Xinjiang has completed its first multi-month direct power trading, marking a breakthrough in the region's medium- and long-term electricity market.

The trading, organized by Xinjiang Power Exchange Center, establishes a full-cycle trading system covering multi-year, annual, multi-month, monthly and within-month contracts. The move comes as Xinjiang accelerates construction of its new power system amid rapidly expanding new energy capacity.

To support the new trading model, the regional government issued an implementation plan for 2026 medium- and long-term power trading, adding multiple trading products and clarifying rules on trading organization, bidding and contract performance.

The exchange center also upgraded its trading platform and conducted simulation tests across bidding, matching and contract generation processes.

A total of 77 power generators and 34 power users and retail companies participated in the multi-month trading, with transaction volume reaching 1.93 TWh at an average price of 193.68 yuan/MWh.

New energy accounted for 1.26 TWh, or 65.32% of total volume. The multi-month model helps stabilize power supply and prices while expanding market-based consumption channels for new energy.