The development and operation mechanism of the green power market in China

In February 2023, the National Development and Reform Commission (NDRC), the Ministry of Finance (MoF), and the National Energy Administration (NEA) jointly issued the Notice on Green Electricity Projects Subsidized by the Central Government to Participate in Green Electricity Trading (CHN: 国家发改委 财政部 国家能源局关于享受中央政府补贴的绿电项目参与绿电交易有关事项的通知), encouraging renewable power projects under the national feed-in tariff subsidy to participate in green power market trading. The green power market is an independent medium-to-long-term market dedicated to renewable power generation. The main players are utility-scale wind power and solar PV projects with grid parity after 2017. This policy aims to include a stock of subsidised projects, which guarantees the payment of project subsidies while expanding the trading volume of green power.