业内人士表示，容量电价机制与电力市场交易、价格机制密切相关。《通知》在完善容量电价机制的同 时，对电力市场交易和价格机制作了相应优化完善，并首次在国家层面明确建立电网侧独立新型储能容 量电价机制。其中，在电网侧独立新型储能方面，各地可根据当地煤电容量电价标准，结合放电时长和 顶峰时贡献等因素，建立电网侧独立新型储能容量电价机制。 新型储能容量电价定规则 电力市场交易机制再完善 据国家发展改革委网站1月30日消息，国家发展改革委、国家能源局近日发布《关于完善发电侧容量电 价机制的通知》。《通知》明确，建立电网侧独立新型储能容量电价机制。对服务于电力系统安全运 行、未参与配储的电网侧独立新型储能电站，各地可给予容量电价。 根据《通知》，容量电价水平以当地煤电容量电价标准为基础，根据顶峰能力按一定比例折算(折算比 例为满功率连续放电时长除以全年最长净负荷高峰持续时长，最高不超过1)，并考虑电力市场建设进 展、电力系统需求等因素确定。电网侧独立新型储能电站实行清单制管理，管理要求由国家能源局根据 电力供需形势分析及保供举措等另行明确，项目具体清单由省级能源主管部门会同价格主管部门制定。 "容量电价机制与电力市场交易、 ...

Investment Rating - The report maintains a positive outlook on the Guangdong electricity market, indicating an "Overweight" rating for the industry [2]. Core Insights - The Guangdong Electricity Trading Center has released the key mechanisms and parameters for the 2026 trading year, which includes all new energy generation entering the market and a defined annual trading arrangement [2]. - The initial trading cap for coal, gas, and nuclear power plants is set at 70%, with potential adjustments based on market conditions [2]. - The benchmark electricity price for 2026 is set at 0.463 yuan/kWh, with upper and lower limits of 0.554 yuan/kWh and 0.372 yuan/kWh, respectively [2]. - Nuclear power's market transaction volume is expected to increase, with a planned volume of 312 billion kWh for 2026, up from 273 billion kWh in 2025 [2]. - The removal of the variable cost compensation mechanism for nuclear power is anticipated to enhance revenue, with projections indicating an increase of approximately 4 billion yuan to 10 billion yuan based on market conditions [2]. Summary by Sections Annual Trading Mechanism - The annual trading mechanism for 2026 has been established, allowing all new energy sources to enter the market, with trading limits based on historical performance [2]. Pricing Structure - The pricing structure remains unchanged, with a floating range based on a benchmark price of 0.453 yuan/kWh for coal, leading to a market reference price of 0.463 yuan/kWh for 2026 [2]. Nuclear Power Revenue - The nuclear power sector is expected to see revenue growth due to the elimination of the variable cost compensation mechanism, with significant increases in market transaction volumes planned for 2026 [2].