The NDRC Department of Institutional Reform said south China’s power market now has over 270,000 registered participants, about one quarter of the national total. Market-based trading accounted for 67.5% of electricity volumes, roughly 4 percentage points above the national average. A peak–valley pricing and flexible-balancing regime has improved resource allocation efficiency; since continuous-settlement trials began West-to-East transfers exceeded planned increases by more than 20 bln kWh, and

The NDRC Department of Institutional Reform said south China’s power market now has over 270,000 registered participants, about one quarter of the national total. Market-based trading accounted for 67.5% of electricity volumes, roughly 4 percentage points above the national average. A peak–valley pricing and flexible-balancing regime has improved resource allocation efficiency; since continuous-settlement trials began West-to-East transfers exceeded planned increases by more than 20 bln kWh, and 2025 transmission volume reached a record 261.6 bln kWh.