of the Development and Reform Commission
of Hainan Province on Publicly Soliciting Opinions on the Implementation Plan for Deepening the Market-oriented Reform of New Energy Grid Tariff in Hainan Province (Draft for Opinions) is to fully implement the spirit of the Third Plenary Session of the Twentieth Central Committee of the Communist Party of China. To coordinate energy security and green low-carbon development, deepen the innovation of power market mechanism and accelerate the construction of a new power system, according to the requirements of the Notice of the State Energy Administration of the National Development and Reform Commission on Deepening the Market-oriented Reform of New Energy Grid Tariff (Development and Reform Price No.2025 136), we will promote the full convergence of new energy grid tariff. To promote the high-quality development of the new energy industry, in light of the actual situation of our province, our committee drafted the Implementation Plan for Deepening the Market-oriented Reform of the Electricity Price of New Energy in Hainan Province (Draft for Opinions). It is now open to the public for comments. The public consultation period is from July 10, 2025 to July 24, 2025. Relevant units and people from all walks of life are welcome to make comments and suggestions. (E-mail: jgc_fgw@hainan.gov. ) I. General Objectives With market-oriented reform as the core, the on-grid price of new energy will be fully formed by the market, a sustainable price settlement mechanism adapted to the characteristics of Hainan's new energy development will be established, and measures will be taken according to the stock and incremental projects. We will improve the relevant supporting mechanisms after new energy enters the market, stabilize the reasonable expectations of enterprises, promote the healthy development of the industry, and help achieve the goal of "double carbon". Two, the basic principle is to deepen reform. We should adhere to the direction of market-oriented reform, deepen the reform of energy management system, attach equal importance to efficiency and fairness, implement the price responsibility of the main body of the new energy market, promote the full entry of new energy into the power market, and improve the market trading and pricing mechanism adapted to the development of new energy. Insist on classified measures. Classified measures should be taken to distinguish between stock and increment, integrate the affordability of power users and the needs of economic development, maintain the smooth transition of policies, maintain the enthusiasm of market participants in investment and construction, timely carry out effect evaluation, and follow up and improve policies. Adhere to security and stability. In the process of policy implementation, we should do a good job of policy convergence, fully consider the impact on the construction of the power market, do a good job of market supply and demand forecasting and electricity price level calculation of various business entities, prevent market risks, and ensure the safe and stable operation of the power system. 3. Main tasks (1) Promoting the formation of new energy grid price from the market in an all-round way 1. From January 1, 2026, all new energy (all wind power and solar power, the same below) projects in the province will enter the power market. The price of electricity on the grid is formed through market transactions. The way for new energy projects to participate in market transactions shall be implemented in accordance with the trading rules of the Southern Regional Electricity Market. Qualified distributed and decentralized new energy sources are encouraged to participate in market transactions after aggregation and quotation, and those who have not reported or quoted to participate in the market shall participate in market transactions as price recipients by default. Subsequently, according to the market construction situation, all kinds of power supply will be gradually liberalized to enter the market to participate in the transaction. 2. New energy projects can participate in annual, multi-month, monthly, weekly and multi-day medium and long-term transactions, allowing both suppliers and demanders to independently determine the volume, price and curve of medium and long-term contracts, without restricting the proportion of medium and long-term contracts. New energy projects can fairly participate in the real-time market. We will accelerate the improvement of the mechanism for voluntary participation in the day-ahead market. 3. Relax the spot market price limit appropriately, and determine the upper limit of the spot market declaration and clearing price by taking into account the current comprehensive cost of fuel in the province and the affordability of users; The lower limit of declaration and clearing price shall be determined by taking into account the green certificate income and financial subsidies that new energy can obtain outside the electricity market, and shall be adjusted in time according to the market operation. For new energy projects that accept the price formed by the market, the settlement price shall be determined according to the real-time market time-sharing price of the node. See the attached table for specific parameters such as the upper and lower price limits. 4. When the spot market is not in continuous operation, the cost of ancillary services market is shared by the power generation side (excluding distributed new energy); During the continuous operation of the spot market, the cost of the ancillary service market is shared by the electricity consumption of industrial and commercial users and the on-grid electricity that does not participate in the transaction of the electric energy market in Hainan Province, and the on-grid electricity of new energy that participates in the transaction of the electric energy market in Hainan Province is no longer shared. If the state promulgates the latest cost sharing policy for ancillary services, its provisions shall be followed. (2) Establish and improve the institutional mechanism to support the high-quality development of new energy 1. Establish the mechanism of price difference settlement outside the market. When the spot is in continuous operation, the electricity included in the mechanism will no longer participate in the declaration, clearing and settlement of medium and long-term transactions, green power transactions and other forms in the initial stage. For the new energy price level included in the mechanism (hereinafter referred to as the mechanism price), 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. Projects participating in the mechanism electricity price can independently apply to Hainan Power Grid Company for reducing the proportion of the next year's mechanism electricity before the end of October each year, and the reduced proportion can not be re-applied for inclusion in the scope of the mechanism electricity price. 