随处一顾 Wandering Gaze 电力市场政策规则 学习笔记 电力中长期市场基本规则 发改能源规【2025】1656号 广东·广州瀚海阳天 2026年2月 随处一顾 Wandering Gaze 目录 （四）规则总体章节变化 CONTENTS （一）规则目的与背景 （二）规则版本更送 （三）规则总体内容简介 （五）规则总体内容变化 （六）具体规则分析 （七）学习展望 (一） 随处一顾 WanderingGaze 规则自的与背景 该规则与《电力市场运行基本规则》 》对应条款 (一) 随处一顾 WanderingGaze 规则自的与背景 | A提取文字 ··更多功能 | 第23-24条（计量装置）→中长期规则第71条（遵福计量结算配套规则） | | --- | --- | | 第六章电能计量与结算（运行规则23-29条） | 第25条（计量点）→中长期规则第69-70条（共用计量点分摊规则） | | | 第26条（计量数据）一→中长期规则第24条（电网企业提供并维护计量数据） | | | 第27-29条（结算）→中长期规则第72-80条（结算周期/方式/电单独结算） | | | 第30条（主体安全责任）→中 ...

Core Insights - The new energy storage capacity in China is projected to reach 136 million kilowatts (351 GWh) by the end of 2025, marking an 84% increase from the end of 2024 and over a 40-fold growth compared to the end of the 13th Five-Year Plan [1][11][20] Capacity Growth - By the end of 2024, the cumulative installed capacity of new energy storage projects in China was 73.76 GW (168 GWh), with an estimated addition of 62.24 GW (183 GWh) in 2025 [3][14] - The average storage duration has increased to 2.58 hours, up by 0.30 hours from the end of 2024 [1][11] Regional Distribution - North China has the largest share of installed capacity, accounting for 32.5%, followed by Northwest China at 28.2%, East China at 14.4%, Southern China at 13.1%, Central China at 11.1%, and Northeast China at 0.7% [5][13] - The main growth regions for new energy storage in the past year were North and Northwest China, contributing 35.2% and 31.6% of the new installations, respectively [5][13] Provincial Development - Rapid development of new energy storage is observed in provinces such as Xinjiang, Inner Mongolia, Yunnan, Hebei, and Shandong, with new installations of 10.23 million, 10.03 million, 6.13 million, 5.69 million, and 4.04 million kilowatts, respectively [7][16] - The top three provinces by cumulative installed capacity are Inner Mongolia (20.26 million kW), Xinjiang (18.80 million kW), and Shandong (11.21 million kW) [7][16] Project Scale and Technology - Projects with capacities over 100,000 kW represent 72% of total installations, an increase of approximately 10 percentage points from 2024 [7][16] - Lithium-ion battery storage remains dominant, accounting for 96.1% of the installed capacity, while other technologies like compressed air and flow batteries make up 3.9% [7][16] Utilization and Future Plans - The equivalent utilization hours for new energy storage are expected to reach 1,195 hours in 2025, an increase of nearly 300 hours from 2024 [9][18] - The National Energy Administration plans to implement a comprehensive development plan for new energy storage, focusing on policy management, technological innovation, and high-quality development [9][18] Electricity Market Trends - The total electricity market transaction volume in China reached 664 billion kWh in 2025, a year-on-year increase of 7.4% [11][20] - Market-based transactions accounted for 64% of total electricity consumption, reflecting a 1.3 percentage point increase [11][20] - Cross-provincial electricity transactions reached a record 1.59 trillion kWh, growing by 11.6% year-on-year [11][20] - Green electricity transactions surged to 328.5 billion kWh, a 38.3% increase, representing 18 times the volume of 2022 [11][20]

