Group 1 - The core point of the article is that the Sichuan electricity spot market has entered a trial settlement phase, resulting in a full day of negative electricity prices, with the highest clearing price at -34.87 yuan/MWh and the lowest at -50 yuan/MWh, indicating a significant supply-demand imbalance [1][2][7] - The main reason for the negative electricity prices is that supply significantly exceeds demand, with the average electricity supply-demand ratio in Sichuan from September 19 to 21 being 1.44, 1.48, and 1.51 respectively [2][5] - The electricity supply in Sichuan is primarily hydropower, which constitutes over 60% of the installed capacity, and recent abundant water inflow has led to full reservoir conditions, prompting hydropower stations to declare negative prices to alleviate reservoir pressure [1][2] Group 2 - Negative electricity prices reflect the challenges faced by the integration of non-regulated renewable energy sources in Sichuan, where nearly 50% of the installed capacity consists of renewable energy sources that are not adjustable [5][6] - The occurrence of negative prices demonstrates that the market pricing mechanism is functioning effectively, providing price signals that encourage demand response and resource allocation [5][6] - There is an urgent need to establish a full capacity compensation mechanism to ensure that conventional power sources can maintain adequate revenue amidst the rapid growth of renewable energy installations [6][7]