Thoughts and practices on the construction of the electricity price transmission system in Zhejiang power market

doi:10.11930/j.issn.1004-9649.202508060

Abstract

Abstract:

With initial progress in China's power market system construction, the market-oriented pricing mechanism for electricity has been gradually improved. Market-oriented electricity price signals, formed through competition among power generation enterprises, power selling companies and other entities, are transmitted through wholesale, retail and other links to end users. Their effectiveness and stability will be an important criterion for evaluating the comprehensive construction of the power market. Against this backdrop, we first summarize the development of domestic and international power market price systems and key issues in price transmission system construction; then, from Zhejiang's perspective, we sort out core ideas and practical experience of its price transmission system, and discuss future development, aiming to provide references for building a market-oriented price system reflecting electricity's multiple values.

Key words: power market, electricity price, price transmission system

LIU Weidong, DENG Hui, JIA Xing, ZHUANG Xiaodan, CHEN Mengyao, LI Zhiyi. Thoughts and practices on the construction of the electricity price transmission system in Zhejiang power market[J]. Electric Power, 2026, 59(1): 133-142.

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URL: https://www.electricpower.com.cn/EN/10.11930/j.issn.1004-9649.202508060

https://www.electricpower.com.cn/EN/Y2026/V59/I1/133

Figures/Tables 7

Fig.1 Key links of price transmission in power markets

Fig.2 Schematic for the price transmission system in Zhejiang power market

Fig.3 Time-of-use electricity price formation through full-cycle trading

Fig.4 Schematic of reference price and cap mechanism for Zhejiang retail packages

Fig.5 Comparison between the average settlement price of Zhejiang coal-fired power and the thermal coal price index

Table 1 Average settlement price of different types of generators in the first half of 2025 单位：元/(MW·h)

月份	统调水电	统调核电	统调风电	统调光伏
1	590.89	403.81	383.61	385.86
2	637.35	409.18	402.65	368.88
3	577.13	403.96	396.25	382.35
4	534.54	406.02	396.35	384.25
5	486.45	401.30	399.47	372.18
6	534.99	401.32	397.38	387.25

Fig.6 The reference time-of-use price curve in Zhejiang retail market

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