Central China Energy Regulatory Bureau: Striving for Early Implementation of New Frequency Regulation Auxiliary Service Market Rules Settlement Operations
To implement the National Energy Administration’s plan for establishing a unified national electricity market by 2025, and to accelerate the construction of the electricity market and digital regulatory work, the Central China Energy Regulatory Bureau recently organized a meeting to advance electricity market construction. Representatives from the grid companies, electricity dispatch agencies, and electricity trading institutions in Hubei, Jiangxi, Chongqing, and Tibet attended the meeting.
During the meeting, various electricity dispatch agencies presented the progress and operational status of the electricity spot market and frequency regulation auxiliary service market for the first quarter. They also discussed the development of new energy, pumped storage, and virtual power plants, as well as plans for future work. Electricity trading institutions shared insights on inter-provincial and intra-provincial medium- and long-term trading activities for the first quarter and provided updates on the construction of digital regulatory systems, along with suggestions for market development.
The meeting emphasized the need for all units to focus on the overarching goal of establishing a unified national electricity market. First, there is a strong push to advance the electricity market’s development. Hubei Province is accelerating the transition of its spot market to formal operations, while Jiangxi and Chongqing are urged to quickly initiate trial runs for long-cycle continuous settlements in the spot market. The aim is to achieve early implementation of the new frequency regulation auxiliary service market rules and to encourage the participation of storage and hydropower in the frequency regulation market, as well as expedite research on the standby auxiliary service market.
Second, cooperation in electricity market regulation is crucial. All institutions are tasked with organizing the self-inspection and correction work for prominent issues related to market order by 2025. They must also expedite the development of the digital regulatory system to enable real-time monitoring of digital regulatory indicators, providing solid technical support for non-site supervision.
Third, the governance system of the electricity market needs to be improved. It is essential to establish strong operational safeguards for the electricity market, with the market management committee enhancing self-examination and rectification work. Efforts must be made to improve organizational structures and decision-making rules, establish expert committees and specialized working groups, and ensure that market entities fulfill their self-regulatory responsibilities. Dispatch and trading agencies must effectively implement their primary responsibilities for market monitoring and risk prevention, enhance monitoring of unfair competitive practices, and report incidents promptly.
Moving forward, the Central China Energy Regulatory Bureau will continue to promote the construction of provincial electricity markets, strengthen supervision and inspection of electricity market order, and facilitate the standardized operation of the electricity market. This will ensure the achievement of the goal of preliminarily establishing a unified national electricity market in the Central China region.
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