China has taken a meaningful step forward in electricity market reform, as the top economy planner NDRC unleashed a critical power pricing policy last week. The regulator inked the policy swiftly after the State Council reached conclusions on addressing the looming energy supply shortage (see last China Clean Energy Syndicate Oct 11). The change in retail power pricing mechanism is a highlight of the new policy. Previously the industry has been debating on the issues regarding retail catalogue pricing for years, but progress has been limited. The change might kick off China’s next reformative moves on the electricity market.
The reform is also significant for renewable, clean energy investment and energy storage market development.
Some other critical updates of the Chinese clean energy market last week:
- Net-Zero Investment: President Xi last week announced China’s big moves in biodiversity, where mega renewable complex investment is remarked as part of the solution. The top authority’s statement is a clear indication of the investment trend in China’s renewable market.
- Renewables: The upcoming CWP will see major R&D development from the Chinese wind OEMs. Already CRRC Yongji released the 18MW wind turbine generator while Dongfang Electric Wind Power announced that it is going to reveal this 13 MW turbine prototype in the CWP.
- Hydrogen: LONGi made another leap in hydrogen equipment development by launching its first alkaline water electrolyzer product.
Please scroll down to check out the 8 updates that we considered noteworthy last week.
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Price Reform Amidst Crisis– China Clean Energy Syndicate