The Hunan Regulatory Office of the National Energy Administration, the Hunan Provincial Development and Reform Commission, and the Hunan Provincial Energy Bureau have jointly issued the "Supplementary Provisions on the Medium- and Long-Term Electricity Trading Rules in Hunan" (hereinafter referred to as the "Supplementary Provisions") recently to promote the construction of the electricity market in Hunan in an orderly manner and facilitate the connection between medium- and long-term and spot market operations.
As a supplement to the "Revised Version of the Medium- and Long-Term Electricity Trading Rules in Hunan Province (2022)", the "Supplementary Provisions" focuses on modifying and improving three aspects of content to provide strong support for subsequent market construction. Firstly, the relevant requirements for market registration are improved. By referring to the "Basic Rules for Electricity Market Operation" and the "Basic Rules for Electricity Market Registration", the requirements and relevant expressions for various business entities to participate in the market are refined. Secondly, the time-of-use trading method is clarified. The "Supplementary Provisions" specify that the medium- and long-term time-of-use trading takes the electricity quantity of 24 time periods (24 hours) throughout the day as the trading subject matter, and the electricity quantity and price are declared according to 24 time periods, and the decomposition methods of annual, monthly, and intra-monthly contract electricity quantities are added. Thirdly, a price connection mechanism between medium- and long-term electricity and spot prices is proposed, which is conducive to forming time-of-use trading prices that are adapted to the time-of-use supply and demand situation of power generation and consumption.
In recent years, Hunan has organized several trial operations of the electricity spot market. During this period, the connection mode and effect between the medium- and long-term electricity market and the spot market in Hunan have been effectively verified, and the medium- and long-term market has generally operated smoothly. In the next step, the Hunan Regulatory Office of the National Energy Administration will, in accordance with the national unified deployment and arrangement, continuously strengthen the construction of the electricity market, focus on promoting the improvement of the medium- and long-term electricity trading rules that are connected with the electricity spot market, strengthen the supervision of the electricity market order, effectively maintain a fair and just electricity market order, and support the high-quality development of the energy industry in Hunan with high-quality supervision.
Annex 1: "Revised Version of the Medium- and Long-Term Electricity Trading Rules in Hunan Province (2022)"
Annex 2: Notice on Issuing the "Supplementary Provisions on the Medium- and Long-Term Electricity Trading Rules in Hunan Province"
Article source: Hunan Regulatory Office of the National Energy Administration
