New electricity trading rules complete the policy framework for China’s unified power market
China’s power market is on its way to achieve greater unity with two new regulations recently released. On 1 October 2025, the NDRC and NEA officially implemented the “Basic Rules for Power Market Measurement and Settlement”. They provide standardised metering, verification, and settlement procedures for power providers, trading centres, aggregators (VPPs), energy storage operators, and grid companies. Meanwhile, the “Plan for Regularised Power Transactions Across Grid Operating Areas” dismantles barriers between the State Grid and China Southern Power Grid, eliminating administrative interference and further advancing nationwide market-based electricity trading.