NEA and NDRC issue notice on signing mid- and long-term power contracts in 2021

SHANGHAI, Dec 14 (SMM) — The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) recently jointly issued the "Notice on Doing a Good Job in the Signing of Medium and Long-term Power Contracts in 2021" (hereinafter referred to as the "Notice"), requiring government departments, power companies and trading organizations to organize and coordinate the signing of medium and long-term power contracts (including priority power generation) within and across provinces and regions.

The notice puts forward 10 priorities:

1. Strive to complete the annual medium- and long-term contract signing work by the end of December this year
2. Ensure sufficient contract signing
3. Promote time-based contract signing
4. Widen the spread between the peak-to-valley prices
5. Encourage the signing of multi-year power medium and long-term contracts
6. Enable credit information sharing
7. Standardize medium and long-term contracts for electricity
8. Encourage the signing of medium and long-term electronic contracts for electricity
9. Establish a sound support mechanism for medium and long-term power contracts
10. Ensure the implementation of medium and long-term contracts for electricity