July 18, 2018 / 9:49 AM / 4 months ago

UPDATE 1-China to open power trading to hydro, nuclear power generators -NDRC

(Adds details)

BEIJING, July 18 (Reuters) - China will open an electricity trading market for hydropower and nuclear power generators, and accelerate the process for coal-fired power plants to join the market, the country’s state planner said in a statement on Wednesday.

The National Development and Reform Commission (NDRC) also urged local authorities and grid companies to remove barriers on cross-regional power trading and encouraged all types of power generators that can meet energy consumption and emission standards, including captive power plants at industrial plants, to participate in the trading market.

China also plans to remove power consumption and generation restrictions for coal, steel, non-ferrous and construction materials companies from this year, allowing them to fully trade in the power market.

“No printed prices will be carried out at power consumers in the key sectors ... Consumers will be encourage to negotiate power prices and sign long term trading contracts with power generators,” the NDRC said in the statement.

The NDRC also asked local authorities to reduce intervention during power trading, as it is part of the country’s years-long efforts to liberalise the country’s electricity market.

High value industries such as high-tech, internet and big data companies will also be encouraged to join the power market without voltage and usage restrictions, the statement said. (Reporting by Muyu Xu and Josephine Mason; Editing by Christian Schmollinger and Tom Hogue)

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