On October 20, the Hunan Development and Reform Commission issued a circular on the issuance of the Implementation Plan for Deepening the Market-oriented Reform of New Energy Grid Tariff and Promoting the High-quality Development of New Energy in Hunan Province.
The notice clearly States that 100% of the on-grid electricity corresponding to the poverty alleviation capacity of the stock project and the photovoltaic poverty alleviation project is included in the mechanism electricity; The mechanism electricity price for distributed incremental projects is determined according to 30% of the expected new on-grid power of wind power and photovoltaic power in that year. In 2025, the upper limit of bidding is 0.38 yuan/kWh, and the lower limit is 0. 2025. The implementation period of bidding mechanism is 10 years . Hunan Provincial Energy Bureau 0HTM L0 UNK1 2 National Energy Administration Hunan Regulatory Office 0 HTML0 UNK1 32025 October 17 0 HTML0 UNK1 4 Implementation Plan for Deepening the Market-oriented Reform of New Energy Grid Tariff and Promoting the High-quality Development of New Energy in Hunan Province 0 HTML0 UNK1 5 To implement the National Development and Reform Commission, The Notice on Deepening the Market-oriented Reform of New Energy On-grid Tariff and Promoting the High-quality Development of New Energy (FGJG [2025] No.136) issued by the National Energy Administration requires that the market-oriented reform of new energy on-grid tariff be smoothly and orderly promoted, and this implementation plan is formulated in light of Hunan's actual situation. 0 HTML0 UNK1 6 I. Promoting the formation of new energy on-grid price by the market 0 HTML0 UNK1 7 All the on-grid electricity of new energy projects (centralized wind power, decentralized wind power, centralized photovoltaic and distributed photovoltaic, the same below) in the province will enter the electricity market, and the on-grid price will be formed through market transactions. 0 HTML0 UNK1 8 New energy projects can be quoted to participate in market transactions, and can also accept the price formed by the market. Among them, distributed photovoltaic projects can choose to participate in market transactions directly or collectively, and those who do not choose to participate in market transactions as price recipients by default. 0 HTML0 UNK1 9 The on-grid price and trading mechanism of new energy electricity involved in inter-provincial and inter-regional transactions shall be implemented in accordance with the relevant policies of inter-provincial and inter-regional power transmission. 0 HTML 0 UNK2 2. Establishing an institutional mechanism to support the high-quality development of new energy 0 HTML 0 UNK2 1 (1) Establishing a price settlement mechanism for sustainable development of new energy 0 HTML 0 UNK2 2. After new energy participates in electricity market transactions, a differential settlement mechanism is established outside the market. The electricity scale, mechanism price and implementation period of the new energy projects included in the mechanism are clearly defined. For the electricity included in the mechanism, if the average market transaction price is lower or higher than mechanism price, the power grid enterprise shall carry out the differential settlement according to the regulations, and the settlement cost shall be included in the system operation cost. 0 HTML0 UNK2 3 (2) Clarify the scale of power generation, the mechanism price and the implementation period of the new energy sustainable development price settlement mechanism 0 HTML0 UNK2 41. The mechanism price is 0. The implementation period is based on the number of hours of reasonable utilization of the full life cycle of the project (wind power 36000 hours, Photovoltaic 22000 hours) and 20 years after the project has been put into operation, the earlier one will be determined, and the mechanism price will not be implemented after the expiration. 0 HTML0 UNK2 5 (2) Wind power and centralized photovoltaic projects with access voltage level of 110kV and above: from January 1, 2021 to May 31, 2025, transitional measures will be implemented for grid parity, and 60% of on-grid electricity will be included in the mechanism electricity. The electricity price under the mechanism is: RMB0.37/kWh for wind power projects and RMB0.0/kWh for centralized photovoltaic projects. 0 HTML 0 UNK2 62. The scale of electricity newly added to the mechanism each year is determined according to the completion of the annual non-hydropower renewable energy power consumption responsibility weight issued by the state, as well as the affordability of users and other factors. If it exceeds the weight of consumption responsibility, the scale of electricity included in the mechanism in the next year shall be reduced appropriately; if it is not completed, the scale of electricity included in the mechanism in the next year shall be increased appropriately. In 2025, the scale of wind power and photovoltaic power added to the mechanism will be determined according to 30% of the expected new on-grid power of wind power and photovoltaic power in that year. In order to guide new energy enterprises to compete fully and reduce the cost of energy consumption in the whole society, the lower limit of declaration adequacy rate and the upper limit of electricity consumption for single project application to be included in the mechanism are set, which are 125% and 80% respectively in 2025. The above parameters for 2026 and beyond are specified in the annual bidding notice. The annual bidding work in 2025 will be organized in two batches, and the bidding work will be carried out in October every year in principle from 2026. 