CEC Set Up the New Power Market Branch

December 16, 2021 /CEC/ - On December 16, 2021, moderated by Pan Yuelong, the Chief Supervisor of China Electricity Council (CEC), the Inaugural Meeting of the Power Market Branch of CEC as well as the Seminar on “Power Market Construction” were held in Beijing. Yang Kun, the Executive President of CEC, the officials from the National Development and Reform Commission and the National Energy Administration attended the Meeting and made the Welcome Notes. Chen Guoping, the Deputy General Manager of the State Grid Corporation of China, gave the Keynote speech on "The Marketization Empower the Sustainable Development of Power Industry". Delegates from the power enterprises, industry organizations and institutions attended the hybrid event held online and offline, which attracted ca. 120,000 audiences to watch through the live broadcasting.

CEC Power Market Branch (hereinafter referred to as "PMB") is a branch association of CEC and implements the articles of CEC. The PMB is a service platform for resource sharing, strengthening communication, promoting information exchange, cooperation, openness, non-profit and public welfare in the field of power market. As one of the main professional branches of CEC, PMB will accurately position itself to connect the government and enterprises as the bridge, to respond to the demands of members, to reflect the voice of the industry, to carry out industry self-discipline, to provide the professional consulting services and to promote business communication of the industry. Members of the PMB are mainly from the power grid enterprises, power trading institutions, power generation enterprises, power sales enterprises, large power consumers, scientific research institutions, financial institutions and other organizations, as well as individual members such as industry experts.

In the speech, Yang Kun pointed out that China's power market-oriented reform has made great progress in recent years. At the same time, there are still a series of problems to be solved, such as the immature market trading mechanism of new energy, the imperfect price and compensation mechanism of power auxiliary services, the imperfect technical standard system of power market, and the lack of professional quality of power traders. Especially since this year, the international commodity prices have continued to rise, which caused the rapid increase of the domestic coal price for power generation and the sporadic power cuts. Under such circumstances, CEC established the PMB to give full play to the active role of industry associations and to accelerate the green transformation of energy. PMB must always adhere to the purpose of serving the enterprises in the power industry and promote the innovative and coordinated development of the power market.

At the Power Market Construction Seminar, representatives from power grid companies, power trading institutions, power generation companies, and universities, as well as scholars and experts, enthusiastically communicated on hot topics in the industry, such as: the security of power supply, the way to improve the power market mechanisms and the role of the PMB, etc.