2. (1) Scope of stock items. New energy projects put into operation before June 1, 2025 (that is, all the approved and filed capacity of the project is completed and connected to the grid, the same below). (2) Power scale. For projects put into operation before 2023, all on-grid electricity shall be included in the mechanism electricity; for projects put into operation in 2023, the proportion of mechanism electricity shall be 90%; for projects put into operation in 2024, the proportion of mechanism electricity shall be 85%; for projects put into operation from January 1, 2025 to May 31, 2025, the proportion of mechanism electricity shall be 80%. (3) Mechanism electricity price. The original competitive price shall be executed for the competitive grid-connected projects, and the other projects shall be executed according to the provincial coal and electricity benchmark price of 0. (4). It is determined according to 20 years minus the time when the project has been put into operation as of December 31, 2025. 3. (1) Incremental project scope. New energy incremental projects put into operation on June 1, 2025. (2) Bidding time. Every year, the incremental projects that have been put into operation and put into operation in the next year and have not been included in the implementation scope of the mechanism are organized to participate in the bidding of the incremental project mechanism. In October 2025, the first bidding for incremental projects will be carried out, and the main scope of bidding is centralized and distributed new energy projects with full capacity grid connection from June 1, 2025 to the end of December 2026 (excluding competitive allocation projects with clear electricity prices). The next year's incremental project mechanism bidding work will be carried out in October every year. (3) Bidding classification. Considering the differences in construction cost and operation characteristics, the initial stage is divided into offshore wind power projects, onshore wind power projects and (4) Power scale. The scale of electricity generated by the first bidding shall be appropriately linked up with the proportion of non-marketization of new energy in 2025. During the period from June 1, 2025 to December 31, 2026, the newly built offshore wind power projects shall be determined by 80% of the annual on-grid electricity, and the onshore wind power and photovoltaic projects shall be determined by 75% of the annual on-grid electricity. The scale of electricity added to the mechanism every year is dynamically adjusted according to the weight of non-water renewable energy consumption responsibility issued by the state and the affordability of users. In order to guide the full competition of new energy, the lower limit of declaration adequacy rate is set when bidding. Before the price is cleared, the declaration adequacy rate is tested. When the scale of electricity declared by the bidding entity fails to meet the requirements of the lower limit of declaration adequacy rate, the total scale of bidding electricity is automatically reduced until the requirements of declaration adequacy rate are met. Declared Adequacy Ratio = ∑ Declared Electricity Quantity of the Bidding Entity/Total Scale of the Bidding Electricity Quantity (5) Upper Limit of Bidding Electricity Quantity. The scale of the declared electricity quantity of a single project shall not be higher than total on-grid electricity quantity. In 2025, 85% of the total on-grid electricity quantity shall be declared temporarily. In the future, the upper limit of the declared electricity quantity of a single project shall be specified when the bidding notice is issued. (6) Upper and lower limits of mechanism electricity price bidding. The upper limit of bidding shall be determined by comprehensively considering the factors such as reasonable cost and benefit, green value, supply and demand situation of power market, and the affordability of users, and the maximum shall not be higher than 0. When the bidding is organized by classification, the upper and lower limits of bidding for each type of project shall be the same. See the attached table for details. (7) Mechanism electricity price. When bidding, the selected projects shall be determined according to the quotation from low to high, and the mechanism price shall be determined in principle according to the highest quotation of the selected projects, but not higher than upper limit of bidding. When the price is the same, the priority shall be determined according to the time of declaration until the total scale of bidding is met, and the proportion of the last project declared is completed in full. (8) Time limit for execution. Offshore wind power projects: 2014; onshore wind power projects and photovoltaic projects: 2012, after which the mechanism tariff will not be implemented. (9) Bidding mechanism. Hainan Provincial Development and Reform Commission and the Southern Regulatory Bureau of the National Energy Administration entrust Hainan Electric Power Trading Center to organize and carry out bidding transactions of sustainable development price mechanism for incremental new energy projects throughout the province in accordance with this scheme, and the bidding rules shall be implemented after approval by the Hainan Provincial Development and Reform Commission. 