0 HTML0 UNK2 7 (2) Mechanism tariff. Projects that have been put into operation and will be put into operation within the bidding cycle and have not been included in the implementation scope of the mechanism voluntarily participate in the bidding. Distributed photovoltaic projects can participate in bidding independently or by entrusting distributed aggregators. When bidding, the selected projects shall be determined according to the quotation from low to high, and the mechanism price shall be determined according to the highest quotation of the selected projects, but not higher than upper limit of bidding. The upper limit of bidding shall be determined in consideration of factors such as reasonable cost and benefit, green value, supply and demand situation of power market, and affordability of users; the lower limit of bidding shall be set in consideration of cost factors and avoidance of disorderly competition at the initial stage. The upper limit of bidding in 2025 is 0.38 yuan/kWh, and the lower limit is 0.2026. The upper and lower limits of bidding in 2026 and beyond are specified in the annual bidding notice. 0 HTML0 UNK2 8 (3) Execution period. According to the average period of initial investment recovery of similar projects, the implementation period of bidding mechanism in 2025 is 10 years. The implementation period of the bidding mechanism in 2026 and beyond is specified in the annual bidding notice. For projects that have been put into production when the mechanism is selected, the mechanism shall be implemented from the first day of the first month of the bidding cycle; for projects that have not been put into production when the mechanism is selected, the mechanism shall be implemented from the first day of the next month of the production date declared by the project. If the selected project is not put into operation on schedule, the machine-made electricity before the actual operation will automatically become invalid, and the implementation period will not be extended. 0 HTML0 UNK2 9 3. Confirmation method of full capacity and production date of new energy projects 0 HTML0 UNK3 0 The production capacity of centralized wind power and centralized photovoltaic power shall be subject to the capacity confirmed by the Provincial Energy Bureau, and the production date shall be subject to the "production date of generating units" specified in the power business license. If a single project applies for the power business license for several times, the latest date shall prevail; In principle, the production capacity and production date of decentralized wind power and distributed photovoltaic power shall be in accordance with the UNK3 of State Grid Hunan Electric Power Co., Ltd. Marketing 2.0 HTML0 14. Those who do not participate in the declaration shall be executed according to the proportion of the previous year by default. If the distributed photovoltaic stock project has not signed a price difference settlement agreement with the grid enterprise, it shall be implemented by default according to the upper limit of the proportion of mechanism electricity stipulated by the policy. 0 HTML0 UNK3 25. New energy projects that expire or voluntarily withdraw within the time limit will no longer be included in the scope of the implementation of the mechanism. 0 HTML0 UNK3 3 (III) Clarify the settlement method of the new energy sustainable development price settlement mechanism 0 HTML0 UNK3 41. The price difference settlement fee is the difference fee between the mechanism electricity price and the average market transaction price, which is included in the system operation fee. The operating cost of the system increases the subject of "price difference settlement cost of new energy sustainable development price settlement mechanism", which is shared or shared by all users. The average market transaction price is provided by the trading center on a monthly basis.Before the continuous trial operation of the electricity spot market, the average market transaction price shall be determined according to the weighted average price of similar projects (wind power, photovoltaic) in the monthly medium and long-term transactions on the power generation side; after the continuous trial operation of the electricity spot market, the average market transaction price shall be determined according to the weighted average price of similar projects (wind power, photovoltaic) in the monthly real-time market on the power generation side. 2. For new energy projects, if the settled mechanism electricity quantity in the current year reaches the annual mechanism electricity quantity scale, the excess part in the current month and the subsequent months will not be subject to the mechanism electricity price. If the annual mechanism electricity quantity scale is still not reached at the end of the year, the shortfall mechanism electricity quantity will not be rolled over across the year. 3. Improve the market trading mechanism adapted to the high-quality development of new energy (1) Improve the medium and long-term market trading and price mechanism , moderately relax the requirements for the proportion of medium and long-term contracts on the user side, and allow both suppliers and demanders to reasonably determine the volume, price and curve of medium and long-term contracts in accordance with the characteristics of new energy output. The mechanism electricity quantity shall be included in the proportion of medium and long-term contract signed by the user side, and the proportion of other contracted electricity quantity by the user side shall be reduced accordingly; the upper limit of the declared electricity quantity for medium and long-term transaction