Power marketization is a prerequisite for promoting the development of smart power

The key feature of a smart power system lies in the active involvement of real-time electricity pricing and demand-side participation. Therefore, it is essential to firmly advance the reform of China's power market. The marketization of electricity should continue to expand competition, reinforce grid regulation, and develop a "buy and sell more" market structure with flexible and diverse trading mechanisms. In this evolving market, electricity prices must be determined by supply and demand, reflecting the time and spatial differences in generation costs (electricity market). It should effectively guide both investment and consumption, ensuring long-term power supply reliability (capacity market), and establish market-based or cost-based compensation systems for various ancillary services (auxiliary service markets). Real-time price signals must flow smoothly, while the demand side plays an active role in the market. Consumers should be able to autonomously decide when to use, generate, store, or trade electricity based on market signals such as price, thus balancing supply and demand (retail market). As power marketization deepens, trading methods will become more diverse, and market mechanisms will grow increasingly flexible. This evolution will support intelligent interactions between the supply and demand sides, enabling a more responsive, efficient, and sustainable energy system. With continuous improvements, the power market will not only enhance efficiency but also foster innovation, resilience, and consumer empowerment in the energy sector.

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