Core Viewpoint - The Jiangsu Energy Regulatory Office has released a draft for the "Implementation Rules for Jiangsu Province's Mid- to Long-Term Electricity Market" to standardize trading behaviors and protect the rights of market participants, aiming to ensure a unified, open, competitive, and orderly electricity market [2][3]. Group 1: Market Structure and Participants - The draft outlines the structure of the electricity market, including members such as power generation companies, electricity trading companies, electricity users, and new types of operators [5][7]. - New types of operators are categorized into single-technology and resource aggregation types, including distributed solar, wind power, and virtual power plants [3][7]. - The market participants are required to adhere to market rules and are prohibited from manipulating prices or engaging in unfair competition [8][9]. Group 2: Trading Mechanisms - The mid- to long-term electricity market allows for various trading periods, including multi-year, annual, monthly, and intra-month transactions [30][31]. - The trading methods include direct energy trading and contract transfer trading, with specific rules for green electricity trading [32][33]. - The pricing mechanism for mid- to long-term contracts can be fixed or flexible, depending on market supply and demand [50][51]. Group 3: Regulatory Framework - The rules are established in accordance with national policies and laws, including the Energy Law and Electricity Law, to ensure compliance and effective market operation [5][6]. - The Jiangsu Energy Regulatory Office and the Provincial Development and Reform Commission are responsible for the implementation and supervision of these rules [9]. - The draft emphasizes the importance of information disclosure and market transparency to maintain fair competition [12][13]. Group 4: Rights and Obligations of Market Participants - Power generation companies must fulfill obligations such as timely settlement of electricity fees and compliance with grid access services [14][15]. - Electricity users are required to provide necessary information for market participation and adhere to the rules for electricity trading [16][17]. - New types of operators must also meet specific conditions to participate in the market, including technical capabilities and compliance with regulatory requirements [18][19].

Core Insights - Guizhou's electricity market has transformed from a planned allocation system to a market-driven model, achieving a market transaction volume of 988.04 billion kWh by 2025, a 4.7-fold increase from 174 billion kWh in 2015, with over 6,900 billion kWh traded cumulatively over ten years [1] Trading Variety: From Single to Diverse Ecosystem - The first independent long-term storage transaction in Guizhou marks a significant shift, allowing storage projects to participate in the market as independent entities [2] - The trading ecosystem has evolved from a single annual negotiation method to a comprehensive "smart trading" model that includes various trading cycles, types, and flexible methods [3] Trading Scale: From Initial Steps to Quality Growth - Green electricity trading in Guizhou saw explosive growth, with transaction volumes increasing from 0.313 million kWh in 2022 to 104.69 million kWh by 2025, a growth of over 300 times [4] - The introduction of market mechanisms for green electricity has activated both supply and demand, with 172 new energy companies entering the market and significant corporate participation in green electricity consumption [5] Trading Scope: From Provincial to Nationwide Connectivity - Guizhou's electricity trading has expanded from provincial to inter-regional connections, allowing for flexible cross-province electricity transfers, exemplified by the "Qian Electric to Hunan" initiative [6] - The province is integrating into the national unified electricity market, with plans for a formal operation of the southern regional electricity market by 2026, enhancing the value of Guizhou's diverse energy resources [7]

Core Viewpoint - The release of the "Basic Rules for the Electric Power Medium and Long-term Market" marks a significant step in the development of China's electric power market, aiming to enhance energy security, promote green transformation, and stabilize market operations [1] Group 1: One Goal - The "Basic Rules" focus on three core objectives: ensuring supply, promoting transformation, and stabilizing prices [2] - To ensure supply, the rules strengthen the medium and long-term market's foundational role in stabilizing electricity supply and demand, encouraging long-term contracts to provide clear market expectations for power investment and grid planning [2] - For promoting transformation, the rules establish a green electricity trading mechanism, allowing for independent accounting of green electricity's environmental value and encouraging participation in long-term green electricity trading [2] - The rules also incorporate new market participants like virtual power plants and distributed energy sources to support energy structure transformation [2] Group 2: Two Connections - The "Basic Rules" emphasize the need for dynamic connections between inter-provincial and intra-provincial markets, as well as between medium-long-term and spot markets, to create a multi-level collaborative operating system [4] - The rules promote coupling between inter-provincial and intra-provincial trading, encouraging innovative mechanisms for cross-regional electricity trading [4] - They also clarify the timing and settlement mechanisms for medium-long-term and spot markets, enhancing market flexibility and stability [4] Group 3: Three Coverages - The "Basic Rules" aim to establish a comprehensive medium and long-term electricity market system that covers spatial, temporal, and varietal dimensions [5] - Spatially, the rules create a three-tier trading organization system across grid operating areas, provinces, and regions, ensuring nationwide electricity trading coverage [6] - Temporally, the rules establish a full-cycle trading system covering multiple time frames, from several years to monthly and daily transactions [6] - In terms of variety, the rules define various trading methods, including bilateral negotiation, centralized bidding, and listing, to meet diverse trading needs [6] Group 4: Outlook - By 2025, Shandong aims to implement the national unified electricity market construction requirements, achieving significant results and establishing itself as a provincial model for the national unified electricity market [7] - The introduction of the "Basic Rules" provides guidance for Shandong to better integrate into the national market system, enhancing its medium and long-term trading mechanisms and promoting green electricity trading [7]

