On December 1, the "Regulations on the Administration of Power Business Licenses", "Basic Rules for the Operation of Electricity Markets" and "Measures for the Supervision of the Electricity Market" reviewed and approved by the Eighth Chairman's Office of the State Electricity Regulatory Commission were officially implemented. The "Basic Rules for the Operation of Electricity Markets (Trial)" and "Measures for the Supervision of the Electricity Market (Trial)" promulgated on July 24, 2003 will be abolished at the same time. This will provide a strong legal guarantee for maintaining the power market order and the legitimate rights and interests of the main body of the electricity market, ensuring the unity, openness, competition and order of the electricity market.
According to reports, the "Power Business License Management Regulations" applies to the application, acceptance, review, decision and management of power business licenses. It is also required to obtain a power business license in accordance with regulations in the power business in China. The Basic Rules for Electricity Market Operation clarifies the mains of the electricity market, power dispatching and trading institutions, energy trading methods, and power market setting conditions. The Electricity Market Supervision Measures clearly divided the market supervision duties of the State Electricity Regulatory Commission and regional power regulatory agencies.
At present, China's power industry is in an important period of deepening reform and rapid development. The three power regulations that were officially implemented on December 1st are inevitable requirements for the reform of the power market. They will play a role in ensuring the safety, stability, economic operation of the power system, maintaining the order of the power market, and achieving coordinated and orderly development of the power industry. The important guarantee function is also an important means to improve the power supervision capability. In the future, the power regulatory agency will promote fair competition in the power industry by strengthening market access and regulatory work such as power trading, power dispatching, and power security, and protect the legitimate rights and interests of power investors, operators, and users and the public interest in accordance with the law.
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