The third draft of the hottest power quota system

2022-08-07
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On November 15, the comprehensive Department of the National Energy Administration issued a letter to solicit opinions on the notice on the implementation of renewable energy power quota system. This is the third time that the quota system has solicited opinions since March and September this year. According to the regulations, the renewable energy quota assessment is planned to be formally carried out from January 1, 2019, and the 2019 annual quota indicators will be released separately in the first quarter of 2019. The long-awaited quota system policy is about to be implemented, which has triggered continuous hot debate in the industry

The document clarifies the obligations of each subject and continues to deepen industry management, and public opinion affirms that it ensures the healthy development of the new energy industry. The main contents of the draft for comment include setting renewable energy quotas for power consumption, determining quota indicators according to provincial administrative regions, where Provincial People's governments should undertake the implementation of quotas, power selling enterprises and power users should jointly undertake quota obligations, power enterprises should undertake the implementation of quotas in operating areas, and power trading institutions should do a good job in the connection between quota implementation and power trading. Shenwan Hongyuan pointed out that the introduction of the quota system will add a major driving force to the development of new energy. From the perspective of local governments and power companies, it will form an assessment pressure on the power generation and transmission capacity of new energy, thus encouraging the development of new energy. However, the securities cited some industry views to believe that each province has no ambitious goal and is relatively conservative in formulating quotas on an annual basis

the first incentive index was paid attention to, aiming to encourage provinces to exceed the target. The document proposed for the first time that "the minimum renewable energy proportion specified for each provincial administrative region shall be the binding index, and the incentive index shall be determined by 10% of the binding index". The Shanghai Securities News, China Energy News and other media have noticed this new "action". Tao Ye, deputy director of the renewable energy development center of the Energy Research Institute of the national development and Reform Commission, explained that the original intention of the incentive policy was to ask everyone how to operate the spring testing machine? Better achieve the target. Pengpeng, Secretary General of China new energy power investment and financing alliance, believes that the emergence of incentive indicators is a highlight and has a certain incentive effect on all parties. Guosheng securities, Zheshang securities and other institutions also said that the establishment of incentive mechanism and incentive indicators is expected to encourage qualified provinces to determine higher renewable energy proportion indicators by themselves, exceeding the consumption target

cancel the "quota compensation", which is interpreted as not representing the weakening of punishment. In terms of punishment measures, the last version of the draft for comments proposed that those who failed to complete the quota assessment should receive quota compensation, and formulated strict assessment rules. In this edition, the market entities that fail to complete the quota are no longer clear about the accounting method of fines, but are changed to "punish them according to laws and regulations, list them in bad credit records, and give joint punishment". Taoye said that no penalty is not without economic punishment. Joint punishment does not mean that the punishment is weakened, but that the assessment is strengthened. The national development and Reform Commission is taking the lead in establishing a credit evaluation system for the power market. Failure to complete the quota is a serious breach of credit, which will inevitably bring economic losses and corresponding punishment

the simplified trading mechanism and the quota system combined with green certificates are expected to alleviate the two pain points of consumption and subsidies. This exposure draft adopts the existing green certificate and directly assesses the actual power consumption, which solves the problem that the coexistence of two "green certificates" in the previous version increases the difficulty of management. Yuanjiahai, a professor at the school of economics and management of North China Electric Power University, proposed that the renewable energy trading mechanism is simpler than the previous two editions, more prominent in the original intention of the policy, choosing a more feasible path in reality, and reducing the resistance of all parties. It is generally believed in the industry that the third version of the exposure draft will help invigorate the existing green card market and supplement the subsidy gap. The official account "photovoltaic era" pointed out that the green card transaction was used to replace some subsidies, which eased the pressure on subsidy funds, and also provided power generation enterprises with a self-adhesive stripping force tester, also known as a tensile testing machine, to quickly recover funds through market-oriented transactions

the wind power and photovoltaic industries believe that the quota system is good for the development of the industry. After the release of the draft for comments, many wind power and photovoltaic enterprises said that the implementation of the renewable energy quota system would bring benefits to the industry. Specifically, from the complete punishment to the combination of rewarding the good and punishing the bad, the main body will have greater motivation to complete the quota, and the industry estimates that the power companies will relax the access threshold of renewable energy; In addition, with the change of market supply-demand relationship, wind power and photovoltaic power generation enterprises will have more say in market transactions, and the increase of purchase price may become a probability event

in addition, for some details not specified in the exposure draft, public opinion hopes that the corresponding implementation rules and supporting policies will be issued in the future to further clarify them. The renewable energy power quota system is about to be implemented. How to remove institutional and institutional barriers, regulate the chaos of the renewable energy power market, promote the healthy development of the renewable energy industry, and accelerate the construction of a clean, low-carbon, safe and efficient energy system remains to be seen in the industry

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