Core Viewpoint - The establishment of a normalized cross-grid electricity trading mechanism in China marks a significant step towards a unified national electricity market, facilitating the optimization of electricity resource allocation across regions [1][2][4]. Group 1: Cross-Grid Electricity Trading Mechanism - From July 1 to September 15, over 2 billion kilowatt-hours of electricity will be transmitted from Yunnan, Guangxi, and Guangdong to Shanghai, Zhejiang, Anhui, and Fujian, indicating the normalization of cross-regional electricity trading [1]. - The National Development and Reform Commission and the National Energy Administration have approved the "Cross-Grid Normalized Electricity Trading Mechanism Plan," aiming for better electricity supply support during peak summer periods by 2025 [1][2]. - The new mechanism transforms electricity trading from temporary arrangements to regular market transactions, enhancing flexibility and efficiency in electricity supply and demand [2][3]. Group 2: Resource Optimization and Demand Complementarity - The historical division between the State Grid and Southern Grid has created market barriers, but the new trading mechanism aims to break these barriers and optimize resource allocation nationwide [1][2]. - The cross-grid trading mechanism allows for better utilization of supply-demand complementarity between provinces, such as the peak load differences between Sichuan and Chongqing [3]. - The mechanism is expected to enhance the efficiency of resource utilization, reducing the need for extensive peak regulation resources in each province [5]. Group 3: Promotion of Green Electricity - The plan facilitates the nationwide flow of green electricity by allowing individual renewable energy projects to participate in cross-regional trading, thus removing institutional barriers [3][4]. - The integration of blockchain technology for tracking green electricity enhances the credibility and traceability of renewable energy transactions [4]. - The trading mechanism has already resulted in significant green electricity transactions, with over 8.7 billion kilowatt-hours traded during the pilot phase [4]. Group 4: Future Prospects and Safety Measures - The continuous opening of cross-grid trading and the construction of more transmission channels are expected to significantly increase transmission capacity and enhance renewable energy absorption [5]. - Safety is a critical aspect of the cross-grid trading mechanism, requiring dual verification from both grid sides to ensure reliable operation [5]. - The anticipated collaboration between various electricity trading centers during events like the National Games will further promote coordinated trading across different grids [5].

Core Viewpoint - The article discusses the recent record-high electricity load in China's power grid and the implementation of a new cross-regional electricity trading mechanism to ensure supply stability and optimize resource allocation across different regions [3][19][20]. Group 1: Electricity Load and Supply - From August 4 to 6, the national grid's electricity load reached a historical high of 12.33 billion kilowatts, equivalent to the output of over 50 Three Gorges power stations [3][19]. - In Hefei, the electricity load exceeded last year's peak value more than ten times since July, indicating a high operational state of the grid [3][19]. - The Southern Power Grid has also contributed to maintaining stable electricity supply, especially during peak demand periods [20][21]. Group 2: Cross-Regional Electricity Trading Mechanism - The National Development and Reform Commission and the National Energy Administration issued a plan to break the segmentation of electricity markets between the State Grid and Southern Grid, enabling mutual support across the national power system [20][24]. - A joint electricity trading initiative between Beijing and Guangzhou trading centers facilitated the transfer of over 20 billion kilowatt-hours of electricity from Southern regions to Eastern regions, benefiting approximately 800,000 households [20][21]. - The new trading mechanism is expected to enhance market competition and ensure electricity supply during critical periods [21][24]. Group 3: Challenges and Solutions - Previous electricity trading between the two grids was limited due to a lack of a standardized market mechanism, relying mainly on government agreements and emergency dispatch [23][24]. - The complexity of organizing cross-regional trading requires precise assessments of supply and demand, as well as efficient coordination between trading platforms [23][24]. - The implementation of detailed business process guidelines for cross-regional trading aims to improve participation and reduce transaction costs for market players [23][24].

