China issues guideline on green power trading to accelerate the domestic market trading

On July 24, 2024, the National Development and Reform Commission and the National Energy Administration of China jointly issued the "Guideline for Medium-and Long-erm Green Power Trading." The guideline stipulates the trading methods, price setting, transaction of the trading, and issuance and transfer of green power certificates of green power trading and aims to accelerate the domestic market trading. The trading has been piloted in Beijing, Guangzhou and Inner Mongolia since 2021. However, due to the varied rules and pricing mechanisms of different provinces, it was difficult for entities to conduct green power trading across the country. To address the challenges and promote domestic trading, the guideline was enacted.