After the implementation of the capacity price mechanism to provide full capacity cost compensation for the generation side, the lower limit of the spot market bid price is set at 0.04 yuan/kWh, and the upper limit is set at 0.5 yuan/kWh; the lower limit of the clearing price is set at 0.04 yuan/kWh, and the upper limit of the clearing price is set at 1 yuan/kWh. The spot market price limit will be dynamically adjusted according to national policies and the actual operation of our province's power market.

1. Existing new energy projects put into operation before June 1, 2025

(1) The electricity volume included in the mechanism is 15.4 billion kWh.

(2) The mechanism price is 0.3078 yuan/kWh.

(3) The implementation period is determined by the earlier of the year corresponding to the remaining reasonable utilization hours of the project's full life cycle by the end of May 2025 and the year corresponding to the completion of 20 years of operation; if the reasonable utilization hours of the full life cycle cannot be determined, it is determined according to the completion of 20 years of operation. After the implementation period expires, the mechanism electricity volume corresponding to the new energy project will be automatically deducted from the provincial mechanism electricity volume.

(4) The commissioning time of new energy projects is the time when the approved (recorded) capacity is fully completed and connected to the grid. Among them: for centralized photovoltaic, centralized wind power, distributed wind power, and concentrated solar power projects, the grid connection date specified in the power business license is used as the commissioning time; for distributed photovoltaic projects, the grid connection date in the power grid enterprise marketing system is used as the commissioning time.

(5) The on-grid electricity of poverty alleviation, franchise, distributed photovoltaic, flat-price demonstration, and concentrated solar power projects is fully included in the mechanism electricity volume; distributed wind power and wind power projects approved by the National Energy Administration (No. Guonengxineng [2014] 541), and guaranteed flat-price projects (referring to new energy grid-connected projects approved in Gansu Province before December 31, 2021, that do not enjoy financial subsidies) are included in the mechanism electricity volume according to the annual electricity generation utilization hours of 1800 hours for wind power and 1160 hours for photovoltaic; the remaining mechanism electricity volume is allocated proportionally among other existing new energy projects according to installed capacity.

(6) For new energy projects that enjoy financial subsidies, the subsidy standard within the reasonable utilization hours of the full life cycle continues to implement the original regulations.

2. Incremental new energy projects put into operation from June 1, 2025

(1) Power scale. The annual power scale newly incorporated into the mechanism is determined based on the completion of the national annual non-hydro renewable energy power consumption responsibility weight, and factors such as user affordability. If the consumption responsibility weight is exceeded, the power scale incorporated into the mechanism in the following year will be appropriately reduced; if it is not completed, the power scale incorporated into the mechanism in the following year will be appropriately increased. In the first year after the implementation of the notice, the proportion of the newly incorporated power scale to the grid-connected power of incremental renewable energy projects should appropriately connect with the existing non-market proportion of renewable energy to avoid excessive fluctuations. The amount of power applied by a single project to be included in the mechanism should not exceed 80% of its total grid-connected power.

(2) Mechanism electricity price. Newly built renewable energy projects that have been put into operation and will be put into operation within the next 12 months and have not been included in the mechanism's scope of implementation can participate in the bidding. Distributed photovoltaic projects can participate in the bidding independently or collectively. Aggregation operators should generally refer to the qualifications of power sales companies. Renewable energy enterprises submit the amount of electricity and electricity price for bidding within the upper and lower limits set by the Provincial Development and Reform Commission, and the selected projects are determined in ascending order of bids. The mechanism electricity price is generally determined according to the highest bid of the selected projects, but shall not exceed the upper limit of the bidding. If there are two or more projects selected at the mechanism electricity price, they will be allocated according to the proportion of the declared electricity; if the declared electricity does not reach the total scale of the mechanism electricity, it will be allocated according to the declared electricity.

(3) Implementation period. Determined as 12 years. For projects that have been put into operation at the time of selection, the start time is determined according to the first month of the public bidding cycle of the selected project. For projects that have not been put into operation at the time of selection, the start time is determined according to the project's declared commissioning time. If the selected project is not put into operation on schedule, the mechanism electricity coverage before the actual commissioning will automatically become invalid, and the implementation period will not be extended. If the actual commissioning time is 6 months or more later than the declared commissioning time, the bidding result of the project will be invalidated, and the investment enterprise of the project will be disqualified from bidding for all renewable energy projects for the next 3 years.

(4) In principle, the bidding for the next year will be organized before the end of October each year.

On July 11, the Zhejiang Provincial Development and Reform Commission and the Zhejiang Provincial Energy Bureau jointly issued the "Notice on Doing a Good Job in the Settlement of Matters Related to the Transition Period of Market-Oriented Reform of Renewable Energy On-Grid Electricity Prices".

The document proposes that the implementation plan and relevant detailed rules for the market-oriented reform of renewable energy on-grid electricity prices in Zhejiang Province will be issued soon.

From June 1, 2025 to before the issuance of the document, the transition period, the on-grid electricity price settlement plan is as follows:

I. Principles of On-Grid Electricity Price Calculation

1. Existing projects (full-capacity commissioning before June 1, 2025)

Continue to implement the current price policy and market rules.

2. Incremental projects (full-capacity commissioning from June 1, 2025 (inclusive))

On-grid electricity price: 90% coal-fired power benchmark price + 10% implementation of spot electricity price (divided into wind power and photovoltaic categories)

II. Definition of Full-Capacity Grid Connection Time

1. Projects that have been issued power business licenses: Based on the commissioning date of the unit indicated on the power business license; for projects registering multiple units, the date of grid connection of the last unit shall prevail;

2. Projects that do not need to be issued power business licenses: Based on the first grid connection time recorded by the power grid enterprise.

In addition, all types of renewable energy projects (including incremental projects) can participate in green electricity trading and settlement according to the current market rules.

On July 11, the Northeast Energy Regulatory Bureau mentioned that, Currently, the capacity of renewable energy units with primary frequency regulation capability in the Northeast region is less than 30% , and none of them have inertia support capabilities. When wind and solar resources are insufficient and the load increases rapidly, it is difficult to provide reliable and stable climbing support. Although new energy storage has excellent voltage and frequency regulation capabilities, it is affected by limited profit models and high investment costs, The development of new energy storage in the Northeast region is relatively slow, with an installed capacity of only 2.58 million kilowatts, accounting for 1% of the total capacity, and annual utilization hours of only 300 hours.

In October 2024, the Northeast power grid experienced a rapid decline in renewable energy output during the evening peak period, coupled with factors such as increased electricity consumption, The 40-minute climbing demand reached 8.01 million kilowatts, a rare occurrence in the past decade , even with the full use of climbing resources, Frequency fluctuations still occurred for a long time 。

The climbing demand of the Northeast power grid will continue to grow rapidly. It is estimated that by 2030, the installed capacity of renewable energy in the Northeast power grid will reach 250 million kilowatts, accounting for 58%; the maximum electricity consumption will reach 115 million kilowatts, a 40% increase from the current level. In the worst-case scenario, the maximum climbing demand for 30 minutes and 1 hour will reach 19.77 million kilowatts and 35.21 million kilowatts respectively, the climbing problem will become more frequent and serious, and the risk of low frequency in the system cannot be ignored.