Core Insights - The article highlights the record high electricity load in China's State Grid region due to extreme weather conditions, necessitating significant power generation capacity to meet demand [1] - The establishment of a normalized electricity trading mechanism between State Grid and Southern Grid is a key development aimed at enhancing power supply security and market efficiency [3][11] Group 1: Electricity Demand and Supply - From August 4 to 6, the electricity load reached historical highs of 1.222 billion kW, 1.229 billion kW, and 1.233 billion kW, equivalent to the output of over 50 Three Gorges power stations [1] - In Hefei, electricity load has exceeded last year's peak over 10 times since July, indicating a sustained high operational state of the grid [1] - The Southern Grid has contributed to alleviating power supply pressures by providing surplus electricity from regions with high water levels [6] Group 2: Cross-Grid Electricity Trading Mechanism - The normalized electricity trading mechanism aims to break the market segmentation between State Grid and Southern Grid, facilitating mutual support across the national power system [3] - Over 20 billion kWh of electricity will be traded between Southern and Eastern regions from July to September, enough to power over 800,000 households for a year [3] - The trading mechanism is likened to a nationwide "online electricity marketplace," enhancing power supply security during peak periods and stimulating market competition [7] Group 3: Challenges and Solutions - Previous challenges in cross-grid trading included a lack of a standardized market mechanism, leading to inefficient communication and coordination [10] - The new trading framework includes detailed processes for safety checks, transaction execution, and settlement, improving the efficiency of cross-grid electricity transactions [10] - Future plans involve expanding the trading mechanism to include various electricity sources and enhancing the overall design of the national electricity market [11]

Core Insights - The article highlights the record high electricity load in China's national grid due to extreme weather conditions, with peak loads reaching 1.223 billion kilowatts over three consecutive days [1] - The establishment of a normalized electricity trading mechanism between the State Grid and Southern Grid is a significant development, allowing for better resource allocation and electricity supply security across regions [2][5] Group 1: Electricity Load and Supply - The national grid experienced unprecedented electricity loads, with figures of 1.222 billion kilowatts, 1.229 billion kilowatts, and 1.233 billion kilowatts recorded from August 4 to 6 [1] - In Hefei, electricity loads exceeded last year's peak over ten times since July, indicating a sustained high demand [1] - The normalized electricity trading mechanism allows for over 20 billion kilowatt-hours of electricity to be transmitted from Southern regions to Eastern regions, equivalent to the annual consumption of over 800,000 households [1][2] Group 2: Cross-Grid Trading Mechanism - The normalized electricity trading mechanism is likened to a nationwide "online electricity marketplace," enhancing power supply security during peak periods and fostering market competition [2] - The Southern Grid has surplus electricity due to favorable water levels in reservoirs, enabling it to support the Eastern regions during high demand periods [2][3] - The cross-regional trading has resulted in over 100 million kilowatt-hours of electricity traded between regions from July to September [3] Group 3: Challenges and Solutions - Previously, the lack of a regular trading mechanism limited the utilization of inter-grid channels, with only about 30% of capacity being used [3][4] - The complexity of organizing cross-regional trading and the absence of policy support hindered participation in the electricity market [5] - Recent efforts include the development of detailed trading processes and technical platform integration to facilitate smoother transactions and lower costs [5][6]

Core Insights - The article highlights the record high electricity load in China's State Grid area due to extreme weather conditions, with peak loads reaching 1.223 billion kilowatts over three consecutive days [1] - The establishment of a normalized electricity trading mechanism between State Grid and Southern Grid is a significant development aimed at enhancing electricity supply security and market efficiency [2][3] Group 1: Electricity Load and Supply - The electricity load in Hefei, Anhui, has exceeded last year's peak multiple times since July, indicating a sustained high demand [1] - The State Grid has been operating at high capacity, with the need for over 50 Three Gorges power stations to meet the peak load [1] - The normalized electricity trading mechanism allows for the transfer of over 20 billion kilowatt-hours of electricity from Southern regions to Eastern regions, equivalent to the annual consumption of over 800,000 households [2] Group 2: Cross-Grid Trading Mechanism - The new trading mechanism facilitates the exchange of surplus electricity from Southern regions, which have experienced early rainfall and stable load, to Eastern regions facing high demand [3] - The trading system is likened to a nationwide "online electricity marketplace," enhancing competition and ensuring supply during critical periods [3] - The cross-grid trading has the potential to increase transaction volumes significantly, with expectations of over 100 million kilowatt-hours traded from July to September [3] Group 3: Challenges and Solutions - Previous limitations in cross-grid electricity trading were due to a lack of a standardized market mechanism, relying instead on government agreements and emergency dispatch [5] - The complexity of organizing cross-regional transactions has been addressed by developing detailed operational guidelines and improving technological integration between trading platforms [6] - Future plans include further enhancements to the national electricity market system to optimize resource allocation and facilitate broader cross-grid trading [6]

