Shaanxi power spot market enters full operation

Shaanxi's electricity spot market has officially entered full operation, becoming the 10th provincial-level market in China to achieve year-round operation, full-volume clearing, and participation by all market entities.

The milestone marks a key step in Shaanxi's electricity market reform. Since launching its first simulated trial in November 2022, the market began continuous settlement trials on Jan 1, 2025, ahead of other provinces outside the national pilot program.

By September 2026, a total of 72 coal-fired generating units with a combined capacity of 32.96 million kilowatts and 366 centralized renewable energy plants with a combined capacity of 32.13 million kW were participating through quantity and price bids. Their combined capacity accounted for 66.3 percent of the province's total capacity under this bidding mechanism. On the demand side, participation by major wholesale consumers and electricity retailers was fully covered.

The market has also improved grid flexibility and resource allocation. During peak demand, Shaanxi transmitted up to 5.34 million kW of electricity to eastern and southwestern China. Its renewable energy output reached a record 27.6 million kW, while utilization remained at 93 percent.

Zhang Chenggang, chief engineer of the dispatching and control center of State Grid Shaanxi Electric Power Co, said the company would further promote interprovincial power trading, retail market coordination, and virtual power plant aggregation to support the development of a unified national electricity market.