Core Viewpoint - The State Council has issued an implementation opinion on improving the national unified electricity market system, aiming to establish a better spot market for price discovery and supply-demand adjustment by 2027 [1] Group 1: Market Development - The spot market will play a crucial role in discovering real-time prices and accurately reflecting supply and demand [1] - The goal is to have the spot market basically operational by 2027 [1] Group 2: Participation and Responsibility - Various operating entities on both the supply and demand sides will be encouraged to report and quote prices to participate in the electricity market [1] - There will be a clear definition of electricity supply responsibility for all parties involved, facilitating user participation in inter-provincial spot trading [1] Group 3: Market Integration - The integration of the spot market with other markets will be strengthened in terms of trading sequence, pricing, and settlement [1] - Time-based pricing signals will be utilized to better guide operating entities in optimizing their electricity generation and consumption behaviors, thereby enhancing the flexibility of the electricity system [1]

Core Viewpoint - The State Council has issued implementation opinions to improve the national unified electricity market system, emphasizing the need to enhance the electricity pricing mechanism [1] Group 1: Electricity Pricing Mechanism - The pricing mechanism will be primarily determined by supply and demand, promoting market prices to reflect the multidimensional value of electricity resources [1] - A national unified electricity settlement policy and market price risk prevention system will be established [1] - Local governments are prohibited from unlawfully implementing preferential electricity pricing policies [1] Group 2: Regulatory Framework - Strengthening price regulation in natural monopoly sectors is highlighted [1] - The system for transmission and distribution pricing for regional and provincial power grids will be improved [1] - The exploration of a two-part tariff system or a single capacity tariff will be considered when conditions are ripe [1]