On May 6th, the Shanxi Electric Power Trading Center released its annual report for the 2024 electricity market transactions. The report reveals that the total electricity trading volume for renewable energy in 2024 reached 42.907 billion kilowatt-hours, with a utilization rate exceeding 98%.
Within the province, the mid- to long-term trading volume was 26.607 billion kilowatt-hours, marking a year-on-year increase of 51.8%, with an average transaction price of 317.26 RMB per megawatt-hour. The external mid- to long-term trading volume was 16.300 billion kilowatt-hours, a year-on-year increase of 76.6%, achieving a historic high with an average price of 363.16 RMB per megawatt-hour.
For the first time, distributed photovoltaic power participated in green electricity trading in an aggregated manner, marking a significant milestone for distributed renewable energy in the market. On December 23, 2024, two distributed photovoltaic sources engaged in the green electricity trading for January 2025, resulting in a transaction volume of 5 megawatt-hours at an average price of 333 RMB per megawatt-hour, which represents the first market entry of distributed energy sources in Shanxi.
As the first province in the country to officially operate a power spot market, Shanxi’s electricity market has developed a system characterized by effective collaboration between inter-provincial and intra-provincial activities, as well as an organic integration of mid- to long-term, spot, and ancillary services. The market structure supports an orderly connection between wholesale and retail, fostering the synergistic development of green electricity and green certificates. The market now encompasses a variety of operational entities, including generation, consumption, sales, and independent ancillary service providers, leading to a significant increase in both the number of market participants and the volume of transactions. This has established Shanxi as the provincial electricity market with the longest continuous operation, the most diverse range of products, and the most active trading.
In 2024, the number of organized market transactions reached 1,720, with a total market trading volume of 257.194 billion kilowatt-hours. Specifically, the inter-provincial mid- to long-term trading volume was 61.434 billion kilowatt-hours, showing a year-on-year increase of 4.57%, with an average transaction price of 371.55 RMB per megawatt-hour. The direct trading volume within the province reached 180.332 billion kilowatt-hours, up 1.35% year-on-year, with an average price of 310.60 RMB per megawatt-hour.
Within the province’s direct trading, the annual trading volume was 44.876 billion kilowatt-hours at an average price of 305.32 RMB per megawatt-hour. Multi-month trading accounted for 12.091 billion kilowatt-hours at an average price of 313.38 RMB per megawatt-hour, while monthly trading reached 101.157 billion kilowatt-hours at an average price of 326.76 RMB per megawatt-hour. The intra-month trading volume was 22.208 billion kilowatt-hours, with an average price of 246.14 RMB per megawatt-hour.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/shanxi-launches-first-market-trading-of-distributed-photovoltaics-with-average-price-of-0-333-yuan-per-kwh/