Core Insights - The article highlights the record high electricity load in China's State Grid region due to extreme weather conditions, with peak loads reaching 1.223 billion kilowatts over three consecutive days [1] - The establishment of a normalized electricity trading mechanism between State Grid and Southern Grid is a significant development aimed at enhancing electricity supply security and market efficiency [2][3] Group 1: Electricity Load and Supply - The electricity load in Hefei, Anhui, has exceeded last year's peak multiple times since July, indicating a sustained high demand [1] - The State Grid has been proactive in managing peak electricity loads and optimizing demand management to ensure stable supply [2] - The cross-regional electricity trading has facilitated the transfer of over 20 billion kilowatt-hours of electricity from Southern regions to Eastern regions, equivalent to the annual consumption of over 800,000 households [2] Group 2: Cross-Regional Trading Mechanism - The normalized electricity trading mechanism allows for better coordination between State Grid and Southern Grid, effectively creating a nationwide "online electricity marketplace" [3] - The trading mechanism is expected to enhance the competitiveness of power generation companies by allowing them to connect with more load provinces [3] - The implementation of this mechanism is supported by the establishment of detailed business processes and technical platform integration to facilitate efficient trading [6] Group 3: Challenges and Improvements - Previously, the lack of a regular trading mechanism limited the utilization of inter-grid transmission channels, which were underused [4][5] - The complexity of organizing cross-regional trading and the absence of policy support hindered participation from various stakeholders [6] - Future efforts will focus on improving the national unified electricity market system and removing institutional barriers to optimize electricity resource allocation [6]

Core Viewpoint - The approval of the "Cross-Grid Normalized Electricity Trading Mechanism Plan" by the National Development and Reform Commission and the National Energy Administration marks a significant step towards establishing a unified national electricity market, allowing for the free flow of electricity resources across different grid operating areas [1][2]. Group 1: Mechanism Overview - The new mechanism creates a "national online electricity mall," enabling electricity trading between the State Grid and Southern Grid under a unified set of rules, facilitating the free flow of electricity resources nationwide [2]. - Approximately 40,000 power generation enterprises will be able to sell electricity across the country, enhancing the overall electricity supply and supporting domestic circulation [6][7]. Group 2: Green Electricity Trading - The plan emphasizes "green electricity trading," addressing the mismatch between green electricity supply in regions like Northwest China and demand in economically developed eastern regions [3][5]. - The establishment of cross-regional green electricity trading is seen as a crucial solution to the supply-demand imbalance of green electricity in China [3]. Group 3: Operational Details - The cross-grid electricity trading will be organized by various entities, including the Beijing Power Trading Center and the Southern Power Grid's dispatch control center, ensuring accurate matching of electricity purchase and sale demands [6][8]. - The trading process will initially involve grid companies acting on behalf of local users to participate in cross-grid electricity purchases, with future plans to include distributed energy generation enterprises [7]. Group 4: Transmission and Costs - The plan outlines the transmission costs for cross-regional transactions, with a specific rate of 2.56 cents per kilowatt-hour for transactions not involving Fujian and Guangdong provinces, ensuring fair cost distribution [10]. - The existing transmission channels, such as "Jiangcheng DC" and "Min-Guang DC," are currently utilized for significant electricity transactions, ensuring reliable supply during peak demand periods [8][9]. Group 5: Future Considerations - The electricity grid companies are encouraged to monitor supply and demand dynamics closely and consider cross-regional electricity purchases when local supply is insufficient [11]. - There is a need for enhanced management and technical support systems to ensure the safe and stable operation of the electricity grid and to facilitate market participation for various stakeholders [11].