Core Viewpoint - The article discusses the implementation of the "Basic Rules for the Medium and Long-term Electricity Market," which aims to establish a unified national electricity market, regulate medium and long-term electricity trading behaviors, and adapt to the needs of electricity reform and development [5][11]. Group 1: Market Structure and Trading Mechanism - The medium and long-term electricity market prices will be determined by market participants without third-party intervention, except for government-regulated prices [2][31]. - The rules will facilitate the integration of medium and long-term markets with spot markets, ensuring a smooth transition in trading sequences, clearing, and market settlement [2][14]. - The market will allow for flexible and continuous trading to accommodate the volatility of renewable energy output, promoting long-term power purchase agreements [2][14]. Group 2: Market Participants and Rights - All electricity users participating directly in the medium and long-term market can purchase their entire electricity volume through wholesale or retail markets, but cannot participate in both simultaneously [2][11]. - The rights of market participants, including generation companies, retail companies, and electricity users, are defined, ensuring fair access to services and information [18][19][20]. Group 3: Pricing Mechanism - The pricing mechanism for green electricity transactions will consist of energy prices and green electricity environmental values, with specific regulations on how these values are treated in pricing [31][32]. - The government will set upper and lower limits on prices to prevent market manipulation and unhealthy competition [38][39]. Group 4: Implementation Timeline - The rules will take effect on March 1, 2026, and will be valid for five years [3][66].

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have issued the "Basic Rules for the Medium and Long-term Electricity Market," aiming to enhance the construction of the medium and long-term electricity market and the spot electricity market, ensuring a stable operation of the electricity market and accommodating the characteristics of renewable energy output fluctuations [1][5]. Group 1: Market Structure and Functionality - The medium and long-term electricity market is defined as a market where registered entities conduct transactions for electricity products or services for future delivery, covering various time frames from years to months [3][4]. - The rules emphasize the importance of integrating medium and long-term trading with spot market operations, facilitating flexible and continuous trading to stabilize long-term consumption space [5][6]. Group 2: Market Participants and Responsibilities - Market participants include power generation companies, electricity sales companies, electricity users, and new business entities, all of which must adhere to market rules and avoid price manipulation [4][5]. - Responsibilities of power generation companies include compliance with market rules, timely completion of electricity payment settlements, and provision of necessary operational information [8][9]. Group 3: Trading Mechanisms and Pricing - The medium and long-term trading includes various delivery cycles such as multi-year, annual, and monthly transactions, with specific trading methods like centralized trading and bilateral negotiations [13][15]. - Pricing mechanisms are determined by market forces, with the government setting overall principles for price formation, ensuring that prices reflect supply and demand dynamics [16][17]. Group 4: Transaction Organization and Management - The organization of cross-regional and provincial electricity trading will be managed by designated electricity trading centers, ensuring a structured approach to market operations [19][20]. - The trading platform must support continuous operations and provide functionalities for registration, transaction clearing, and market monitoring [37][38]. Group 5: Information Disclosure and Compliance - Market information must be disclosed periodically, ensuring transparency and allowing stakeholders to access relevant data for decision-making [35][36]. - Compliance with the rules is mandatory for all market participants, with penalties for violations to maintain market integrity [40][41].

