Green power trade grew steadily in China

Trade of green power in China grew steadily and reached 87.8 billion kilowatt-hours by the end of October, with 148 million green certificates issued, showing positive signs of China's energy transition, according to the National Energy Administration on Wednesday.

Green certificate is proof of traded electricity generated from renewable sources.

Song Hongkun, director of the market regulation department of the NEA, said "Against the backdrop of large-scale development of new energy, China is innovating market mechanisms, vigorously promoting the green transformation of energy and electricity production methods, encouraging active consumption of green energy, fostering a green and low-carbon production and lifestyle, and supporting the setup of a new energy system and the achievement of the country's decarbonization goals."

The remarks were made in an interview on the eve of the sixth Asia Pacific Energy Regulatory Forum that officially opened on Thursday.

During the forum, the NEA released a report on the exploration and practice of China's energy regulation, which it said played an important role in facilitating the green and low-carbon development of the energy industry.

The report summarized the achievements of China's energy development, reviewed the development process of energy regulation over the past 20 years, and outlined the exploration, practice, and effectiveness of energy regulation in ensuring the implementation of national energy planning policies.

Zhang Jianhua, head of the NEA, pointed out that energy regulation in Asia-Pacific countries and regions has played a significant role in safeguarding energy security, promoting fair market competition, and protecting the rights and interests of energy investors and consumers.

Zhang said that going forward, China's energy regulation will focus more on ensuring energy security, intensifying efforts towards green and low-carbon energy transformation, optimizing the broader allocation of energy resources, meeting the energy needs of livelihoods, and enhancing the overall efficiency of energy regulation.