Core Viewpoint - The newly approved cross-grid electricity trading mechanism aims to enhance the efficiency of electricity distribution from renewable sources in Xinjiang and other regions to major consumption centers like Guangdong and Shanghai, marking a significant step towards a unified national electricity market system [1][2]. Group 1: Mechanism Overview - The State Development and Reform Commission and the National Energy Administration have jointly approved a plan for cross-grid electricity trading, which includes rules for medium- and long-term electricity transactions, green electricity trading, and spot trading [1][4]. - The plan addresses the historical barriers between the State Grid and Southern Grid, allowing for more flexible and larger-scale electricity transactions across regions [2][3]. Group 2: Trading Capacity and Infrastructure - Currently, there are two established interconnection channels between the State Grid and Southern Grid, with ongoing construction of additional channels to enhance trading capacity [3]. - A significant cross-regional electricity transaction has been initiated, involving over 2 billion kilowatt-hours of electricity from Guangdong, Guangxi, and Yunnan to be delivered to Shanghai, Zhejiang, Anhui, and Fujian [3]. Group 3: Trading Rules and Structure - The trading structure will be organized by multiple entities, including the Beijing Power Trading Center and the Guangzhou Power Trading Center, ensuring collaborative transaction results and settlements [4]. - The plan specifies different trading scenarios, such as large-scale direct current projects and flexible power supply between adjacent provinces, to ensure market integrity and balance [5][6]. Group 4: Green Electricity Trading - The plan emphasizes green electricity trading, allowing renewable energy projects to participate as individual trading units, thus facilitating easier access for power users to purchase green electricity [7][8]. - Various trading methods, including centralized bidding and bilateral trading, are outlined, along with a clear process for green certificate transfer to ensure traceability and market integrity [7][9]. Group 5: Future Goals and Implementation - The plan sets short-term, medium-term, and long-term goals, including pilot projects for demand-based trading and green electricity transactions by the end of 2025 [6][10]. - Continuous improvements in channel construction, transaction processes, and market coordination are planned to transition from sporadic trading to a fully normalized trading environment [10].

Core Viewpoint - The implementation of a normalized electricity trading mechanism across power grid operating areas is a significant step towards establishing a unified national electricity market, promoting resource optimization and interconnectivity [3][4]. Group 1: Implementation and Significance - The normalized electricity trading mechanism is approved and should be organized for implementation by the State Grid Corporation and China Southern Power Grid [2][3]. - This mechanism is a key measure to break market segmentation and regional blockades, optimizing electricity resource allocation nationwide [3]. - The collaboration between the State Grid Corporation and China Southern Power Grid is essential to enhance the efficiency of inter-grid channel utilization and ensure the effective operation of the unified electricity market system [3]. Group 2: Operational Guidelines - During the peak summer period of 2025, the mechanism should be utilized to optimize electricity resource allocation and support supply security [3]. - By the end of the year, efforts should be made to unify market rules, trading varieties, and trading timing to achieve normalized trading across grids [3]. - The companies are required to fulfill their responsibilities, improve trading rules, and enhance technical platform interconnectivity and information sharing [3]. Group 3: Regulatory Support - The National Development and Reform Commission and the National Energy Administration will continue to strengthen guidance on normalized trading and improve supporting policies [4]. - There will be a focus on timely coordination to resolve issues and further enhance the national unified electricity market system [4].

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have given principle approval to the "Regularized Electricity Trading Mechanism Plan Across Power Grid Operating Areas" [1] Group 1 - The approval indicates a significant step towards enhancing the electricity trading framework in China [1] - This mechanism aims to facilitate more efficient electricity transactions between different grid areas, potentially leading to improved energy distribution and pricing [1] - The initiative reflects the government's ongoing efforts to reform the energy sector and promote market-oriented practices [1]