建设全国统一能源市场,化解油气充足供应与成本控制的结构性难题
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Building a Unified National Energy Market and Resolving the Structural Difficulties of Sufficient Oil and Gas Supply and Cost Control

建设全国统一能源市场,化解油气充足供应与成本控制的结构性难题

In this article appearing in the state-backed The Paper (澎湃), several experts offer opinions on how the recently announced “Opinions on Accelerating the Construction of a National Unified Market” will impact energy supply and costs.


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The CCP Central Committee and State Council Opinions on Accelerating the Construction of a National Unified Market were released on April 10 [2022]. This has, from an overarching and strategic perspective, clarified the overall requirements, main goals, and key tasks for accelerating the construction of a large unified national market. The Opinions emphasize that we must accelerate the establishment of the systems and rules for a unified national market, break down local protection and market segmentation, break through the key obstruction points that restrict economic circulation, promote the smooth flow of commodities, factors, and resources over a broader scope, and accelerate the construction of a large unified national market that features efficiency, standardization, fair competition, and full openness.

《中共中央 国务院关于加快建设全国统一大市场的意见》4月10日发布,从全局和战略高度明确了加快推进全国统一大市场建设的总体要求、主要目标和重点任务。意见强调,要加快建立全国统一的市场制度规则,打破地方保护和市场分割,打通制约经济循环的关键堵点,促进商品要素资源在更大范围内畅通流动,加快建设高效规范、公平竞争、充分开放的全国统一大市场。

In an exclusive interview with Xinhua News Agency, the person in charge from the National Development and Reform Commission said that, in recent years, important progress has been made in the construction of a unified national market. The scale effect of a large unified market has been continuously emerging, the basic system has been continuously improved, market facilities have been linking at a greater pace, important steps have been made in the construction of the factor market, the consensus on building a large unified market has been continuously consolidated, and the concept of fair competition has been deeply rooted in the hearts of the people. However, it must also be noted that, in practice, there are still some problems that hinder the construction of a large unified national market. Market segmentation and local protections are relatively prominent, the construction of the factor and resource market is not perfect, the quality systems of the commodity and service market are not yet robust, the market supervision rules, standards, and procedures are not unified, the role of the super-large-scale market has yet to play its full role in technological innovation and industrial upgrading, and so on. Implementing the strategic deployment of building a new development pattern inevitably requires accelerating the construction of a large unified national market and smoothing the path of nationwide domestic circulation.

国家发改委负责人在接受新华社专访时表示,近年来,全国统一大市场建设工作取得重要进展,统一大市场规模效应不断显现,基础制度不断完善,市场设施加快联通,要素市场建设迈出重要步伐,建设统一大市场的共识不断凝聚,公平竞争理念深入人心。但也要看到,实践中还有一些妨碍全国统一大市场建设的问题,市场分割和地方保护比较突出,要素和资源市场建设不完善,商品和服务市场质量体系尚不健全,市场监管规则、标准和程序不统一,超大规模市场对技术创新、产业升级的作用发挥还不充分等。落实构建新发展格局的战略部署,必然要求加快建设全国统一大市场,畅通全国大循环。

The Opinions call for “building a unified market for factors and resources,” and one of their key tasks includes building a unified national energy market. On the condition that we are effectively guaranteeing a secure energy supply, combined with the tasks and goals of achieving carbon peaking and carbon neutrality, we should make orderly efforts to promote the construction of the national energy market. On the basis of overall planning and optimizing the layout, we should improve the oil and gas futures product system, standardize the construction of oil and gas trading centers, and optimize the layout of key infrastructures such as trading venues and delivery warehouses. We should promote the interconnection of oil and gas pipeline network facilities and open them to all types of market players fairly. We should steadily promote the marketized reform of natural gas and accelerate the establishment of a unified natural gas energy measurement and pricing system. We should improve the multi-level unified electricity market system, and examine how to promote the establishment of a national electricity trading center at the appropriate time. We should further give play to the role of the national coal trading center and promote the improvement of a unified national coal trading market.

