State Council: Give full play to the important role of spot market in discovering real-time prices and accurately reflecting supply and demand.

The General Office of the State Council issued the "Implementation Opinions on Improving the National Unified Electricity Market System", systematically planning the goals and tasks of the national unified electricity market for the next 5-10 years. In accordance with the latest development goals, the "Implementation Opinions" emphasized the deployment of a number of innovative measures. The "Implementation Opinions" proposed to comprehensively build a spot market that better discovers prices and regulates supply and demand. It fully leverages the important role of the spot market in discovering real-time prices and accurately reflecting supply and demand, better guiding the optimal allocation of electricity resources. It aims to promote the formal operation of the spot market by 2027. It also promotes the comprehensive participation of various types of business entities on both sides of supply and demand in the electricity market. While clarifying the responsibilities of all parties in ensuring power supply, it is cautiously promoting the participation of users in inter-provincial spot transactions. It strengthens the connection between the spot market and other markets in terms of transaction timing, prices, settlement, etc., better guiding business entities to optimize their power generation and consumption behavior through time-based price signals, and stimulating the flexible adjustment potential of the power system.