Shandong power market strongly supports power supply during peak summer season

Since the beginning of summer this year, the power load in Shandong Province has continued to rise due to factors such as high temperature and high humidity. Faced with the arduous task of ensuring power supply during the peak summer season, Shandong has actively built a market system that is conducive to ensuring power supply, optimized resource allocation through market mechanisms, and guided business entities to actively participate in grid regulation, effectively supporting the "four new highs" of power load in the entire network, with 12 days of noon and evening double peaks exceeding 100 million kilowatts. The highest power load reached 114.51 million kilowatts (noon peak on August 3), and the highest evening peak load was 105.85 million kilowatts (evening peak on August 2), achieving mutual promotion and coordinated development between power market construction and safe and stable operation of the power grid. During the peak summer season, the province's power supply was stable and reliable, and no load control measures such as demand response were taken.

From the power generation side, under the influence of Shandong's power market mechanism, during the period of tight supply and demand, the high peak prices in the spot market fully stimulated the willingness of power sources to generate power at peak times. During the summer, the power generation capacity of Shandong's coal-fired power units increased by 4.78 million kilowatts, the maximum discharge power of independent new energy storage power stations was 3.15 million kilowatts, and the first batch of 10 registered virtual power plants achieved a flexible adjustment capacity of more than 100,000 kilowatts. During the peak summer load period, the unit non-stop and obstruction rate dropped to less than 2%, achieving a historic breakthrough of "two zeros" in the non-stop rate and obstruction rate of 6 units with 14 million units, and "zero non-stop" in 12 wind farms with more than 100 wind turbines.

From the electricity consumption side, through the optimization of market mechanisms and time-of-use electricity price policies, the full chain of time-of-use prices formed in the medium and long-term spot market is promoted to be transmitted to end users, which effectively encourages the source and load sides to jointly participate in the grid regulation. Establish and improve the time-of-use price constraint mechanism in the retail market, promote the formation of time-of-use prices in the retail market, and the peak-valley price difference in the retail market is greater than 3:1; refer to the time-of-use electricity price signals in the spot market, optimize the industrial and commercial time-of-use electricity price mechanism, and adjust the time-of-use electricity price floating ratio, peak-valley duration and other parameters of the agent power purchasing users in a timely manner; implement the time-of-use capacity compensation electricity price collection method among all industrial and commercial users, set the capacity compensation electricity price peak-valley coefficient, and the peak coefficient of power users is 20 times the valley coefficient. The peak shift of market-oriented users in the evening peak is about 2.8 million kilowatts, which effectively reduces the pressure on power supply. The maximum load of the entire network during the evening peak of summer load is 106 million kilowatts, an increase of 4.8% year-on-year. As of the end of July 2024, the total grid electricity consumption was 388.041 billion kWh, a year-on-year increase of 6.7%, and the increase in electricity consumption exceeded the increase in peak load.

In the next step, Shandong Energy Regulatory Office will further intensify its work, conscientiously perform regulatory duties, and continue to do a good job in power supply in conjunction with relevant competent departments. Give full play to the role of market mechanisms, continue to promote large-scale market participation of new entities such as virtual power plants and user-side energy storage, further tap the system's regulation capabilities, and ensure safe, stable operation and reliable supply of electricity.