Two departments release new regulations, for the first time incorporating mechanisms such as regularized trading across power grid operation areas.

The National Development and Reform Commission and the National Energy Administration recently released the "Basic Rules for the Medium and Long-Term Electricity Market", for the first time incorporating mechanisms such as routine transactions across grid management areas and flexible inter-provincial transactions within the region. At the same time, the "Rules" also systematically standardize various aspects of the electricity medium and long-term trading business, and detail the risk prevention and control requirements of the electricity market. In addition, the "Rules" also promote the extension of medium and long-term transactions to "longer" and "shorter" periods, encourage the conduct of multi-year transactions, strengthen the role of medium and long-term transactions as a "ballast", and aim to enhance the flexibility of the medium and long-term market by further shortening transaction periods and increasing transaction frequency, promote the coordinated connection with the spot market.