ESS initial enter into China's electricity spot market by "quantity quotation“ way

A total of 2,938MW/9,230MWh was added to global energy storage projects this week, all of which were electrochemical energy storage methode. According to the sum of the scale of bidding and winning projects collected by Dadong Times, energy storage projects in Australia and China are 3,670MWh and 3,268MWh respectively. There are 7 energy storage projects in China, including 2-hour energy storage EPC projects, with an average price of 1.15 yuan /Wh. The global bidding and winning capacity increased from the previous quarter, while the grid-connected capacity decreased from the previous quarter. From the perspective of overseas intraday electricity price, the average and maximum of German peak-valley electricity price spread both increased by month-on-month; The average and maximum of the peak-valley price spread in California increased from the previous quarter, while the average and maximum of the peak-valley price spread in Texas decreased from the previous quarter. In New South Wales, Australia, the average value increased, the maximum value decreased, the average value and the maximum value increased in South Australia, and the average value and the maximum value decreased in Queensland, Australia.


The average price of the cell this week was 0.57 yuan /Wh, and China's independent energy storage entered the electricity spot market for the first time


This week, the price of energy storage projects fell by 6.8% to 0.85 yuan /Wh range. The EPC project offer fell by 0.22 yuan /Wh compared to last week, reaching 1.22/Wh. According to Dadong Times survey results , the average price of the cell of the winning project this week is 0.57 yuan /Wh, mainly LFP cell.


On November 1, the Southern Power Grid Meizhou Baohu independent energy storage electricity station successfully completed the first 31 days of trading in the Guangdong electricity spot market, marking the first time that China's independent energy storage successfully entered the electricity spot market in the way of "quantity quotation", opening up a new path for the marketization of independent energy storage price mechanism and business model. According to the statistics results in October, Baohu energy storage station achieved 844 charge-discharge conversion in the electricity market, and the charge-discharge electricity volume reached 9.31 million kwh. In the case that the total monthly charge-discharge electricity volume was basically the same as before entering the market, the response times were more than 8 times that of the previous month. In addition, Shanxi Datong Herong energy storage electricty Station also participated in the electricity spot trading market in the way of "quantity quotation" on October 19.


New ways such as "new energy + energy storage" enter the market, and the safety requirements of energy storage electricity stations and long duration type energy storage become the development trend of energy storage


This week, the national level issued a energy storage policy "Further accelerate the construction of the electricity spot market Notice" to encourage new entities to participate in the electricty  market and explore new ways such as "new energy + energy storage"; At the provincial level, Hebei, Henan, Sichuan, Liaoning have issued relevant energy storage policies, and the four policies have mentioned the requirement of storage duration of not less than 2 hours. In particular, the Hebei Provincial Development and Reform Commission has made a detailed definition of the market positioning of grid independent energy storage, the organization of electricity energy trading, and the capacity lease transaction in the "2024 Plan for the participation of independent energy storage in the Southern Hebei Power Grid in the Medium and Long Term Trading of electricity". The high increase of wind installed capacity increases the demand for new power system absorption and peak regulation and frequency regulation, superimposes the relevant domestic distribution and storage policies, the long-term trend of energy storage is becoming increasingly clear, and the long-term energy storage route such as all-vanadium flow batteries meets the development opportunity.


Due to Multi-regional peak and valley electricity spread widening, and winter is approaching,  the northern region, especially the northwest region will become the main distribution area of energy storage bidding projects in the fourth quarter


This week announced the November 2023 power grid enterprise agent purchase price across the country, and the peak valley price difference in many regions widened, which released a clear and strong price signal for guiding power users to cut peaks and fill valleys and promote the accelerated development of energy storage. In November, 11 regions in Zhejiang, Guangdong, Hebei, Heilongjiang, Jilin, Liaoning, Qinghai, Shandong, Xinjiang, Fujian and Guangxi implemented peak electricity prices. The largest price difference in Heilongjiang and Jilin exceeded 0.9 yuan /kWh, preparing for the peak winter in the following four quarters, and the largest price difference in November was in the five Pearl River Delta cities in Guangdong Province, reaching 1.3589 yuan /kWh. As of November 3, a total of 20 regions had a peak-valley electricity price difference of more than 0.7 yuan /kWh, an increase of 4 regions over October, and 23 provinces and cities exceeded 0.6 yuan /kWh.


According to the Dadong Times (TD) survey, the northwest region contributed the main increase in the bidding projects this week, with the bidding scale reaching 1,300 MWH, accounting for 67.6 percent. The largest project this week is the independent energy storage EPC project in Croatia, which is located in the Northwest region and has a storage capacity of 1200MWh. About to enter the winter, the current northern region in the peak of electricity consumption, hydropower dry period, hydropower power decreased significantly, as well as the heating period of cogeneration units, the northern region, especially the northwest region will become the main distribution area of energy storage bidding projects.




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