Core Insights - The announcement of the 2025 renewable energy mechanism electricity price bidding results by the State Grid Shandong Electric Power Company marks the official implementation of market-oriented reforms for renewable energy grid prices in Shandong, providing a "Shandong model" for national electricity market reforms [1] Group 1: Bidding Results - The bidding results show that the selected wind power volume is 5.967 billion kilowatt-hours with a winning price of 0.319 yuan per kilowatt-hour, while the selected solar power volume is 1.248 billion kilowatt-hours with a winning price of 0.225 yuan per kilowatt-hour [1] - The total scale of the mechanism electricity volume is 9.467 billion kilowatt-hours, with a bidding period set for deep-sea wind power at 15 years and other projects at 10 years [2] Group 2: Market Dynamics - The reform allows all renewable energy grid volumes to enter the market, shifting the revenue model from "guaranteed purchase + national subsidies" to "market-based revenue + mechanism bidding," which directly impacts project profitability based on market judgments [2] - The mechanism electricity price acts as a "dynamic price insurance" for power generation companies, providing compensation when market prices fall below the mechanism price and requiring refunds of excess profits when market prices exceed it [1] Group 3: Industry Impact - The reform is expected to guide the energy structure towards a diversified collaboration of wind, solar, and storage, promoting scientific decision-making and technological innovation within the renewable energy sector [3] - The shift from a "scale competition" to an "efficiency competition" in the renewable energy industry is anticipated, encouraging companies to focus on profitability rather than just capacity [3]