On November 10, the State Development and Reform Commission and the State Energy Administration issued the Notice on the Establishment of Coal-fired Power Capacity Tariff Mechanism, which stated that in order to adapt to the new situation of the transformation of coal-fired power to basic supportability and system regulation power supply, we should promote the transformation of coal-fired power management and development mode, give full play to the role of support and regulation, and better guarantee electricity. To accelerate the development of new energy and the transformation of green and low-carbon energy, we should establish a coal-electricity capacity tariff mechanism to adjust the current coal-electricity single tariff to a two-part tariff, in which the electricity tariff is formed through the market, sensitively reflecting the supply and demand of the electricity market and the change of fuel cost; The level of capacity tariff is reasonably determined and gradually adjusted according to the actual situation such as the progress of transformation, which fully reflects the value of coal-fired power in supporting and regulating the power system and ensures the sustainable and healthy operation of the coal-fired power industry.
The notice announced the capacity price of coal and electricity in provincial power grids, which is the first time that China has introduced a two-part electricity price mechanism for coal and electricity. The coal-fired capacity tariff will be implemented on January 1, 2024. On October 24, 2021, the
State Council issued the Action Plan for Carbon Peak by 2030 (Guofa [2021] 23), which proposed to promote the transformation of coal-fired power to both basic and system-regulated power sources. The introduction of coal-fired power capacity tariff mechanism is conducive to promoting the transformation of coal-fired power operation and development mode, giving full play to the role of support and regulation, better ensuring the safe and stable supply of electricity, and promoting the accelerated development of new energy and the green and low-carbon transformation of energy.
"Notice" points out that we should adhere to the direction of market-oriented reform, accelerate the construction of efficient and coordinated power market system, such as energy market, capacity market and ancillary service market, and gradually build a two-part tariff mechanism that effectively reflects the value of electricity and capacity of various power sources. Circular
of the
State Development and Reform Commission and the State Energy Administration on the Establishment of a Coal-Electricity Capacity Tariff Mechanism Development and Reform Price [2023] 1501 Development and Reform Commissions and Energy Administrations
of all provinces, autonomous regions, municipalities directly under the Central Government and Sinkiang Production and Construction Corps, and the dispatched offices of the State Energy Administration, China Huaneng Group Co., Ltd., China Datang Group Co., Ltd., China Huadian Group Co., Ltd., State Power Investment Group Co., Ltd., State Energy Investment Group Co., Ltd., State Development Investment Group Co., Ltd., China Resources (Group) Co., Ltd. State Grid Corporation of China, China Southern Power Grid Co., Ltd. and Inner Mongolia Electric Power (Group) Co., Ltd.:
In order to implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council on accelerating the construction of a new power system, adapt to the new situation of the transformation of coal-fired power to both basic guaranteed and system regulated power sources, and promote the transformation of the operation and development mode of coal-fired power, In order to give full play to the role of support and regulation, better guarantee the safe and stable supply of electricity, accelerate the development of new energy and promote the green and low-carbon transformation of energy, the relevant matters concerning the establishment of a coal and electricity capacity tariff mechanism are hereby notified as follows.
First, the general idea is
to adhere to the direction of market-oriented reform, accelerate the construction of efficient and coordinated power market system, such as energy market, capacity market and ancillary service market, and gradually build a two-part tariff mechanism that effectively reflects the value of electricity and capacity of various power sources. At the current stage, in order to meet the needs of accelerating the transformation of coal-fired power functions, the current single-system electricity price of coal-fired power is adjusted to a two-system electricity price, in which the electricity price is formed through market-oriented way, sensitively reflecting the supply and demand of the electricity market and the change of fuel cost; The level of capacity tariff is reasonably determined and gradually adjusted according to the actual situation of transformation progress, which fully reflects the support and regulation value of coal-fired power to the power system and ensures the sustainable and healthy operation of the coal-fired power industry.
2. Policy content
(1) Scope of implementation. Coal-fired power capacity tariff mechanism is applicable to public coal-fired power units in operation in compliance with the regulations. Coal-fired self-owned power plants, coal-fired power units that do not conform to the national planning, and coal-fired power units that do not meet the requirements of the state for energy consumption, environmental protection and flexible regulation capacity shall not implement the capacity tariff mechanism, which shall be specified separately by the National Energy Administration.
(2) Determination of the level of capacity tariff. The coal-fired power capacity price is determined by recovering a certain proportion of the fixed cost of coal-fired power units. Among them, the fixed cost of coal-fired power units used to calculate the capacity price is subject to the national unified standard, which is 330 yuan per kilowatt per year; The fixed cost proportion recovered through the capacity tariff is determined by comprehensively considering the needs of power systems in various regions, the transformation of coal-fired power functions and other factors. From 2024 to 2025, it is about 30% in most places, and it is appropriately higher in some places with rapid transformation of coal-fired power functions, which is about 50% (see the annex for the specific level of coal-fired power capacity tariff in provincial power grids). From 2026, the proportion of fixed costs recovered through capacity tariff will be increased to no less than 50%.
(3) Apportionment of capacity charges. The capacity electricity charge obtained by the coal-fired power unit shall be determined according to the local coal-fired power capacity electricity price and the maximum output declared by the unit. The coal-fired power unit shall be declared on a monthly basis, and the power grid enterprise shall settle on a monthly basis. The new coal-fired power units shall implement the coal-fired power capacity price mechanism from the next month of operation. Coal and electricity capacity charges are included in the system operation costs, which are shared monthly by industrial and commercial users according to the proportion of electricity consumption in that month, and are issued monthly by power grid enterprises and liquidated on a rolling basis.
