China is fast-tracking the development of its power spot market and aims to achieve nationwide coverage by the end of 2025, under a new policy directive from the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA).
Source: China Energy News
China is fast-tracking the development of its power spot market and aims to achieve nationwide coverage by the end of 2025, under a new policy directive from the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA).
The notice lays out a timeline and roadmap for building a unified national electricity market. Spot markets that have run continuously for over a year and pass third-party assessments against the Interim Rules for the Power Spot Market will be eligible to transition to official operation.
By the end of next year, the government expects full nationwide coverage, with continuous settlement in place. The spot market is intended to play a critical role in price discovery and real-time balancing of supply and demand, as part of broader efforts to build a unified national power market. The reform push also aims to ease structural mismatches between renewable-rich provinces and major consumption centers by promoting cross-regional electricity trading. Analysts say the timeline for full rollout will help dismantle provincial barriers and improve resource allocation across the grid.
As of now, five provincial markets and one interprovincial market have moved into official operation. Going forward, regulators are expected to clarify third-party assessment standards—such as implementation rules under the interim framework—to ensure fairness and consistency. Market oversight will also be tightened to guard against price manipulation and other distortions.
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