State Grid's provincial medium- and long-term power markets have entered continuous daily operation, marking a new phase of uninterrupted trading.

The markets across provinces covered by State Grid, excluding Xizang, officially began operating on a continuous daily basis on September 20, according to the Beijing Power Exchange Center.

The move aims to increase trading frequency and flexibility, improve market mechanisms suited to a new-type power system and provide more efficient trading services for market participants.

During this year's May Day holiday, the Beijing Power Exchange Center piloted continuous daily operation in cross-regional and northeastern markets and in six provinces facing significant renewable energy consumption pressures, increasing power transmission out of the northeast by 4.5 GW and boosting renewable energy consumption there.

Building on the pilot, the exchange spent four months expanding the mechanism, and the markets now operate continuously on a daily basis across State Grid's service area, excluding Xizang, with active trading and positive feedback from participants.

During the summer peak, extra trading sessions during holidays added 23.8 TWh of traded electricity, while renewable energy actively participated in continuous operation with 6.9 TWh traded, promoting renewable consumption and reducing execution deviations.

Continuous daily operation of medium- and long-term power markets is a key measure to deepen power market reform and support the construction of a new-type power system. The Beijing Power Exchange Center said it will continue to optimize market operations and improve services to support the green and low-carbon energy transition and high-quality economic and social development.