China-Europe outdoor power supply model

Will China's power marketisation Reforms benefit from the EU's 30 years experience?

China’s ongoing power marketisation reforms stand to benefit from the EU’s 30 years of experience. Today, both China and the EU are facing challenges sparked by the rapid development of the renewable energy sector and the move away from fossil fuels towards renewables.

What is China's traditional power'market'?

Under China's existing traditional power ‘market’, power generation and consumption are planned and approved centrally. The government strictly controls power supply, power generation and the electricity price, so as to ensure the balance of supply and demand in the ‘market’ and the safe and stable operation of the power grid.

Why is China preparing a spot power market?

In the early stages of the construction of the spot power market, China plans to carry out advance short and medium-term screening of the market due to the difficulty of the work of the regulatory agencies and the lack of experience of the relevant staff.

How has China's power system changed since the 21st century?

Since the 21st century, China’s power system has grown at a tremendous pace. China has become the largest electricity consuming country in the world, with the most complex power system.

Does China have a power market?

At present, the construction of China’s power market has achieved positive results in many respects. 32 provinces in the Chinese mainland have set up power exchanges for power market trading and completed the construction of medium and long-term power markets.

How much electricity does China generate a year?

In 2019, China’s annual power generation was about 7140 TWh,47more than a quarter of the world's electricity, ranking the country first in the world. China's electric power market mechanism is still in its infancy, even though the industry has developed rapidly.