4. For offshore wind power projects that have carried out competitive allocation but have not been put into operation before May 31, 2025, the mechanism tariff shall be implemented in accordance with the provisions of the competitive allocation scheme, and the initial mechanism electricity scale shall be 80% of the on-grid electricity. If there is no agreement on a reasonable life cycle, the implementation period of the mechanism is 20 years. 5. The time of putting into operation (full capacity grid connection, the same below) shall be determined as follows: the centralized new energy project shall confirm the time of putting into operation according to the time of grid connection specified in the power business license; The commissioning time of distributed new energy projects is determined by the actual grid-connected power transmission time, and the grid-connected acceptance time of the last batch of projects that meet the capacity of the record certificate recorded by the grid enterprises shall prevail. The basis for putting into operation is based on whether the grid-connected capacity is consistent with the filing capacity. If the two are inconsistent, it is allowed to go through the change filing procedures. 6. New energy projects that have been put into operation before June 1, 2025 and have been upgraded without capacity increase shall be regarded as stock projects and shall be implemented in accordance with the relevant electricity price policies for new energy stock projects. From June 1, 2025, if a stock project applies for grid-connection of new capacity, the new capacity part shall be independently filed with the territorial government as a new project, and the new project shall participate in the mechanism price bidding as an incremental project. 7. Transitional period means the period from 1 June 2025 to 31 December 2025. During the transition period, the stock and incremental centralized projects shall be implemented with reference to the Electricity Market Trading Scheme of Hainan Province in 2025; the stock and incremental distributed projects shall be purchased by the power grid enterprises in accordance with the current price policy. For incremental projects put into operation during the transition period, the actual operation time before 2026 will be deducted from the implementation time of the mechanism after they participate in the mechanism price bidding. 8. (1) When the electricity spot market is not in continuous operation, the average market transaction price is determined according to the weighted average price of medium and long-term market transactions of similar projects in our province (the initial project type is divided into offshore wind power, onshore wind power and photovoltaic). If there is no similar project in the month, it shall be determined by the weighted average price of all medium and long-term transactions on the power generation side in the month. (2) During the continuous operation of the electricity spot market, the average market transaction price is determined according to the monthly weighted average price of the real-time market of the nodes where the similar projects on the power generation side of our province are located. 9. The electricity quantity incorporated into the mechanism for new energy projects shall be settled monthly by the power grid enterprises according to the mechanism electricity price, and the settlement cost of the difference between the mechanism electricity price and the average market transaction price shall be included in the operation cost of the system, which shall be shared or shared by all industrial and commercial users. The name of the cost subject is "New Energy Sustainable Development Price Settlement Mechanism Price Difference Settlement Fee". The mechanism electricity quantity is determined according to the proportion of the actual monthly grid electricity quantity of the project and its mechanism electricity quantity. Price difference settlement mechanism electricity charge = actual grid electricity quantity × mechanism electricity quantity ratio × (mechanism electricity price-average market transaction price) 10. New energy projects that have been included in the mechanism will automatically withdraw after the expiration of the implementation period of the mechanism, and may voluntarily apply for withdrawal within the implementation period. If the implementation of new energy projects expires or voluntarily withdraws within the time limit, they will no longer be included in the scope of the implementation of the mechanism. (3) Strengthen policy coordination 1. Improve the rules of green power trading, carry out bilateral negotiations and listing transactions for green power trading within the province, specify the price of electricity and the price of corresponding green power certificates at the declared and transacted prices respectively, and do not separately organize centralized bidding and rolling matching transactions. The electricity included in the sustainable development price settlement mechanism will no longer participate in the green electricity transaction, and will not obtain the green certificate income repeatedly, and the corresponding green certificate will be transferred to the provincial special green certificate account. 2. After the new energy enters the market in an all-round way, the priority power generation (excluding the new energy in the province) with guaranteed quantity and price will continue to be purchased by Hainan Power Grid Company according to the current price mechanism, and the insufficient part of the prio rity power consumption will be guaranteed by Hainan Power Grid Company to participate in the centralized bidding transaction. To participate in market clearing as a price taker in the form of quotation without quotation. In case of continuous spot operation, the deviation electricity quantity generated by the agent purchasing electricity shall be settled according to the spot market price. 3. Improve the statistical assessment method of new energy utilization rate. When new energy participates in market transactions, due to factors such as quotation (quotation is too high or not quoted), part of the electricity can not be connected to the real-time market, which is not regarded as abandoned wind and photovoltaic power, and is not included in the statistics and assessment of the utilization rate of new energy in our province.
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