Two Sessions Sees More Power Battery Proposals
Key Highlights:
- The key policies recently released by China have brought hydrogen energy, green electricity certificates, and energy storage into the spotlight within the energy sector. China proposes accelerating the development of new energies, including hydrogen, wind power, and solar PV, in 2024. In addition, the country aims to expedite the revision of regulations such as the Renewable Energy Law and the Electricity Law to support these initiatives.
- During China's 2024 Two Sessions - China's National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC) - numerous representatives and delegates in the energy sector called for faster advancement of new types of power system and energy storage, the refinement of standards for power battery technologies and its recycling processes, and the widespread adoption of hydrogen energy. Furthermore, they propose establishing markets for trading green power and green electricity certificates, and enhancing mechanisms for carbon emissions and carbon trading.
SOE Petroleum Enterprises Focus on Improving Natural Gas Market Mechanisms
According to proposals or suggestions made by NPC deputies/CPPCC members from Sinopec and CNPC in 2024, China's two largest state-owned oil companies continue to focus on topics related to oil and gas supply security, oil market regulation, alternative fuels, and resource recycling.
The two oil giants, along with CNOOC, have shown increased attention to natural gas market mechanisms. Each of these companies has submitted relevant suggestions or proposals. A representative from Sinopec suggested establishing the North China Natural Gas Trading Center, while deputies from CNPC and CNOOC proposed improving China's natural gas pricing mechanism and methods for measuring natural gas sales.
Source: Company outlets, GL Consulting
Central SOEs in Power Industry Highlight Optimal Power Distribution and New Energy Market Mechanisms
China's two major power grid companies, the State Grid and the China Southern Power Grid, focus on enhancing cross-regional green electricity transmission and advancing long-distance power transmission. They proposed facilitating a broader national approach to the sharing, mutual support and optimal distribution of electrical power resources.
The State Grid has drawn particular attention to the development of new types of energy system and the enhancement of market mechanisms for new types of energy storage, with a focus on distributed energy resources. China aims to have its power distribution networks capable of integrating about 500 GW of distributed new energy sources by 2025. However, the current development of distributed new energy lacks strategic guidance and a standardized framework for supervision, necessitating immediate and comprehensive planning instructions from the government.
Manufacturing Enterprises Emphasize Power Battery Recycling
Manufacturing enterprises have significantly increased their suggestions and proposals regarding the power battery sector, particularly focusing on technical standards and recycling processes. China is experiencing a widespread retirement of power batteries, with 168,000 tonnes recorded in 2023, marking a 78.3% increase from the previous year. Despite this rapid growth, the power battery recycling industry is still in its early stages, characterized by small scale, scattered operations, and a lack of organization. As of July 2023, China had over 100,000 registered battery recycling enterprises, with more than 50% having a registered capital of less than 1 million yuan.
Source: Company outlets, GL Consulting
To get detailed full text, send an email to glconsulting@mysteel.com
Edited by Navy Liu: liuchuanjun@mysteel.com
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