To optimize resource utilization under a New Power System with highly distributed and diverse energy resources, an effective market along with proactive government management are needed. To support the construction of a New Power System, this report by the China Energy Research Society (CERS) analyzes resource allocation issues in the current power system with a view toward optimizing market mechanisms to promote the development of renewable energy, accelerate the transition of coal power, advance energy storage development, and utilize demand-side resources. Drawing from international experiences as applicable, this report provides recommendations for innovating market mechanisms under a New Power System. NRDC supported the China Energy Research Society and the China Electricity Council in hosting the China Power Sector Low-Carbon Transition Annual Forum 2024, where CERS released this report.

The report is only available in Chinese.