Core Viewpoint - The National Development and Reform Commission (NDRC) has issued new regulations regarding the pricing and cost supervision of electricity transmission and distribution, aiming to enhance the regulatory framework for power grid enterprises and ensure fair pricing mechanisms [2][29]. Group 1: Cost Supervision and Pricing Methods - The newly established methods include the "Cost Supervision Method for Transmission and Distribution Pricing," "Provincial Grid Transmission and Distribution Pricing Method," "Regional Grid Transmission Pricing Method," and "Cross-Province and Cross-Region Special Project Transmission Pricing Method" [2][29]. - The cost of regional grid transmission is defined as the reasonable expenses incurred by grid operators to provide transmission services using shared transmission networks across provinces [5]. - The cost supervision principles include legality, relevance, and reasonableness, ensuring that only direct and necessary costs are included in the pricing [5][6]. Group 2: Cost Composition - The components of transmission and distribution pricing costs include depreciation and operational maintenance costs [8]. - Depreciation costs are calculated based on the fixed assets and usage rights related to transmission and distribution, following specified methods and timeframes [13][14]. - Operational maintenance costs encompass material costs, repair costs, labor costs, and other operational expenses necessary for maintaining normal grid operations [8][9]. Group 3: Regulatory Obligations - Power grid enterprises are required to establish a cost accounting system and submit regular reports to government price authorities [6][22]. - They must provide accurate financial reports and cooperate with government audits, ensuring the authenticity and completeness of the data provided [7][24]. - The enterprises must differentiate costs by voltage level and user category, ensuring proper allocation and reporting of costs and revenues [22][23]. Group 4: Pricing Calculation and Adjustments - The provincial grid transmission and distribution pricing will be determined based on the approved revenue, which includes allowable costs and reasonable returns [34][37]. - The pricing structure will consider various voltage levels and user categories, ensuring a fair distribution of costs among different users [49][50]. - Adjustments to pricing may occur due to significant changes in costs or regulatory policies, ensuring that the pricing remains aligned with market conditions and operational realities [54][56].

下一步，国家发展改革委将根据修订后的输配电成本监审和定价办法，对省级电网、区域电网和跨省跨区专项工程开展成 本监审和价格核定等工作。 （编辑 郭之宸） 一是促进新能源消纳利用。通过在输配电价中引入容量机制，明确对新能源发电就近消纳等新业态实行单一容量制电价， 对以输送清洁能源电量为主的跨省跨区专项工程探索实行两部制或单一容量制电价，降低新能源交易成本，从而促进新能源更 大范围、更高水平利用。 二是促进电力安全保供。通过完善以联网互济功能为主的跨省跨区专项工程输电价格机制，支持电网加强互济通道建设， 增强全国电力负荷错峰、余缺互济和应急支援能力，促进整个电力系统安全平稳运行和效率提升。 三是促进电网企业降本增效。通过优化完善部分成本参数，推动电网企业强化内部管理。此外，根据近年来法律法规和会 计准则调整情况，对有关规定作了相应修改完善，以做好政策衔接和工作协同。 本报记者 杜雨萌 11月27日，国家发展改革委发布消息称，为进一步完善输配电价监管制度，近日，国家发展改革委修订了《输配电定价成 本监审办法》《省级电网输配电价定价办法》《区域电网输电价格定价办法》和《跨省跨区专项工程输电价格定价办法》四个 办法。 此 ...

文 | 国家发展和改革委员会 11月27日，国家发展改革委修订输配电成本监审和定价办法。 其中《输配电定价成本监审办法》再次明确，抽水蓄能电站、 新型储能电站、电网所属电厂成本费、独立核算的售电公司的成本费用等 不得计入输配电定价成本。 此次修订，一是 促进新能源消纳利用。通过在输配电价中引入容量机制， 明确对新能源发电就近消纳等新业态实行单一容量制电价， 对以输送清洁能源电量为主的跨省跨区专项工程探索实行两部制或单一容量制电价， 降低新能源交易成本，从而促进新能源更大范围、 更高水平利用。 《省级电网输配电价定价办法》则明确：电动汽车充换电服务等辅助性业务单位及"三产"资产，和抽水蓄能电站、 新型储能电站、电厂 资产，不得纳入可计提收益的固定资产范围。 《跨省跨区专项工程输电价格定价办法》：跨省跨区专项工程输电价格实行单一电量电价制。适应新型电力系统和全国统一电力市场建 设需要，对以输送清洁能源电量为主或以联网功能为主的跨省跨区专项工程，可探索通过两部制或单一容量制形成输电价格，加强全过 程监管。探索实行输电权交易，以进一步提升专项工程利用率、促进电力资源优化配置。 《区域电网输电价格定价办法》：区域电网准 ...

