The National Development and Reform Commission (NDRC) has recently issued the Measures for Regulation of Electricity Market (the "Measures"), with effect from June 1, 2024.
Compared with the previous version, the Measures mainly propose the following revisions: (1) clarifying implementation subjects; (2) improving the provisions on the targets of electricity market regulation; (3) optimizing and adjusting the regulation contents; (4) refining the management expressions in electricity market rules; and (5) adding regulatory measures. Notably, the Measures add the regulation of electricity sales enterprises, electricity users, energy storage enterprises, virtual power plants, and load aggregators; clarify the regulation of power generation enterprises, power grid enterprises, electricity sales companies, electricity users, energy storage enterprises, and other electricity trading entities in respect of the execution of relevant contracts; add the regulation on electricity sales enterprises under or affiliated with power grid enterprises regarding their participation in market transactions and commissioned purchase of electricity; and set forth market monitoring and risk prevention requirements for electricity market operators according to the Basic Rules for Medium and Long-term Electricity Trading.