Core Viewpoint - The introduction of the "Basic Rules for Electricity Market Measurement and Settlement" is a significant step towards enhancing the operational effectiveness of the national unified electricity market, aligning with the directives from the Party's 20th Central Committee and the State Council [3][4]. Summary by Sections 01 Significance of the Rules - Since the new round of electricity system reform in 2015, various regulatory documents have been issued to establish a solid foundation for the healthy development and standardized operation of the electricity market [4]. - The current practices in electricity market measurement and settlement need to be unified and clarified to meet the evolving demands of market participants [5]. - The establishment of these basic rules is crucial for the implementation of the Party's directives and for adapting to the requirements of a new type of electricity system [5]. 02 Highlights of the Rules - The rules standardize the processes for data collection, transmission, verification, and validation, clarifying the rights and obligations of all market participants [6]. - They establish uniform timelines for settlement processes, including the issuance of settlement bases and electricity bills, aiming to shorten the payment timelines [6]. - The rules define the electricity payment processes among generation companies, electricity users, and grid companies, enhancing the efficiency of payment transactions [6]. - They cover all market participants, including new types of operational entities, ensuring comprehensive applicability [6]. - For the first time, the rules outline procedures for handling disputes and objections regarding settlement bases and electricity bills, improving service for market participants [7]. 03 Conclusion - The formal introduction of these rules marks the establishment of a comprehensive regulatory framework for the national unified electricity market, laying a solid institutional foundation for its preliminary establishment by 2025 [8]. - The Beijing Electric Power Trading Center will leverage the implementation of these rules to promote the standardization and intelligence of the electricity market measurement and settlement system, supporting the high-quality development of the national unified electricity market [8].

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration jointly issued the "Basic Rules for Metering and Settlement in the Electricity Market" to maintain order in the electricity market and protect the legitimate rights and interests of market participants [3]. Group 1: Basic Concepts - Metering refers to the measurement and recording of data such as electricity quantity and power to meet the settlement needs of the electricity market [5]. - Settlement includes forming the basis for settlement and calculating electricity fees, where the electricity trading institution provides settlement basis and services to market participants and grid enterprises [6][7]. Group 2: Principles and Scope - The basic principles of the settlement process are legality, fairness, and impartiality [9]. - The settlement cycle is defined as a natural month, with "daily clearing and monthly settlement" for regions operating in the spot market [10]. Group 3: Rights and Obligations - Electricity quantity is measured in megawatt-hours (MWh) or kilowatt-hours (kWh), while electricity fees are calculated in yuan, and electricity prices are expressed in yuan per MWh or yuan per kWh [13]. Group 4: Market Participants - Market participants are responsible for trading, signing and fulfilling contracts, disclosing and providing data, verifying settlement basis and electricity bills, and submitting settlement guarantees [15]. Group 5: Settlement Management - Settlement preparation involves collecting and summarizing the necessary basic data within a specified timeframe, which includes market participant profiles, transaction contract data, and electricity measurement data [20]. - The settlement basis is compiled and published by the trading institution, with a formal settlement basis released by the 8th of each month [23]. Group 6: Electricity Fee Settlement - The electricity bill is issued by the 10th of each month, with payment from power generation enterprises to the grid within five days [26]. - Users or electricity sales companies are required to pay according to agreements, with overdue payments subject to collection actions [27]. Group 7: Supervision and Management - The regulatory bodies include market participants, market operation institutions, and grid enterprises, with dispute resolution mechanisms in place [29][31].

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have issued the "Basic Rules for Metering and Settlement in the Electricity Market," which outlines the settlement methods for electricity trading based on market operation conditions [1]. Group 1: Settlement Rules - In regions where the electricity spot market is not continuously operating, annual and monthly transactions will be settled on a natural month basis [1]. - For regions conducting multi-day transactions, settlement will be based on the minimum trading cycle, with a natural month used for overall settlement [1]. - When the electricity spot market is continuously operating, a "daily clearing and monthly settlement" model will be adopted, where daily transaction results are cleared and the monthly settlement reflects the cumulative daily results [1]. Group 2: Auxiliary Services and Retail Market - The settlement for electricity auxiliary services and retail markets will be conducted according to the rules specified for those markets, also on a natural month basis [1].

Core Viewpoint - The issuance of the "Basic Rules for Metering and Settlement in the Electricity Market" aims to unify and standardize the metering and settlement processes across the national electricity market, addressing existing inconsistencies and inefficiencies in the system [3][4]. Group 1: Background and Purpose - The rules are a continuation and enhancement of previous regulatory documents since the 2015 electricity system reform, aiming to establish a unified national electricity market [3][4]. - The need for these rules arose from various issues such as inconsistent metering management, unclear responsibilities among market participants, and delays in electricity settlement [3][4]. Group 2: Main Content of the Rules - The rules consist of 6 chapters and 56 articles, covering general provisions, overall requirements, metering management, settlement management, supervision management, and supplementary provisions [5]. - Key areas include defining rights and obligations of market participants, managing metering devices and data, and establishing clear settlement processes and timelines [5]. Group 3: Requirements for Unified Metering and Settlement - Emphasis on independent metering conditions and regular calibration of metering devices, with clear responsibilities for costs [6]. - Standardization of settlement processes, including rights and obligations of various market participants, and unification of measurement units and settlement cycles [6][7]. - Introduction of risk management measures for settlements, including the requirement for market participants to provide guarantees [6]. Group 4: Responsibilities in Market Settlement - Clear division of responsibilities between electricity trading institutions and grid companies in the settlement process, with trading institutions responsible for compiling settlement data and grid companies for providing metering data and issuing bills [8]. - The rules clarify the responsibilities of grid companies in verifying settlement data and outline the verification process [8]. Group 5: Settlement Timing Regulations - The rules standardize the timing of settlement processes, which previously varied by region, ensuring timely issuance of settlement data and bills [9]. - Specific timelines are established for the issuance and confirmation of settlement data, with provisions for dispute resolution [9].