China’s Grid Heeds Xi’s Call for More Supply of Clean Energy

chinas grid heeds xis call for more supply of clean energy

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.

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