China reports rapid growth in green electricity trading

BEIJING, June 18 (Xinhua) -- China's green electricity trading volume surpassed 220 billion kilowatt-hours in the first five months of this year, marking a year-on-year increase of nearly 50 percent, according to industry data released at a forum on Wednesday.

According to statistics from the China Electricity Council, with China's new energy capacity and output steadily rising, new-sources power supply is now playing an increasingly active and competitive role in the electricity market.

In 2024, the nationwide market-based trading volume of new energy electricity surpassed 1 trillion kilowatt-hours, accounting for 55 percent of the total new energy production, according to the council.

China's market-oriented electricity trading volume surged from 1.1 trillion kilowatt-hours in 2016 to 6.2 trillion in 2024, with its share in total electricity consumption rising from 17 percent to 63 percent, marking a significant shift in electricity resource allocation toward a market-driven system.

Yang Kun, executive vice chairman of the China Electricity Council, said that in recent years, growing demand for green consumption in China has driven rapid expansion in green electricity trading, underscoring the environmental value of green energy.

The council will continue its efforts in promoting the green and low-carbon transition in the energy and electricity sector, Yang added.