Core Points - The article outlines the newly established pricing and cost supervision methods for electricity transmission and distribution, aimed at enhancing the regulatory framework for power grid enterprises [1][2][30] - The methods include specific guidelines for provincial, regional, and cross-province transmission pricing, ensuring that costs are reasonable and aligned with legal standards [2][30] Group 1: Cost Supervision Principles - The cost supervision for transmission and distribution pricing must adhere to principles of legality, relevance, and reasonableness, ensuring that only direct and necessary costs are included [2][4] - Costs must comply with the Accounting Law of the People's Republic of China and relevant financial regulations [2][4] Group 2: Cost Composition - Transmission and distribution pricing costs consist of depreciation and operational maintenance costs, which include materials, repair, labor, and other operational expenses [5][6] - Specific costs such as materials and repair fees are capped at a percentage of the newly added fixed assets during the supervision period [15][39] Group 3: Excluded Costs - Certain costs are explicitly excluded from the pricing, including those unrelated to transmission and distribution services, such as expenses from auxiliary business units and penalties [8][10] - Costs that are compensated by government subsidies or donations are also not included in the pricing calculations [8][10] Group 4: Pricing Methodology - The pricing for provincial electricity transmission is determined based on the approved costs and reasonable returns, with a focus on promoting high-quality development of power grid enterprises [33][36] - The average transmission price is calculated by dividing the total approved revenue by the total electricity transmitted [47][48] Group 5: Regulatory Framework - The regulatory framework mandates that power grid enterprises report their cost data annually, ensuring transparency and accountability in pricing [28][34] - The methods are set to be implemented starting December 1, 2025, with a validity period of ten years [30][55]

Core Points - The National Development and Reform Commission (NDRC) has issued new regulations regarding the pricing of electricity transmission and distribution, aimed at improving the regulatory framework for power grid enterprises [1][2]. Group 1: Regulatory Framework - The NDRC has developed four key documents: the "Cost Supervision and Audit Method for Transmission and Distribution Pricing," the "Provincial Power Grid Transmission and Distribution Pricing Method," the "Regional Power Grid Transmission Pricing Method," and the "Pricing Method for Cross-Province and Cross-Region Special Project Transmission" [1]. - These measures are in response to the requirements outlined in the opinions from the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council regarding the improvement of pricing governance mechanisms [1]. Group 2: Implementation - The NDRC has instructed provincial development and reform commissions, as well as major power grid companies, to implement these new pricing regulations [1].

Core Viewpoint - CenterPoint Energy plans to invest a record $65 billion by 2035 to expand its power grid capacity, enhance resilience, and digitize operations in response to significant growth in electricity demand, particularly in Texas [1][5]. Group 1: Investment Plans - The $65 billion investment is part of a ten-year infrastructure plan focused on grid capacity expansion, resilience strengthening, and digitalization [1][5]. - CenterPoint forecasts a nearly 50% increase in peak load demand for its Houston utility by 2031, potentially doubling to around 42 GW in the next decade [1]. Group 2: Market Drivers - The surge in electricity demand is driven by major tech companies like Tesla, Microsoft, Google, and Meta establishing and expanding AI data centers, cryptocurrency mining operations, and large-scale industrial manufacturing [1][4]. - The electricity demand from AI data centers is expected to significantly increase, with projections indicating a doubling of peak electricity demand in the next five years [1][4]. Group 3: Industry Trends - The International Energy Agency (IEA) predicts that global data center electricity demand will more than double by 2030, reaching approximately 945 TWh, with AI applications being the primary driver of this growth [4]. - Goldman Sachs forecasts a 165% increase in global electricity demand by 2030 due to the rapid rise of AI data centers, necessitating changes in infrastructure and energy strategies [4]. Group 4: Company Performance - CenterPoint Energy's stock has surged nearly 30% this year, significantly outperforming the S&P 500 index, driven by unprecedented valuation expansion in the utility sector due to AI data center demand [2]. - The company has raised its annual earnings forecast and aims for a long-term growth target of 7% to 9% before 2028, maintaining this growth rate until 2035 [1].

Core Viewpoint - The recent reforms in electricity pricing, particularly in transmission and distribution, are seen as a crucial step in enhancing cost efficiency and operational decision-making for market participants and end-users [1] Group 1: Transmission and Distribution Pricing Reforms - The National Development and Reform Commission has released multiple draft guidelines for revising transmission and distribution pricing, marking a significant regulatory overhaul in China's electricity pricing system [1] - This simultaneous release of four draft guidelines is viewed as a key initiative in the fourth regulatory cycle of transmission and distribution pricing reform [1] Group 2: Enhancing Renewable Energy Consumption - The draft guidelines focus on two dimensions: domestic consumption and inter-provincial transmission, aiming to eliminate bottlenecks and facilitate the integration of renewable energy [2] - A proposed single capacity pricing model for grid companies servicing new energy projects is expected to reduce costs and encourage investment in integrated projects, promoting local consumption of renewable energy [2] - The guidelines also suggest a new pricing mechanism for inter-provincial transmission projects that primarily transport clean energy, which could enhance the flow of electricity from resource-rich western regions to load centers in the east [2] Group 3: Stabilizing Electricity Costs for Users - The draft emphasizes the need for a balanced cost-sharing mechanism among users, ensuring fair distribution of costs based on consumption while maintaining transparency in pricing [3] - Measures are proposed to stabilize electricity prices, which would support businesses in planning their energy usage and foster a competitive environment for high-energy-consuming industries [3] Group 4: Strengthening Cost Regulation for Grid Companies - The draft guidelines aim to establish a more rigorous cost auditing system for grid companies, ensuring that costs are justified and not passed on to end-users unnecessarily [4] - By eliminating unrelated costs and refining cost accounting standards, the reforms are designed to ensure that funds are allocated effectively towards critical infrastructure projects, enhancing the grid's capacity to integrate renewable energy [4]

