从12月12日《山东省电力零售市场价格风险防控实施细则》（鲁发改价格〔2025〕872号）正式印发， 到12月15日、16日、17日、18日连续发布四批《价格预警函》并附上价格预警用户名单，要求地方主管 部门"立即对接企业法定代表人""明确告知风险"，山东发改委等主管部门的行动之迅速、措施之具体、 指向之明确，充分展现了其将制度蓝图转化为治理实景的执行效率与坚定决心及其对营商环境的深切关 注，通过实际行动向所有市场主体传递了一个清晰信号：新规不是"纸老虎"，山东维护市场秩序、保护 用户权益是动真格的。 二、为诚信经营者营造"公平决斗场"，驱逐劣币 一个健康的市场，应奖励诚信与专业，而非投机与欺诈。过去，利用信息差进行不当营销甚至误导签约 的售电公司，对其自身而言可能短期内能牟取暴利，但这损害了市场整体信誉，严重挤压了那些依靠专 业服务、风险管理能力获取合理利润的合规售电公司的生存空间，无异于变相的劣币驱逐良币。 一、为零售用户筑起"防护堤"，破解信息不对称困局 电力零售市场长期存在的一个核心痛点，便是售电公司与海量中小用户之间的严重信息不对称。部分售 电公司利用专业壁垒，通过"虚构事实、模糊表述、隐瞒市场信息 ...

Core Insights - The regulatory landscape for the electricity market is becoming increasingly clear, with recent penalties highlighting a shift in enforcement practices [1][3][10] - Five major power generation companies were fined 460,000 yuan each for not adhering to electricity market operation rules, indicating a strong regulatory stance [2][4][9] Regulatory Actions - The recent penalties were issued by the Central China Energy Regulatory Bureau and the Zhejiang Energy Regulatory Office, with each company receiving the same fine of 460,000 yuan [2][4] - The basis for these penalties is Article 31 of the Electricity Regulatory Ordinance, which mandates compliance with market operation rules [2][4] Historical Context - This is not the first instance of penalties for these major power companies; previous fines have been issued for similar violations, with a total of 1.624 million yuan in penalties announced earlier in 2025 [4][5] - Past violations included providing false capacity connection times by wind power companies under these major groups [4][5] Regulatory Environment - The tightening of regulations coincides with the critical phase of establishing a unified national electricity market, with a target to complete the initial framework by early 2025 [8][9] - The focus of regulation is expanding from safety issues to comprehensive compliance with market rules and connection standards [10][11] Future Implications - Power generation companies must adapt to the new regulatory environment, shifting from a production-oriented approach to one that emphasizes compliance with market rules [12][14] - Strict adherence to registration requirements and market principles is now essential for survival in the industry, marking a significant transformation in the regulatory landscape [15]