@Freepik 

To gather expertise and support joint research on exploring viable market-based solutions for the construction of a New Power System, NRDC and the China Energy Research Society (CERS) convened the 13th New Power System Salon on December 26. 

The invited experts highlighted the need for a flexible and diverse electricity pricing mechanism that accurately reflects the energy supply value, reliability value, system flexibility value, and environmental value of various energy sources. The experts also proposed a holistic China Renewable Energy Development Mechanism 3.0 that integrates the cohesive efforts of an open power market, Green Electricity Certificates, carbon market, and essential financial tools, in order to provide sufficient rewards to renewable generation and create demand for the environmental benefits of renewable energy. As distributed solar is a main growth area in China’s power sector, experts recommended refining the trading model and clarifying the market entrance rules to encourage their participation in the power market. 

Key media outlets, such as the Paper, Southern Metropolis Daily and CPPCC Daily, extensively reported on this event.