Basic Rules for the Operation of Electricity Markets (Order No. 10 of the Electricity Regulatory Commission)

---- Order to announce the "Basic Rules for the Operation of the Electricity Market"

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The Basic Rules for the Operation of the Electricity Market has been adopted by the Chairman of the Office of the State Electricity Regulatory Commission on September 28, 2005. It is hereby promulgated and will be implemented as of December 1, 2005. The basic rules of the electricity market operation Chapter I

The first article is to regulate the law of the electricity market, to protect the legitimate rights and interests of the main body of the electricity market, and to ensure the unity, openness, competition and order of the electricity market. These rules are formulated in accordance with the Electricity Regulatory Regulations and relevant laws and administrative regulations. Article 2 These Rules shall apply to the supervision and administration of the regional power market operations in the third national electric power supervision committee and its dispatched institutions (hereinafter referred to as electric power regulatory agencies). Chapter II Market Subjects and Trading Institutions Article 4 The main body of the power market includes power generation enterprises, transmission enterprises, power supply enterprises that have obtained power business licenses in accordance with relevant regulations, and users approved by the power regulatory agencies. The power dispatching and trading institutions include regional power dispatching trading centers and power dispatching agencies in the autonomous regions and municipalities directly under the central government. The power supply enterprises referred to in the preceding paragraph include independent power distribution enterprises; the regional power dispatching trading centers referred to in the preceding paragraph include regional power dispatching centers and regional power trading centers. Article 5 Power generation enterprises, transmission enterprises and power supply enterprises may apply for entry into the regional power market and participate in regional power market transactions only after obtaining the power business license in accordance with relevant regulations. Users can participate in regional power market transactions after approval by the power regulatory agency. Article 6 The power dispatching and trading institution is responsible for power dispatching, power market trading, and metering and settlement. Chapter III Types and Methods of Transactions Article 7 Types of transactions in the electricity market include energy trading, transmission rights trading, and auxiliary service transactions. Article 8 Energy trading shall be conducted in the manner of contract trading, spot trading, futures trading, etc. The power contract transaction refers to the power transaction conducted by the main body of the power market through the signing of the power sale contract. The electricity price stipulated in the power sale contract may be formed by negotiation between the two parties, generated through market bidding or determined in accordance with relevant state regulations. The spot trading of electric energy is a real-time energy transaction organized by a power generation enterprise through the market bidding for the next day or the next 24 hours of energy trading, and for ensuring the instantaneous balance of power supply and demand. The electric energy futures trading refers to the electric energy trading conducted by the main body of the electric power market at the prescribed trading place by signing a futures contract. An energy futures contract is an agreement to purchase or sell electrical energy at a determined price at a certain point in the future. The energy trading is mainly based on contract transactions, supplemented by spot trading, and timely trading of futures. Article 9 The electricity market shall have the prescribed conditions and, with the approval of the power regulatory agency, may conduct transmission rights transactions and auxiliary service transactions. Chapter IV Energy Trading Article 10 The energy contract transaction may be organized and implemented by the power dispatching trading institution, or may be negotiated by both parties of the power market. Article 11 The power dispatching and trading institution shall decompose the contracted electricity according to the regional electricity market operating rules, and its decomposition method shall be disclosed to the main body of the electricity market. If the contract power is decomposed and needs to be modified for any reason, the power dispatching trading institution shall promptly notify the parties to the contract of the reasons. Article 12 A transmission enterprise shall, in accordance with the provisions of the law and national policies, give priority to signing a contract with a renewable energy power generation enterprise that has obtained a power business license according to law, and fully acquires its on-grid electricity. Article 13 The power dispatching and trading institution shall organize the spot trading of electric energy in accordance with the operating rules of the regional power market. Article 14 A power generation enterprise conducting a spot transaction of electric energy shall quote the price as a unit. Upon approval, multiple units of the same power plant can be priced in a centralized manner. Power generation companies consisting of multiple power plants may not concentrate on quotations. Power generation companies are prohibited from colluding with quotations. Article 15 The price formation mechanism of the electricity market shall be conducive to promoting fair and effective competition in the power market and facilitating the management of transmission resistance plugs. Article 16 All energy trading must be carried out after the safety check of the power dispatching trading institution. Chapter V Transmission Services Article 17 Transmission enterprises shall openly and open the transmission network to provide safe, high-quality and economical transmission services for the main body of the electricity market. Article 18 A power transmission enterprise shall strictly implement the power transmission price stipulated by the state and accept supervision and inspection by the power regulatory agency. Article 19 The management method of the transmission resistance plug shall be determined by the electric power regulatory agency according to the grid structure and the trading method of the electricity market. Article 20 The power market may organize the development of transmission rights transactions with the approval of the power regulatory agency for the need to circumvent the risk of resistance plugging. Chapter VI Auxiliary Services Article 21 The main body of the power market shall provide auxiliary services for maintaining voltage stability, frequency stability and power grid fault recovery in accordance with relevant regulations. Article 22 Ancillary services are divided into basic ancillary services and paid ancillary services. Basic ancillary services are ancillary services that the main body of the electricity market should provide free of charge. Paid-assisted services are other ancillary services provided by the main body of the electricity market outside of the basic ancillary services. The paid auxiliary service adopts a compensation mechanism in the initial stage of the construction of the electricity market, and a competitive mechanism is implemented after the power market is sound. Article 23 The specific contents, technical standards, methods of delivery, and assessment methods of ancillary services shall be separately prescribed by the State Electricity Regulatory Commission in conjunction with the relevant departments of the State Council. Article 24 Power dispatching and trading institutions