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China to establish green power exchange trial points based on block-chain technology

2021/9/8 11:56:06   source:Global Times

The National Development and Reform Commission (NDRC), China's economic planner recently vowed to move forward with the establishment of green power exchange trial points across the country based on latest block-chain technology that can track various information of the green power.

NDRC stated in an article published on its official website on Tuesday that China's conditions were sufficient for establishing green power exchange market at present. Officials of NDRC suggested in the article that many enterprises and local governments are willing to build and participate in the exchange market.

In addition, the latest block-chain technology can track the information of green power from its multiple phases including the generation, trade and consumption to prevent tamper. State Grid Corporation of China (SGCC) has applied for a patent for block-chain technology applied in green power sector.

Basing on the operation experience of Beijing Power Exchange Center (BPX) and Guangzhou Power Exchange Center (GZPEC), several functions of green power exchange market have been realized. And the consensus of enhancing the development of green power system had gained critical mass throughout the broader public.

To achieve the country's goal of carbon emission tasks and overcome the unstable generation capacity of new power, the green power exchange system will help some electricity users who like to take more social responsibilities to trade directly with wind power and photovoltaic power programs, which may enhance the construction of green power system.

The green power exchange market will be co-built by SGCC, China Southern Power Grid, BPX and GZPEC and supervised by NDRC and National Energy Administration. Wind power and photovoltaic power programs will be allowed to join the market first and the market will be gradually opened to hydro power programs in future, said the article. 

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