意见要求“打造统一的要素和资源市场”,重点任务之一包括建设全国统一的能源市场。在有效保障能源安全供应的前提下,结合实现碳达峰碳中和目标任务,有序推进全国能源市场建设。在统筹规划、优化布局基础上,健全油气期货产品体系,规范油气交易中心建设,优化交易场所、交割库等重点基础设施布局。推动油气管网设施互联互通并向各类市场主体公平开放。稳妥推进天然气市场化改革,加快建立统一的天然气能量计量计价体系。健全多层次统一电力市场体系,研究推动适时组建全国电力交易中心。进一步发挥全国煤炭交易中心作用,推动完善全国统一的煤炭交易市场。

Effectively Resolving the Structural Difficulties of Sufficient Supply and Cost Control

有效化解充足供应与控制成本的结构性难题

Li Lei, head of the strategic research department of the Shanghai Petroleum and Natural Gas Trading Center, a national energy trading platform, provided The Paper with the following analysis: in the construction of a “large unified market” for energy, the oil and gas field is different from the electricity and coal fields. For the latter two, China can basically achieve self-sufficiency and the level of autonomy over market development and government supervision is relatively high. In contrast, Chinese dependence on external oil and gas exceeds 72% and 44% respectively, and it is necessary to take both the international and domestic markets into account. A “high external and low internal” price inversion will swallow up the profits of the import link and produce a situation wherein supply is tight. On the other hand, a “low external and high internal” price situation would lead to a large volume of imports, which would dampen the enthusiasm of China’s upstream oil and gas industry and would not be good for the healthy development of the domestic oil and gas industry.

国家级能源交易平台上海石油天然气交易中心战略研究部负责人李雷对澎湃新闻分析称,在能源“统一大市场”的建设中,油气领域不同于电力、煤炭领域,后两者我国基本可以实现自给自足,市场发展和政府监管自主性较强。而我国油气对外依存度分别超过72%和44%,需要兼顾国际国内两个市场。“外高内低”的价格倒挂会吞噬进口环节的利润,造成供给紧张的局面;而“外低内高”导致大量进口,又会打击我国油气上游的积极性,不利于国内油气产业健康发展。

Li Lei believes that the establishment of a unified national energy market can effectively resolve the structural difficulties of sufficient supply and cost control. “After a deviation between domestic and international prices, economics will drive the transition or substitution of energy demand among oil and gas, electricity, coal, and other energy sources thereby regulating oil and gas demand and dynamically achieving a balance between oil and gas import volumes and cost and domestic demand.”

李雷认为,全国统一能源市场的建立,可以有效化解充足供应与控制成本这一结构性难题。“国内与国际出现价格偏差后,经济性会驱动能源需求在油气、电力、煤炭等能源间转化或替代,以此调节油气需求,动态实现油气进口量和成本与国内需求相平衡的状态。”

How to find oil and gas prices in this large market is an important issue. Li Lei said that a large unified national market would include unified market transaction or trading rules, unified market infrastructure operating rules, and unified price formation mechanisms. Specific to the oil and gas market, the futures and spot markets system will be unified, combining the futures and spot markets. The regional markets will be unified with each other, but there is no clear requirement for a single market operating entity. In view of the current domestic situation, it is very much necessary to standardize the construction of oil and gas trading centers and establish a unified national oil and gas futures and spot market system. Resolutely putting an end to the “popping up everywhere” style of construction of local oil and gas trading centers will help to reduce homogeneous and vicious competition, break down local barriers, improve allocation efficiency for the cross-regional flow of resources, and form international price influence as quickly as possible.

如何在这个大市场中发现油气价格是个重要课题。李雷说,全国统一大市场,包括市场交易或贸易规则统一、市场基础设施运行规则统一、价格形成机制统一。具体到油气市场,就是期现货市场体系统一,期现货结合;各区域市场相互之间统一,但并没有明确要求唯一一个市场运行主体。针对国内现状,规范油气交易中心建设,建立全国统一油气期现货市场体系很有必要。坚决杜绝地方油气交易中心“遍地开花”式的建设,有利于减少同质恶性竞争,打破地方壁垒,提高资源跨区流动的配置效率,尽快形成国际价格影响力。

Among these tasks, the establishment of a unified national spot market system is not as simple as setting the “same price” nationwide, but requires a comprehensive system that combines the whole and parts by adjusting measures to suit local conditions of different regions and achieving the unification of factor market rules and supervision. “The regional price reflects the real-time supply and demand situation in the region, while the national price index functions more to monitor, track, and forecast, reflecting changes in domestic and international supply and demand and providing a tool for the government and market entities to make advance deployments and responses and avoid extreme situations such as drastic market price fluctuations.”

