The "National Unified Electricity Market Development Planning Blue Book," coordinated by the National Energy Administration and jointly compiled with the China Electricity Council and multiple entities, unveiled its findings in Beijing on November 29th.
From CNENERGYNEWS
The "National Unified Electricity Market Development Planning Blue Book," coordinated by the National Energy Administration and jointly compiled with the China Electricity Council and multiple entities, unveiled its findings in Beijing on November 29th. The Blue Book delineates a clear trajectory and timeline for the development of a unified national electricity market: an initial establishment by 2025, full establishment by 2029, and further refinement by 2035.
According to the Blue Book, in 2023, the national market traded 5.67 trillion kilowatt-hours of electricity, representing 61.4% of the total societal electricity consumption, nearly a fivefold increase in market size since 2016. The volume of electricity traded across provinces and regions reached nearly 1.2 trillion kilowatt-hours, with the market's role in optimizing the allocation of electricity resources over a broader scope continually strengthening. The cumulative number of registered market participants in the national electricity market stood at 743,000, marking a 23.9% year-on-year increase, further boosting market vibrancy. Additionally, the integration of new energy into the market has accelerated. In 2023, the volume of new energy traded in the national market reached 684.5 billion kilowatt-hours, accounting for 47.3% of all new energy generation. Some large power generation companies have seen over 50% of their new energy participate in the market. Moreover, the scale of green electricity and certificate transactions has been expanding, with the national green electricity transaction volume reaching 151.93 billion kilowatt-hours in the first half of 2024, a 233% year-on-year increase, and the trading of 160 million green certificates.
The roadmap for promoting the construction of a unified electricity market is divided into a "three-step" strategy. Firstly, by 2025, the market aims for an initial establishment, achieving orderly integration between inter-regional and provincial markets. Secondly, by 2029, the market will be fully established, ensuring comprehensive participation of new energy in the market, and fostering uniform market foundational rules, equitable market supervision, and high-standard interconnection of market infrastructure. Thirdly, by 2035, the market will be enhanced to support large-scale integration of new energy, establishing a market mechanism that fully harmonizes market dynamics, pricing, and technological advancements.