On September 16th the NDRC held a press conference for September. According to the relevant responsible person of the National Development and Reform Commission, in accordance with the decision and deployment of the CPC Central Committee and the State Council, since the beginning of this year, the National Development and Reform Commission has accelerated the reform of electricity price. innovate the pumped storage price mechanism, introduce a new energy parity policy, optimize the peak-valley time-of-use electricity price mechanism, and implement a more stringent ladder electricity price system in the electrolytic aluminum industry. The introduction of these four key reform measures has been highly concerned and positively evaluated by all parties.
The first is to innovate the price mechanism of pumped storage. It is clear that the electricity price of pumped storage electricity is formed in a competitive way, and the capacity tariff is included in the recovery of transmission and distribution electricity price. at the same time, it strengthens the connection with the construction and development of the electricity market, releases a clear and strong price signal, and gives investors a "reassuring pill". It has injected a strong driving force to accelerate the development of pumped storage.
The second is to introduce a policy of access to the Internet at low prices for new energy. It is clear that starting from this year, new wind power and photovoltaic power generation will enter the stage of getting online at affordable prices, and the implementation of the benchmark price for coal-fired power generation this year will ensure better revenue from new projects and will effectively promote the development of new energy industry.
The third is to optimize the peak-valley time-sharing electricity price mechanism. For places where the difference between peak and valley of the power system is more than 40%, it is clear that the ratio of peak price to valley price is in principle not less than 4%, and all localities are required to establish a peak price mechanism to further increase the peak price by 20% on the basis of peak price. This can give full play to the role of electricity price signal, guide power users to cut peaks and fill valleys, promote the consumption of new energy, and promote the development of energy storage in a larger space. it will play an important role in ensuring the stable power supply at the peak and improving the overall utilization efficiency of the power system.
The fourth is to implement a stricter ladder electricity price system in the electrolytic aluminum industry. Before 2025, the electrolytic aluminum industry will raise the requirements of energy efficiency in three steps, implement progressive price increases for electricity consumption that can not meet the requirements of enterprises, and send a clear warning signal to the electrolytic aluminum industry, which consumes more than 500 billion kilowatt-hours of electricity a year. Continue to force enterprises to save energy and increase efficiency, and reduce carbon emissions.
Speeding up the reform of electricity price is an important measure taken by our committee to implement Xi Jinping's thought of ecological civilization and the arrangements of the CPC Central Committee and the State Council on carbon peak and carbon neutralization. The above series of recent electricity price reform measures are of great significance to speed up the construction of a new power system with new energy as the main body and ensure the safe and stable economic operation of the power system based on the current and long-term perspective. At the same time, these electricity price reform measures will effectively stimulate investment in areas such as pumped storage, wind power photovoltaic, new energy storage construction, and energy-saving technological reform in the electrolytic aluminum industry, which is expected to drive trillions of yuan of new social investment in upstream and downstream industries in the next few years, and will gradually play a role in the smooth operation of the economy. For example, the new pumped storage price policy will lead the new construction scale of pumped storage to exceed 100 million kilowatts during the 14th five-year Plan period. Considering the upstream and downstream industries, it will lead to more than 1 trillion yuan of new social investment.
In the next step, our committee will thoroughly implement the work arrangements of the CPC Central Committee and the State Council on carbon peak and carbon neutralization, focus on building a new power system with new energy as the main body, and continue to deepen electricity price reform. The action plan for deepening the reform of the price mechanism during the 14th five-year Plan period issued in the first half of the year has made overall arrangements for the reform of electricity price in the coming period. Recently, the new transmission price pricing method for inter-provincial and inter-regional special projects has completed the process of public consultation and is about to be introduced. We are also speeding up the study of measures such as improving the green electricity price system, improving the price formation mechanism of nuclear power, and deepening the reform of electricity prices for catalogue sales. we will step up efforts to improve policies and promote implementation, and further give play to the role of electricity price signals and leverage. we will optimize the allocation of power resources and serve the transformation and development of green and low-carbon electricity.