A view of Yuanlong village, where most residents have installed rooftop photovoltaic solar panels, in Northwest China's Ningxia Hui Autonomous Region. Photo: VCG
China recently issued a notice to expedite the integration of new energies into the nation's open electricity market, promoting sustainable economic growth and accelerating China's green, low-carbon transition.
The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) have jointly issued a notice to advance the full integration of wind and solar power that has already been connected to the State Grid into the electricity market, according to a statement released by the NDRC on Sunday.
The notice highlights the need to deepen market-oriented price reforms of new energies, ensuring that electricity prices are determined through competitive market mechanisms.
It calls for the creation of a price settlement mechanism to ensure the sustainable development of new energies, introducing differentiated policies for the existing and new projects to support high-quality industry development.
For existing projects, the electricity volume and pricing framework under the mechanism will align with current policies. For the new projects, the electricity volume included in the mechanism will be determined by local authorities in accordance with national guidelines, with prices determined through competitive bidding on the market, the notice said.
The administration stated that introducing a sustainable price settlement mechanism will effectively align new and existing policies while providing stability for industry growth expectations.
In 2024, China's total electricity consumption reached 9.8521 trillion kilowatt-hours, marki g a 6.8-percent increase from a year earlier, according to NEA data. Of this total, power consumption by large-scale industries accounted for 9.4181 trillion kilowatt-hours.
By the end of December 2024, China's total installed power generation capacity had reached 3.35 billion kilowatts, marking a year-on-year increase of 14.6 percent, according to NEA.
Solar power generation capacity reached approximately 890 million kilowatts-hours, up 45.2-percent year-on-year, while wind power capacity stood at approximately 520 million kilowatts-hours, reflecting an 18-percent increase.
Global Times
