Sumary of China’s Grid Heeds Xi’s Call for More Supply of Clean Energy:
- Article content (Bloomberg) — China’s biggest grid company will create a forum that’ll allow for widespread power trading across provinces, part of the government’s efforts to smooth out supply and enhance the availability of clean energy.
- The announcement preceded comments from President Xi Jinping calling for a better nationwide system for sharing power, which were reported by the official Xinhua News Agency.
- Article content State Grid is seeking to build “a new power system dominated by new energy” that can help China achieve its carbon targets, the government-owned company said in a statement.
- The market will let clean energy companies freely sell their electricity, which after years of government subsidies is now competitive with coal, the nation’s mainstay fuel.
- Its current spot trading system allows only surplus renewable energy to be bought and sold across provinces, and for coal-fired power to be traded within provinces.