Core Viewpoint - The National Development and Reform Commission has released four revised methods regarding transmission and distribution pricing, inviting public feedback, which has sparked discussions in the industry about cost allocation in the new power system [1] Summary by Sections Revision Details - The revised methods include the "Cost Supervision and Audit Method for Transmission and Distribution Pricing," the "Provincial Grid Transmission and Distribution Pricing Method," the "Regional Grid Transmission Pricing Method," and the "Special Project Transmission Pricing Method for Inter-provincial and Inter-regional Projects" [1] - The effective period of the "Cost Supervision and Audit Method" has been extended from 3 years to 10 years, enhancing policy stability and predictability [1][4] Cost Allocation Issues - A core issue in the current electricity price revision is the cost allocation due to the high proportion of intermittent renewable energy and fluctuating demand, which affects the operational costs of the system [2] - The revised "Cost Supervision and Audit Method" clarifies which costs are considered "reasonable expenses" and which should be excluded, including new items like "leasing fees," "safety fees," and "environmental protection taxes" [3][4] Regulatory Enhancements - The revision emphasizes both incentives and constraints, aiming to better support the construction of a new power system, and strengthens regulatory oversight by innovatively determining the financing costs of grid companies [3][4] - The synchronization of cost audits and pricing for provincial and regional grids is expected to improve regulatory efficiency and clarity in asset allocation [4] Industry Reactions and Concerns - The revisions have raised concerns among electricity users, power sales companies, and renewable energy investors, particularly regarding the definition of "sales electricity" and the exclusion of new energy storage station costs from transmission pricing [5][6] - There is a need for further clarification on how costs related to new energy storage stations will be managed, as current regulations do not include these costs in system operating expenses [7][9] Compensation Mechanisms - Different provinces have begun implementing capacity compensation and pricing mechanisms for new energy storage stations, which have positively impacted regional investment confidence [7][8] - The compensation methods vary, with some provinces allocating costs to the generation side while others pass them on to users, highlighting the need for a balanced approach to compensation [8][9] Future Considerations - The industry emphasizes the importance of a well-structured capacity compensation mechanism to ensure sustainable development and maintain system reliability [10][11] - As renewable energy's share increases, the demand for auxiliary services will grow, making energy storage a key resource for providing necessary services [11]

Core Viewpoint - The recent announcement of four revised pricing methods for electricity transmission and distribution has garnered significant attention from electricity users, power sales companies, and investors in the renewable energy sector, focusing on the cost-sharing mechanisms within the new power system [1][2]. Summary by Sections Revision Details - The revised methods include the "Cost Monitoring and Audit Method for Transmission and Distribution Pricing," the "Provincial Grid Transmission and Distribution Pricing Method," the "Regional Grid Transmission Pricing Method," and the "Cross-Province and Cross-Region Special Project Transmission Pricing Method." The "Cost Monitoring and Audit Method" has the broadest applicability and highest attention, with its validity period extended from 3 years to 10 years compared to the previous version published in 2019 [1][3][4]. Cost Structure Changes - The revision clarifies which costs are considered "reasonable expenses" for grid companies, adding items such as "leasing fees," "safety fees," "environmental protection taxes," and "water resource taxes" to the allowable costs, while excluding costs related to pumped storage power stations and new energy storage stations [3][4]. Implications for Pricing and Regulation - The extended validity period and synchronized pricing audits across different grid levels are expected to enhance regulatory efficiency and clarity in asset categorization, thereby improving investment and management effectiveness in the electricity grid sector [4][5]. Industry Concerns - Key concerns raised by industry stakeholders include the definition of "sales electricity" in relation to line losses and the exclusion of new energy storage station costs from transmission pricing, prompting discussions on how to manage these costs effectively [5][6]. Capacity Compensation Mechanisms - Various provinces have begun implementing capacity compensation and pricing mechanisms for new energy storage stations, with compensation rates varying significantly. For instance, Inner Mongolia has set a compensation standard of 0.35 yuan/kWh, while Hebei and Gansu have established capacity pricing standards of 100 yuan/kW and 330 yuan/kW, respectively [7][8]. Future Considerations - The need for a balanced approach to compensating new energy storage resources is emphasized, as under-compensation could hinder sustainable development, while over-compensation could lead to inefficiencies. The industry calls for a comprehensive capacity compensation policy to stabilize investor confidence and ensure system reliability [9][10][11].