Two departments: Coordinate the promotion of the construction of the long-term electricity market and the electricity spot market.

On December 26th, the National Development and Reform Commission and the National Energy Administration issued the "Basic Rules of the Long-Term Electricity Market". It mentions the coordinated promotion of the construction of the long-term electricity market and the electricity spot market, ensuring good connection in terms of transaction timing, transaction clearing, market settlement, etc., and playing the basic role of the long-term electricity market in balancing the long-term supply and demand of electricity, and stabilizing the operation of the electricity market. Adapting to the characteristics of fluctuating output of new energy sources, achieving flexible continuous trading, promoting multi-year power purchase agreements mechanism, and stabilizing long-term consumption capacity. It promotes the coupling of long-term electricity trading across provinces and regions and provincial (regional, municipal) long-term electricity trading, dynamic connection in terms of economic responsibility, price formation mechanism, etc. Regularize cross-network operation area transactions. Encourage innovation in provincial inter-provincial trading mechanisms, jointly promote regional power mutual aid and flexible sharing of resource regulation. The original text can be found on the website of the National Development and Reform Commission.