The General Office of the State Council issued the "Implementation Opinions on Improving the National Unified Electricity Market System."

Recently, the General Office of the State Council issued the "Implementation Opinions on Improving the National Unified Electricity Market System." The Opinions require adhering to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implementing the spirit of the 19th National Party Congress and the various plenary sessions of the 20th Party Congress, fully implementing the new development concept, and according to the requirements of building a national unified large market, deepening electricity system reform, and constructing a new type of electricity system. It emphasizes national unity and smooth circulation, focuses on breaking market segmentation, removing regional barriers, promoting efficient and organic connection in the market, coordinating to promote high-level dynamic balance of supply and demand in the electricity market, expanding scale, improving structure, and enhancing functionality, establishing a unified open, orderly competitive, safe and efficient, and well-governed electricity market system. while ensuring the safe and reliable operation of the power system, achieve smooth and orderly market operation, unified and efficient trading rules, and fair and reasonable distribution of benefits to provide strong support for ensuring energy security, economic and social development, and green and low-carbon transformation. The Opinions clearly state that the national unified electricity market system will be basically completed by 2030 and fully established by 2035. The Opinions point out that efforts should be made to promote the optimal allocation of electricity resources nationwide, optimize the path to achieve a national unified electricity market system, and improve the cross-provincial and cross-regional electricity trading system. Efforts should be made to improve the functions of the electricity market, build a better spot market that discovers prices and regulates supply and demand, continuously improve the medium and long-term market that ensures stable and secure electricity supply, accelerate the construction of auxiliary service markets that support flexible adjustment of the power system, improve the green electricity market that achieves environmental value, establish a capacity market that reliably supports the construction of adjusting power sources, and create a standardized, orderly, convenient, and efficient retail market. Efforts should be made to promote equal and wide participation in the electricity market by various types of entities, further promote the participation of power generation side, user side, and new types of operators in the electricity market. It is necessary to construct a unified national electricity market system, unify electricity market rules, improve the electricity market governance system, improve the electricity price formation mechanism, unify electricity market technical standards, and establish a unified national electricity market credit system. It is necessary to strengthen policy coordination, strengthen the connection and coordination between electricity planning and the electricity market, strengthen emergency response and risk prevention and control system construction, and establish an electricity market evaluation system.