shall regularly test the ability of the main body of the power market to provide auxiliary services. Test results should be published and reported to the electricity regulatory agency. When the main body of the power market cannot provide auxiliary services as required, it shall promptly report to the power dispatching trading institution and accept the assessment in accordance with relevant regulations. Chapter VII Energy Metering and Settlement Article 25 The main body of the power market shall install an electric energy metering device that complies with the national standards, and shall be put into use after being verified by the electric energy metering and testing institution. The electric energy measurement and testing institution referred to in these Rules refers to the electric energy measurement and detection institution that has been approved by the government's metrological administrative department and confirmed by both parties to the electric energy transaction. Article 26 The electric energy metering and testing institution shall periodically check the electric energy metering device. The main body of the electricity market may apply for checking the energy metering device. After checking, the error of the energy metering device may not reach the specified accuracy, and the expenses incurred by the power metering device shall be borne by the property owner of the energy metering device; if the error of the energy metering device reaches the specified accuracy, The costs incurred are borne by the applicant. Article 27 The electric energy transaction contract signed by both parties to the electric energy transaction shall specify the measurement point of the electric energy. The energy metering point is located at the demarcation point of the property rights of both parties to the transaction. If the property demarcation point cannot install the energy metering device, the two parties negotiate to determine the energy metering point. The electrical energy measured by the statutory or agreed metering points is used as the basis for the settlement of electricity tariffs. The main body of the electricity market bears the power loss and related responsibilities with the measurement point as the boundary. Article 28 The power dispatching and trading institution shall establish and maintain an energy metering database and publish relevant energy metering data to the main body of the power market in accordance with relevant regulations. Article 29 The settlement of the power market includes settlement of power contract transactions, settlement of power spot transactions, settlement of energy futures transactions, settlement of auxiliary services, settlement of compensation funds, and liquidated damages. Article 30 The main body of the electricity market shall settle the electricity bill in accordance with the electricity bill settlement method and time limit stipulated in the regional power market operation rules. Chapter VIII System Security Article 31 The main body of the electric power market shall implement the regulations and regulations concerning the operation and management of the power grid, obey the unified dispatch, strengthen the maintenance of the equipment, equip the necessary safety facilities according to the grid-connected protocol, provide auxiliary services, and maintain the power system. Safe and stable operation. Article 32 The power dispatching and trading institution shall strictly implement the power dispatching rules, reasonably arrange the system operation mode, and timely forecast or notify the power market main body of information affecting the safe operation of the power system, prevent grid accidents, and ensure the safe operation of the power grid. Article 33 The power dispatching and trading institution shall be responsible for the security check of the electricity market transactions, and announce the checking methods and parameters. Article 34 The power dispatching and trading institution shall make overall arrangements for the maintenance of power equipment according to the power supply and demand situation, equipment operating conditions, safety constraints and system operating conditions. The method for assessing the operation of the generator set shall be examined and approved by the power regulatory agency and executed by the power dispatching and trading institution. Article 35 The construction of the technical support system for the power market shall comply with the prescribed performance indicators. The power market technical support system includes functional modules such as energy management, transaction management, energy metering, settlement system, contract management, quotation processing, market analysis and forecasting, transaction information, and supervision system. Article 36 The construction of the technical support system for the power market shall be based on the operating rules of the electricity market. In the same power market, the technical support system for the power market shall be uniformly planned, unified, unified, managed, and maintained separately. The power market technical support system should be updated in a timely manner according to the needs of the development of the power market. The power regulatory agency shall verify the planning and design plan for the technical support system of the power market. The main body of the power market shall be equipped with relevant supporting facilities and be responsible for daily maintenance and management. Chapter IX Risk Management Article 37 The competent pricing department of the State Council and the State Electricity Regulatory Commission shall formulate the highest and lowest price limits for the electricity market and maintain the safety of the electricity market. Article 38 According to the needs of maintaining the normal operation of the electricity market and the safety of the power system, the power regulatory agency shall formulate measures for intervention and suspension of the power market, and stipulate the conditions for the intervention and suspension of the power market and related treatment methods. Article 39 Before the opening of the user side, the relevant departments of the State Council and the State Electricity Regulatory Commission shall establish a power price balance mechanism and formulate specific measures for the linkage of sales price and feed-in tariff. Chapter X Information Disclosure Article 40 The main body of the power market shall provide information to the power dispatching and trading institutions in accordance with relevant regulations. Article 41 Power dispatching and trading institutions shall follow the principles of timeliness, truthfulness, accuracy and completeness and regularly disclose the information on the operation of the electricity market to the main body of the electricity market and the public. Article 42 The power regulatory agency shall formulate measures for the management of information release in the power market and supervise its implementation. Chapter XI Supplementary Provisions Article 43 Before the implementation of the power business license system, the qualifications of power companies to enter the power market shall be examined and approved by the power regulatory agencies. Article 44 The Regional Electricity Regulatory Commission of the State Electricity Regulatory Commission shall, in accordance with these Rules, formulate regional power market operation rules and report them to the State Electricity Regulatory Commission for approval. Article 45 These Rules shall come into force on December 1, 2005. The "Basic Rules for the Operation of Electricity Markets (Trial)" promulgated by the State Electricity Regulatory Commission on July 24, 2003 shall be abolished at the same time.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
From: Office of the Electricity Regulatory Commission

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