China's First Regional Electricity Market Taking Shape

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Last updated at: (Beijing Time) Thursday, June 12, 2003

China's First Regional Electricity Market Taking Shape

China's State Electricity Regulatory Commission announced Wednesday that the country's first regional electricity market would be established within the year.

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China's State Electricity Regulatory Commission announced Wednesday that the country's first regional electricity market would be established within the year.

The move was considered historic in the break-up of the monopoly of the electricity sector and triggered the restructuring of the sector, said a commission spokesman.

The market will take shape in China's northeastern provinces of Liaoning, Jilin and Heilongjiang. It will also cover Chifeng and Tongliaoin cities and Hinggan and Hulun Buir leagues (prefectures)in the Inner Mongolia Autonomous Region.

The northeastern electricity market will undergo trial operations at the end of October and begin formal operations in January 2004.

The northeastern power grid company was expected to be established soon, said the spokesman, referring to the establishment as a priority for China's opening of the regional electricity market.

The State Electricity Regulatory Commission planned to completethe supervision system over the northeastern electricity market byintroducing a series of related pricing policies and boosting market competition within the region, said the spokesman.

The establishment of an electricity futures market was also on the commission's agenda, he added.

The commission would approve the plan to establish a northeastern regional electricity market before the end of July and two more similar regional electricity markets would be created in the eastern and southern regions within the year, revealed ChaiSongyue, chairman of the commission.

China has suffered a shortage of electricity in recent years, and this has become a major obstacle to economic development. The government believes the monopoly of the electricity sector also undermines the optimization of the country's electricity supply.

The government broke up the State Power Corporation, the former electricity monopoly, into 11 smaller generating, distribution and logistics companies last December and founded the State Electricity Regulatory Commission in March to supervise industrial operations and issue licenses to environmentally qualified operators.

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