of new energy shall be determined according to the on-grid capacity after the rated capacity is deducted from the corresponding capacity of the mechanism electricity quantity. New energy power generation enterprises are encouraged to sign multi-year power purchase agreements with users. (2) Improve the trading and pricing mechanism of the spot market, improve the trading rules of the spot market in a timely manner in accordance with the requirements of the state, participate in the real-time market for all new energy on-grid electricity, and accelerate the realization of voluntary participation in the day-ahead market. Considering the supply and demand of electricity and the operation of the market, the upper and lower limits of the declared price in the spot market should be adjusted in time. The upper limit of the declared price should be determined by considering the peak price level of industry and commerce in our province, and the lower limit of the declared price should be determined by considering other factors such as the income of new energy outside the electricity market. (3) To improve the green electricity green certificate trading and price mechanism , the declaration and transaction price of green electricity trading should specify the price of electricity energy and the corresponding green electricity certificate price respectively, and no separate centralized bidding and rolling matching transactions should be carried out. The amount of electricity included in the mechanism is guaranteed by the mechanism price, and the corresponding amount of electricity will no longer participate in the green electricity transaction, and the green certificate income will not be obtained repeatedly. The green certificate income of the green electricity transaction quantity is determined according to the principle of taking the smaller of the green electricity contract quantity of the current month, the remaining on-grid electricity quantity deducted from the mechanism electricity quantity, and the electricity consumption of power users. (4) Improve the market transaction and price mechanism of ancillary services, optimize the price mechanism of ancillary services, and reasonably determine the price ceiling of ancillary services. After the continuous operation of the electricity spot market, the fees for frequency modulation and reserve ancillary services, which conform to the provisions of the Notice of the National Development and Reform Commission on Establishing and Improving the Price Mechanism of the Electricity Ancillary Services Market (Development and Reform Price No.2024), shall, in principle, be shared by the electricity consumption of users and the electricity on the grid that has not participated in the electricity market transactions. The new energy grid electricity involved in the provincial electricity market transactions will no longer be apportioned. The upper limit of the price of ancillary services, the method of apportionment and the proportion of apportionment shall be specified separately. 4. Safeguard measures (1) Strengthen organization and implementation. The Provincial Development and Reform Commission should strengthen overall coordination, publicize and interpret policies, respond to social concerns in a timely manner, optimize policy implementation, and continuously enhance the guiding role of market price signals in the development of new energy. Provincial Energy Bureau actively promotes new energy projects to gradually adapt to market competition, and does a good job in new energy projects and capacity identification. Hunan Energy Regulatory Office will work with relevant departments to strengthen market supervision, ensure fair participation in new energy transactions, and promote the smooth operation of the market. State Grid Hunan Electric Power Co., Ltd. has done a good job in contract signing, bidding implementation, electricity fee settlement and other work, and collected the results of the implementation of the new energy sustainable development price settlement mechanism separately. (2) Strengthen policy coordination. To strengthen the coordination of reform and agency power purchase, power grid enterprises can purchase new energy as the source of agency power purchase through market-oriented way. To strengthen the coordination of reform and market, new energy is not included in the statistics and assessment of new energy utilization rate because of factors such as quotation after participating in the market. Strengthen the coordination of reform and optimization of the environment, resolutely correct the behavior of improper intervention in the electricity market, do not unreasonably allocate costs to new energy, do not allocate new energy projects that (3) Do a good job of follow-up evaluation. All localities should closely follow the fluctuation of market prices, changes in the cost and income of new energy power generation, and the level of electricity prices for end-users, carefully assess the impact of the reform on the development of the industry and the operation of enterprises, and timely summarize the results of the reform. According to the national reform plan, the price settlement mechanism for sustainable development of new energy should be evaluated and optimized in a timely manner, and the opportunity to withdraw should be chosen when conditions are ripe. This scheme will be implemented from January 1, 2026. If the current relevant policies are inconsistent with this scheme, this scheme shall prevail. During this period, if the national policy is adjusted, it shall be implemented in accordance with the national regulations.
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