including low-cost solar and wind technologies [18]. - It highlights the importance of advancing grid operation technologies and intelligent control technologies to enhance the stability and efficiency of renewable energy integration [19]. Group 7: Assurance Measures - The article outlines the need for optimizing renewable energy consumption management mechanisms, setting regional utilization rate targets, and ensuring the effective implementation of consumption responsibilities [20][21]. - It stresses the importance of monitoring and regulatory measures to ensure the achievement of renewable energy consumption goals [21].

Core Insights - The establishment of cross-regional electricity spot trading between State Grid and Southern Grid marks a significant advancement in optimizing electricity resource allocation across provinces in China, transitioning into the "spot trading era" [1][2][5] Policy and Institutional Developments - The National Development and Reform Commission and the National Energy Administration have set a clear roadmap for achieving comprehensive coverage of the electricity spot market by the end of 2025, with specific provinces transitioning to formal operations [2][3] - The introduction of the "Electricity Market Measurement and Settlement Basic Rules" has standardized measurement units, data standards, and settlement processes, significantly enhancing trading efficiency [3][4] Market Performance and Statistics - From January to September 2025, the total electricity market trading volume reached 49,239 billion kilowatt-hours, a year-on-year increase of 7.2%, with cross-provincial trading volume at 11,950 billion kilowatt-hours, up 12.1% [3][4] - In Zhejiang, the inter-provincial spot electricity purchase reached 10.2 billion kilowatt-hours in 2024, a 44% increase year-on-year, with cost savings of 226 million yuan [4][6] Technological Innovations - The intelligent settlement system developed by the two major grids has achieved a transaction error rate of less than 0.03%, significantly improving the accuracy and efficiency of cross-regional trading [5][6] Impact on Businesses and Urban Development - The spot settlement mechanism has become a crucial tool for ensuring supply resilience, with significant contributions during peak demand periods, such as the response to Typhoon "Haikang" in 2025 [6][7] - The integration of green electricity trading with the spot settlement mechanism has led to a substantial increase in clean energy consumption in Zhejiang, reaching 42% [6][7] Future Directions - The ongoing refinement of the cross-regional spot settlement mechanism aims to enhance user participation and improve inter-regional data exchange efficiency, paving the way for a unified national electricity market [7]