Core Insights - The National Energy Administration reported that by November 2025, a total of 132 million green certificates were traded nationwide, with 25.39 million of these being green electricity trading certificates [1] - From January to November 2025, a total of 728 million green certificates were traded, including 228 million green electricity trading certificates [1] - The average trading price for green certificates for the electricity production year of 2024 was 4.28 yuan per certificate, while for the year 2025, the average price increased to 5.16 yuan per certificate [1] Summary by Category Green Certificate Trading - By November 2025, 132 million green certificates were traded, with 25.39 million related to green electricity [1] - From January to November 2025, 728 million green certificates were traded, including 228 million for green electricity [1] Price Trends - The average price for green certificates for the electricity production year of 2024 was 4.28 yuan per certificate [1] - The average price for green certificates for the electricity production year of 2025 rose to 5.16 yuan per certificate [1]

Core Viewpoint - The article discusses the recently released "Basic Rules for the Medium and Long-term Electricity Market" by the National Development and Reform Commission and the National Energy Administration, aimed at establishing a unified national electricity market and regulating medium and long-term electricity trading behavior [2][8]. Overall Requirements - The construction of the medium and long-term electricity market and the spot electricity market will be coordinated, ensuring smooth transitions in trading sequences, clearing, and market settlements to balance long-term supply and demand [3]. - Cross-regional trading will be promoted, encouraging innovative mechanisms for inter-provincial trading and resource sharing [3][4]. - Market operators will conduct registration, trading organization, settlement, and information disclosure according to unified standards [3]. Participant Registration - Electricity users can purchase all their electricity through wholesale or retail markets but cannot participate in both simultaneously. Users not directly participating can have their electricity purchased by grid companies [5][20]. Pricing Mechanism - The overall principles for market pricing will be set by the State Council's pricing authority, with local authorities developing specific implementation details [6]. - Transaction prices will be formed by market participants, with no third-party interference, and green electricity prices will consist of energy prices and environmental values [6][7]. - The government will set price limits to prevent market manipulation and ensure fair pricing [7][39]. Trading Types and Price Mechanism - Medium and long-term trading will include various delivery periods, with green electricity trading being a significant focus, allowing for the purchase of renewable energy [34][35]. - Contracts can be transferred to third parties, and green electricity contracts must ensure traceability of environmental values [36][38]. Transaction Organization - Cross-regional transactions will be organized by designated electricity trading centers, with monthly trading calendars published by trading institutions [41][42]. - Key parameters for transactions must be clearly defined before trading begins, and adjustments cannot be made during the trading process [44]. Contract Management - All market participants must sign medium and long-term trading contracts, which will serve as the basis for execution [64][65]. - In emergencies, the electricity dispatching agency can prioritize safety in scheduling and report incidents to regulatory bodies [68]. Measurement and Settlement - Settlements will generally occur monthly, with specific reference points for pricing established based on market clearing prices [72][73]. - Green electricity transactions will have separate settlements for energy and environmental values, ensuring compliance with sustainability pricing mechanisms [78]. Information Disclosure - Market information will be disclosed periodically, with a retention period of at least two years [81][82]. Technical Support System - The electricity trading platform will include various functional modules to support market operations and ensure data interoperability among different systems [84][86].

Core Viewpoint - The recent developments in green electricity trading in China highlight a significant increase in electricity exports from Heilongjiang, indicating a growing trend towards sustainable energy solutions and market-driven approaches to energy distribution [1][2][3]. Group 1: Electricity Export Data - Heilongjiang Electric Power Trading Center reported a total electricity export volume of 146.68 billion kilowatt-hours in 2026, marking a year-on-year increase of 19.3% [1]. - The green electricity export volume reached a record high of 34.31 billion kilowatt-hours, with 18.04 billion kilowatt-hours exported to Zhejiang during low-demand periods [1]. - The transactions with Beijing accounted for 10.39 billion kilowatt-hours of green electricity, addressing the growing demand in North and East China [1]. Group 2: Policy and Market Development - The National Development and Reform Commission and the National Energy Administration issued a notification to establish a unified national electricity market evaluation system, promoting efficient circulation of electricity resources across provinces [2][3]. - The notification emphasizes the need to break down barriers to cross-regional trading and enhance the operational efficiency of the grid, aligning with national energy strategies [2][3]. - Market mechanisms such as market-based transmission rights and capacity bidding are suggested to improve the utilization of transmission resources [2]. Group 3: Demand-Side Incentives - Experts suggest that alongside policy support, demand-side mechanisms should be designed to incentivize green electricity consumption, including tax benefits and discounts for high green electricity users [3]. - The shift towards a market-driven approach for "West-to-East Power Transmission" is seen as essential for large-scale clean energy development and efficient utilization [3][4]. - The establishment of a unified trading platform and standardized rules is crucial for optimizing resource allocation and enhancing the efficiency of electricity transactions across regions [4].