By tf-lawyer.com In an exclusive interview with representatives from the State Grid, we learned that starting today, October 15, the inter-provincial electricity spot market has officially launched, marking a significant expansion in China’s electricity market transactions.
The inter-provincial electricity spot market operates on the foundation of existing medium and long-term trading in the inter-provincial electricity sector. It facilitates day-ahead and intra-day electricity trading and serves as a crucial component of the nationwide unified electricity market. After a trial period that began in January 2022, characterized by 31 months of stable and orderly functioning, the market is now transitioning to official operations.
Currently, the trading scope encompasses the entire coverage area of the State Grid and the Inner Mongolia West region, with over 6,000 trading entities involved, spanning various types of power generation sources. The accumulated trading volume has exceeded 88 billion kilowatt-hours, with clean energy accounting for more than 44% of this total.
Moreover, the formal launch of the inter-provincial electricity spot market is expected to further enhance the integration of renewable energy sources. During the first eight months of its trial operation, the spot market contributed to a 1 percentage point increase in the utilization rate of renewable energy.
This development highlights China’s commitment to promoting a more efficient and sustainable electricity market.