其中,全国统一现货市场体系的建立,并不是简单的全国“同价”,而是结合不同区域的情况因地制宜,实现要素市场规则、监管统一,形成整体与部分相结合的综合体系。“区域价格反映该地区实时供需状况,全国价格指数则更具有监测、跟踪和预测的功能,反映国内和国际整体的供求变化,为政府和市场主体提前部署应对,规避市场价格剧烈波动等极端情况发生提供抓手。”

Construction of the Unified National Electricity Market System is Accelerating

全国统一电力市场体系建设提速中

Previously, in the field of electricity, the construction of the unified national electricity market system had already begun, and it will be comprehensively accelerated during the 14th Five-Year Plan period.

在电力领域,在此之前,全国统一电力市场体系建设已经启幕,将在“十四五”期间全面提速。

The 22nd meeting of the Central Commission for Comprehensively Deepening Reform held in November last year pointed out that it is necessary to follow the laws of electricity market operation and the laws of the market economy, optimize the overall design of the electricity market, realize the sharing, mutual benefit, and optimized allocation of electricity resources over a greater scope around the country, and accelerate the formation of a unified and open electricity market system featuring orderly competition, security and efficiency, and sound governance. We must improve the multi-level unified electricity market system, accelerate the construction of the national electricity market, guide all levels of electricity markets at national, provincial (autonomous region, municipal), and regional levels to coordinate operations and develop in an integrated way, standardize and unify trading rules and technical standards, and promote the formation of a diversified and competitive electricity market setup.

去年11月召开的中央全面深化改革委员会第二十二次会议指出,要遵循电力市场运行规律和市场经济规律,优化电力市场总体设计,实现电力资源在全国更大范围内共享互济和优化配置,加快形成统一开放、竞争有序、安全高效、治理完善的电力市场体系。要健全多层次统一电力市场体系,加快建设国家电力市场,引导全国、省(区、市)、区域各层次电力市场协同运行、融合发展,规范统一的交易规则和技术标准,推动形成多元竞争的电力市场格局。

In January this year, the National Development and Reform Commission and the National Energy Administration announced the Guiding Opinions on Accelerating the Construction of a National Unified Electricity Market System (hereinafter Guiding Opinions), which clarified that, by 2025, a unified national electricity market system will be initially formed and the coordinated operation of the national market and provincial (autonomous region, municipal)/regional markets will be realized. [It also made clear that] by 2030, the unified national electricity market system will be basically established, adapting to the requirements of the new type of electricity system and realizing the joint operation of the national market and provincial (autonomous region, municipal)/regional markets.

今年1月,国家发改委、国家能源局公布《关于加快建设全国统一电力市场体系的指导意见》(下称《指导意见》),明确到2025年初步形成全国统一电力市场体系,实现国家市场与省(区、市)/区域市场协同运行;2030年基本建成全国统一电力市场体系,适应新型电力系统要求,实现国家市场与省(区、市)/区域市场联合运行。

The National Development and Reform Commission expressed that, since the new round of electricity system reform, the construction of China’s electricity market has been progressing in a steady and orderly manner, the pattern of diversified and competitive entities has been initially formed, the role of the market in the optimized allocation of resources has been significantly enhanced, and the share of electricity represented by marketized transactions has increased significantly. At the same time, the electricity market still has problems such as incomplete systems, imperfect functions, inconsistent transaction rules, and market barriers in cross-province and cross-region transactions. The aforementioned Guiding Opinions were issued in order to accelerate the construction of a unified national electricity market system, realize the sharing, mutual benefit, and optimized allocation of electricity resources across a larger scope, improve the stability and flexible regulation capabilities of the electricity system, and promote the formation of a new type of electricity system that is suitable for China’s national conditions and has stronger new energy consumption capacity.

国家发改委称,新一轮电力体制改革以来,我国电力市场建设稳步有序推进,多元竞争主体格局初步形成,市场在资源优化配置中作用明显增强,市场化交易电量比重大幅提升。同时,电力市场还存在体系不完整、功能不完善、交易规则不统一、跨省跨区交易存在市场壁垒等问题。为加快建设全国统一电力市场体系,实现电力资源在更大范围内共享互济和优化配置,提升电力系统稳定性和灵活调节能力,推动形成适合中国国情、有更强新能源消纳能力的新型电力系统,出台上述《指导意见》。

Feng Yongsheng, an associate researcher at the National Academy of Economic Strategy of the Chinese Academy of Social Sciences, wrote an article at the time, saying that, as the new round of electricity system reform has been ongoing for seven years, some experiences need to be summarized and some lessons need to be learned. Especially with the emergence of deep system and mechanism problems, the need of electricity system reform for policies featuring top-level design and systemic thinking is undoubtedly increasing. On the one hand, the inherent requirement for electricity market borders to go beyond administrative borders is becoming increasingly intense. On the other hand, we urgently need to form complete reform ideas for the allocation of electricity resources over large areas. The release of the Guiding Opinions indicates that the new round of electricity system reform will begin to adopt the overall idea of controlling the future reform direction of local pilots and promote the in-depth expansion of China’s electricity reform.

