Core Viewpoint - The article discusses the issuance of the "Basic Rules for Electricity Market Measurement and Settlement" by the National Development and Reform Commission and the National Energy Administration, marking the first comprehensive regulation of electricity market measurement and settlement in China, effective from October 1, 2025, for a duration of five years [2]. Group 1: Measurement Data Management Standardization - The rules require market participants to have independent measurement conditions, with measurement devices meeting minimum settlement unit requirements and installed at property boundary points. Measurement data must comply with minimum settlement time and cycle requirements, and regular calibration of measurement devices is emphasized, along with clear cost responsibilities for calibration [3]. Group 2: Definition of Key Subject Responsibilities - The rules clarify the rights and obligations of various market participants, including market operators, electricity trading institutions, electricity dispatching agencies, and grid companies. It specifically outlines the responsibilities of grid companies in verifying settlement bases and standardizes the verification process, including uniform measurement units and settlement subject formats [4]. Group 3: Settlement Model for Spot Market - The rules establish that, in principle, regions with continuous spot market operations will adopt a "daily clearing and monthly settlement" model, while non-spot market areas will settle on a natural monthly basis. Auxiliary services and retail markets will settle according to their respective rules after monthly clearing, standardizing the settlement cycle and process across the national electricity market [5]. Group 4: Strengthening Settlement Risk Prevention - The rules mandate trading institutions to conduct settlement risk assessments. Market participants are required to provide performance guarantees, such as letters of credit and deposits. Grid companies can apply to trading institutions for the use of settlement guarantees for market participants who fail to make timely payments [6]. Group 5: Unified Electricity Payment Processes - The rules standardize the payment processes between power generation companies and grid companies, and for the first time, clarify the payment processes between users and grid companies. This includes regulations on VAT invoice issuance, electricity settlement agreements, and the use of promissory notes [7]. Group 6: Overall Framework for Electricity Market - The issuance of these rules marks the completion of a preliminary framework for the "1+6" basic rule system for the electricity market, which includes fundamental operational rules and various supporting regulations. The National Energy Administration is working to ensure unified and standardized operation of the national market and aims to enhance the coordination and integration of various market types, including long-term, spot, auxiliary services, and green certificates [7].