Core Viewpoint - The article discusses the recent progress in the construction of a national unified electricity market in China, highlighting the issuance of the "Basic Rules for Electricity Market Measurement and Settlement" by the National Development and Reform Commission and the National Energy Administration [2][3]. Summary by Sections Overview of the New Rules - The new rules clarify the basis for electricity market measurement and settlement, applicable scope, and management requirements for measurement devices [3]. - The rules aim to address issues such as inconsistent measurement management, unclear responsibilities between grid companies and trading institutions, and delays in electricity bill settlements [3]. Structure of the Electricity Market - The establishment of a "1+6" foundational rule system for the electricity market is completed, which includes basic operational rules and various trading rules [3]. - The settlement process involves two main steps: the trading institution forming the settlement basis and the grid company conducting the electricity bill settlement [4]. Responsibilities and Processes - The rules specify the responsibilities of grid companies in verifying settlement bases and standardize the verification process [5]. - Market participants must meet independent measurement conditions, and measurement devices should be installed at property boundary points [5]. Settlement Management - The rules outline the rights and obligations of various market members regarding settlement, including preparation, issuance of settlement bases, and payment processes [5]. - A unified measurement unit and settlement subject format are established, with a general settlement cycle of a natural month [5]. Risk Management in Settlement - The rules require trading institutions to conduct settlement risk assessments and mandate market participants to provide performance guarantees [6]. - The rules also standardize the payment processes between power generation companies and grid companies, including VAT invoice issuance and payment agreements [6].

Core Viewpoint - The article discusses the newly issued "Basic Rules for Metering and Settlement in the Electricity Market," which aims to enhance the management of metering and settlement in the national unified electricity market, ensuring fair and accurate transactions among market participants [3][8]. Summary by Sections General Principles - The rules are established to implement the central government's directives for deepening electricity system reform and building a unified national market [8]. - Metering is defined as the measurement and recording of electricity data to meet settlement needs [9]. - The rules apply to all types of electricity markets and emphasize the importance of accurate and timely settlement [9][10]. Overall Requirements - Electricity market settlement includes energy trading, ancillary services trading, and capacity trading, with settlements generally conducted on a natural month basis [11][12]. - In continuous operation of the electricity spot market, a "daily clearing and monthly settlement" model is adopted [12]. - The rules require that all market participants adhere to the established metering and settlement processes [9][10]. Rights and Obligations - Market participants must participate in the electricity market according to the rules and provide necessary data for settlement [15]. - The electricity trading institution is responsible for compiling settlement data and ensuring its accuracy [17]. - The grid enterprises must issue electricity bills based on the settlement basis provided by the trading institution [18]. Metering Management - Market participants must install metering devices that meet national standards and undergo regular calibration [20]. - The grid enterprises are responsible for ensuring that metering devices are installed and maintained properly [20][21]. Settlement Management - Settlement preparation involves collecting and summarizing the necessary data within specified timeframes [27]. - The electricity trading institution compiles settlement bases based on market rules and foundational data [33]. - Electricity bills must be issued by grid enterprises within specified deadlines, ensuring timely payment to generation companies [42][43]. Supervision and Management - Disputes regarding metering and settlement can be resolved through mediation or legal channels [41]. - Regulatory bodies will address any non-compliance with the metering and settlement rules [41]. Implementation - The rules will take effect on October 1, 2025, and will be valid for five years [43][44].