The National Development and Reform Commission (NDRC) of China has initiated a study to create a national centre for spot trading of electricity across regions. China intends to launch a primary national power market by 2025, which would coordinate with existing regional power markets and cover medium- and long-term trading, spot power trading and ancillary services trading. In addition, the country aims at establishing a national trading system by 2030, which would include all renewable power producers.
The country already issued draft trading regulations in November 2021 to incentivise encourage power consumers to start spot trading directly with renewable power generators in other provinces. Under the new framework, local administrations would be incited to expand regional power trading to serve areas such as Beijing-Tianjin-Hebei, the Yangtze River Delta and the Greater Bay Area surrounding Hong Kong and Shenzhen. In addition, the sport market would be opened to nuclear power plants, energy storage facility owners and distributed power generators.
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