中国社科院财经战略研究院副研究员冯永晟彼时撰文称,在新一轮电改正经历七年之际,一些经验需要总结,一些教训需要借鉴。特别是伴随深层体制机制症结的显现,电改对具有顶层设计和系统思维特征的政策的需求无疑正在变大。一方面,电力市场边界超越行政边界的内在要求愈发强烈。另一方面,大范围电力资源配置迫切需要形成完整的改革思路。《指导意见》的出台标志着,新一轮电改将开始具备统驭地方试点未来改革方向的整体思路,助推中国电改纵深拓展。

Chen Qixin, deputy dean of the Energy Internet Research Institute of Tsinghua University, believes that the unified national electricity market will form a complete electricity market system on a nationwide scale with full market coverage, fully compatible transaction timing, flexible transaction varieties, diverse market players, consistent basic rules, and unified transaction standards.

清华大学能源互联网研究院副院长陈启鑫认为,全国统一电力市场将在全国范围内形成市场范围全覆盖、交易时序全兼容、交易品种灵活、市场主体多元、基本规则一致、交易标准统一的完备电力市场体系。

He says that China’s clean energy is mainly concentrated in the “Three North” [northeast, north central, northwest] areas. Due to the low load intensity of the surrounding areas and the limited overall consumption, we urgently need to allow the market to play a decisive role in optimizing the allocation of resources, use market price signals to guide the unified planning, scientific layout, and efficient utilization of clean energy, unify transaction rules and technical standards, break down market barriers, and achieve optimized allocation, sharing, and mutual benefit of electricity resources on a nationwide scale. At the same time, China is in a critical period of building a new type of electricity system. The increase in the penetration rate of clean energy has posed higher requirements for the comprehensive regulation capabilities of the electricity system and posed a challenge to the secure and stable operation of the electricity system. There is a need to further improve the composition of the electricity market system, unify the types and standards for the inclusion of diversified market entities, realize the integrated operation of sources, networks, loads, and storage using marketized means, fully incentivize the enthusiasm of market players to participate, release flexible regulation capabilities, and promote the linkage of balanced electricity system supply and demand and electricity market operational order. Judging from international experience, with the continuous deepening of marketized reforms and the continuous increase in the demand for optimized allocation of resources, on the basis of a steady expansion in the scale of market transactions, the scope of market transactions will gradually expand, and transaction behaviors will gradually become standardized.

他表示,我国清洁能源主要集中在“三北”地区,由于周边区域负荷强度不高,整体消纳程度受限,迫切需要发挥市场优化配置资源的决定性作用,通过市场价格信号引导清洁能源统一规划、科学布局、高效利用,统一交易规则和技术标准,破除市场壁垒,在全国范围内实现电力资源优化配置和共享互济。与此同时,我国正处于构建新型电力系统的关键时期,清洁能源的渗透率提高对电力系统综合调节能力提出了更高的要求,对电力系统安全稳定运行提出了挑战,有必要进一步完善电力市场体系构成,统一多元化市场主体纳入类型和标准,以市场化方式实现对源网荷储的一体化运营,充分激励市场主体参与的积极性,释放灵活调节能力,推动电力系统供需平衡和电力市场运营有序衔接。从国际经验看,随着市场化改革的不断深入和资源优化配置需求的不断提升,在市场交易规模稳步扩张的基础上,市场交易范围将逐步扩大,交易行为也逐渐规范化。

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Cite This Page

杨漾 (Yang Yang) (2022). "Building a Unified National Energy Market and Resolving the Structural Difficulties of Sufficient Oil and Gas Supply and Cost Control [建设全国统一能源市场,化解油气充足供应与成本控制的结构性难题]". Interpret: China, Original work published April 11, 2022, https://interpret.csis.org/translations/building-a-unified-national-energy-market-and-resolving-the-structural-difficulties-of-sufficient-oil-and-gas-supply-and-cost-control/

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