For the trans-provincial and trans-regional coal-fired power units that are included in the power balance of the receiving provinces, the sending and receiving parties shall sign annual and above medium and long-term contracts to clarify the proportion of coal-fired power capacity charges and the responsibility for performance. Of which: (1) For supporting coal-fired power generating units, in principle, the capacity tariff of the receiving province shall be implemented, and the capacity tariff shall be borne by the receiving province. For power transmission to more than one province, the capacity charge can be temporarily apportioned according to the proportion of power distribution in the receiving province, and the exploration of apportionment according to the proportion of power transmission capacity is encouraged. (2) For other coal-fired power generating units, in principle, the capacity tariff of the power transmission province shall be implemented, and the capacity tariff shall be reasonably apportioned by the transmitting and receiving parties, and the apportionment proportion shall be determined through negotiation in consideration of the proportion of power transmission from the power transmission province and the power consumption of the power receiving province during peak hours.
For the trans-provincial and trans-regional coal-fired power units that are not included in the power balance of the receiving provinces, the power transmission provinces shall bear their capacity charges.
(4) Assessment of capacity electricity charges. Under normal operation conditions, if the coal-fired power unit is unable to provide the declared maximum output according to the dispatching instructions (trans-provincial and trans-regional power transmission shall be subject to the contract, the same below), 10% of the monthly capacity tariff shall be deducted for two times in a month, 50% for three times, and 100% for four or more times. The rules for the declaration, identification and assessment of the maximum output of coal-fired power units shall be clearly defined by the State Energy Administration in combination with the detailed rules for the management of grid-connected operation of electric power. The situation that the maximum output is not up to the standard shall be counted by the power grid enterprise on a monthly basis, and the capacity charge shall be deducted accordingly. Coal-fired power generating units whose monthly capacity electricity charges have been deducted for three times in a natural year shall be disqualified from obtaining capacity electricity charges. The capacity tariff of
emergency standby coal-fired power units shall be formulated by the provincial price authorities in conjunction with the energy authorities in accordance with the principle of recovering daily maintenance costs, and shall be determined by means of competitive bidding. The electricity price of emergency standby coal-fired power units in the transfer period shall be determined according to the level of the shortest cycle electricity market transaction price in the same period. The specific scope and management measures of emergency standby coal-fired power units shall be specified separately by the National Energy Administration.
3. Safeguard measures (
1) Careful organization and implementation. Provincial price authorities should take the lead in implementing the coal and electricity capacity tariff mechanism, make careful arrangements and carefully organize and implement it. Trans-provincial and trans-regional power transmission and receiving parties should strengthen communication and cohesion, refine and determine the allocation mode of electricity charges for the capacity of coal-fired power units as soon as possible, and make it clear in the medium- and long-term transaction contracts. Power grid enterprises should actively cooperate in the calculation, settlement, information statistics and other related work of coal and electricity capacity charges. Power generation enterprises shall timely declare the maximum output of units according to regulations as the basis for the calculation, settlement and assessment of capacity electricity charges. The National Development and Reform Commission strengthens the regulation and supervision of coal prices, strengthens the guidance on the signing and performance of medium and long-term contracts for coal and electricity, promotes the formation of electricity prices that are fully competitive and reasonably reflect fuel costs, guides the prices of coal and electricity to remain basically stable, and ensures the smooth implementation of the mechanism.
(2) Strengthen policy coordination. All localities shall accelerate the construction and development of the power market, improve the market trading rules, promote the effective formation of the electricity price through the market mode, and play a synergistic role with the coal-fired power capacity price mechanism; where the peak-shaving compensation mechanism has been established, the peak-shaving demand of the system and the operating conditions of coal-fired power enterprises after the implementation of the capacity price mechanism shall be carefully evaluated, and the compensation standards for paid peak-shaving services shall be adjusted accordingly. Where the electricity spot market operates continuously, the capacity price mechanism of coal-fired power specified in this Notice may be referred to to study and establish the capacity price mechanism of power generation side suitable for the operation of the local electricity market; after the establishment of the capacity price mechanism of power generation side, the capacity price mechanism of coal-fired power units in the province shall not be implemented.
(3) Close follow-up and monitoring. Provincial price authorities, in conjunction with relevant local departments, should actively follow up the implementation of the coal and electricity capacity tariff mechanism, closely monitor the dynamics and price changes of the coal and electricity markets, and timely reflect problems. Power grid enterprises shall collect and reflect the electricity charges of coal-fired power capacity separately, and submit quarterly information to provincial price authorities and relevant authorities on the settlement and deduction of electricity charges of local coal-fired power units, the calculation and implementation of the sharing level of electricity per kilowatt hour for industrial and commercial users, and the settlement of electricity charges.
(4) Strengthen publicity and guidance. All localities should strengthen policy interpretation, publicity and guidance, guide power grid enterprises and power generation enterprises to fully explain to users the importance of establishing a coal-fired capacity tariff mechanism to play a supporting and regulating role in coal-fired power, better guarantee the safe and stable supply of electricity, and promote the green and low-carbon transformation of energy, actively respond to social concerns, and enhance understanding and support from all sides.
This Circular shall be implemented as of January 1, 2024. In case of major changes in the market situation during the implementation of the policy, the National Development and Reform Commission and the National Energy Administration will make timely assessment and adjustment.
Attachment: Provincial Power Grid Coal Power Capacity Tariff Table
National Development and Reform Commission
National Energy Administration
November 8
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