Two departments: coordinate the development of the long-term electricity market and the electricity spot market.

According to the cninfo app, on December 26th, the National Development and Reform Commission and the National Energy Administration issued the "Basic Rules for the Long-Term Electricity Market". It mentions coordinating the development of the long-term electricity market and electricity spot market, ensuring seamless connection in terms of transaction timing, transaction clearing, market settlement, and leveraging the fundamental role of the long-term electricity market in balancing long-term supply and demand of electricity, stabilizing the operation of the electricity market, etc. It also aims to adapt to the fluctuating characteristics of new energy output, achieve flexible continuous trading, promote the mechanism of multi-year power purchase agreements, and stabilize long-term consumption space.