China's Green Electricity Market Construction Practice and Thoughts

This document provides an overview of China's green electricity market construction, focusing on new energy participation in the electricity market. It outlines the policy background, including the Renewable Energy Law and the 2015 electricity market reforms, which established a guaranteed purchase system and encouraged market-oriented transactions. The current status shows that new energy is primarily based on guaranteed purchase with some market participation, varying by province. During the 14th Five-Year Plan period, new energy development is characterized by large-scale, high-proportion, market-oriented, and high-quality growth. National plans aim to improve the guaranteed purchase system, promote orderly market participation, and expand consumption space. By 2025, initial market mechanisms for new energy and energy storage are expected, with full market participation by 2030. The document discusses trading methods, including intra-provincial and inter-provincial trading, and highlights the need for innovative dispatching and trading mechanisms to support high proportions of new energy in the power system.