The Shandong electricity spot market saw negative prices for 22 consecutive hours (20:00; 1 May – 17:00; 2 May) during national holidays in May 2023. The spot power price fluctuated drastically from 1047.51 RMB/MWh to -85 RMB/MWh (see figure below). The combination of reduced demand due to the holiday break
Since 1 May 2023, Chinese governmental entities and enterprises are required to conduct a carbon impact analysis for every new investment project located in China. This new guideline was published by the National Development and Reform Commission (NDRC) on 3 March. The analysis needs to be included in the feasibility
The Ministry of Natural Resources issued the ‘Requirements for Strictly Adhering to the Bottom Line and Standardizing the implementation of Comprehensive Land Remediation Pilot in the Whole Region’ on 23 April 2023. The new requirements regulate land management and spatial planning at the national level. Their overall aim is to
Eleven ministries jointly issued the guideline on building a holistic standard system to achieve China’s carbon peaking and neutrality goals. The standard system contains four primary systems covering general standards, carbon emission reduction standards, carbon removal standards and market mechanism standards. The aim of the guideline is to address key
In January 2023, the Ministry of Ecology and Environment (MEE) gradually began publishing Frequently Asked Questions series for the national ETS implementation on the official website, which have been collected from the online national ETS helpdesk. This online help desk has been built as a communication platform between the national
On 30 March 2023, Ministry of Ecology and Environment (MEE) called for the public proposals for the CCER project methodology. For building integrated national voluntary carbon reduction market and meeting the new needs of achieving dual carbon target, the previous methodologies need to be updated. The MEE requested: On 4
On 15 March 2023, the Ministry of Ecology and Environment (MEE) released the Notice on the Allowance Allocation Tasks and issued the “Implementation Plan on National ETS Allowance Allocation for the year 2021 and 2022”. It requested the authorities of provincial level jurisdictions to report and finish the pre-allocation by
The 2023 Report on The Work of the Government and the 2023 Draft Plan for National Economic and Social Development were released on 5 March during China’s 14th National People’s Congress. Low carbon transition is on top of government’s agenda this year for both the 2023 report and the 2023 plan.
On 7 February 2023, Ministry of Ecology and Environment (MEE) released the Notice on the Management of GHG Emissions Reporting for Power Generation Sector from 2023 to 2025 to the provincial Departments of Ecology and Environment (DEEs). According to the Trial Measures of National ETS Management, it requires DEEs to
