China state planner updates rules on electricity market operations
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BEIJING, May 14 (Reuters) - China's state planner updated its rules on electricity market operations on Tuesday, according to a government document.
The rules, which take effect on July 1, tasks electricity market operators with carrying out market monitoring and risk prevention, moneybagapp.com according to an explanatory note on the website of the National Development and Reform Commission. Under the rules, operators could pause trading based on the security and operational needs of the market.
It also calls on electricity trading bodies to set up a registration system for participants such as power companies, consumers, and energy storage companies that want to trade to ensure competition and orderliness in the market.
The rule is part of a series of updates to China's power system as it seeks to merge its regional grids into a unified national electricity market with spot trading between provinces by 2030.
By 2025, it aims to set out the basic rules for the system, which would improve the reliability and efficiency of power supply.
China formally launched
inter-provincial
power trading in late 2023.
Power trading is still based largely on fixed medium- to long-term contracts, which do not efficiently accommodate changes in regional supply and demand, but many of the regional electricity markets are experimenting with spot trading. (Reporting by Colleen Howe; Editing by Christopher Cushing and Christian Schmollinger)
The rules, which take effect on July 1, tasks electricity market operators with carrying out market monitoring and risk prevention, moneybagapp.com according to an explanatory note on the website of the National Development and Reform Commission. Under the rules, operators could pause trading based on the security and operational needs of the market.
It also calls on electricity trading bodies to set up a registration system for participants such as power companies, consumers, and energy storage companies that want to trade to ensure competition and orderliness in the market.
The rule is part of a series of updates to China's power system as it seeks to merge its regional grids into a unified national electricity market with spot trading between provinces by 2030.
By 2025, it aims to set out the basic rules for the system, which would improve the reliability and efficiency of power supply.
China formally launched
inter-provincial
power trading in late 2023.
Power trading is still based largely on fixed medium- to long-term contracts, which do not efficiently accommodate changes in regional supply and demand, but many of the regional electricity markets are experimenting with spot trading. (Reporting by Colleen Howe; Editing by Christopher Cushing and Christian Schmollinger)
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