China's green electricity trade under State Grid hits record in first 10 months

The transaction volume of green electricity in the operating area of China's State Grid exceeded 200 billion kilowatt-hours in the first 10 months of this year, setting a new record for the period.

The latest official data shows that from January to October this year, the State Grid organized 202.6 billion kilowatt-hours of green electricity transactions in its operating area, an increase of 62 percent year on year.

Within the State Grid's operating area, the installed capacity of wind power and photovoltaic new energy has so far reached 1.364 billion kilowatts, a year-on-year increase of 33 percent. At the same time, all provincial medium- and long-term markets have achieved continuous daily operation within the area, and an inter-provincial power mutual assistance trading model has been established to promote the optimal allocation of power resources among provinces.

"In terms of improving market mechanisms, we have innovatively launched multi-year green electricity agreements, which have now reached a scale of over 30 billion kilowatt-hours. The agreements provided long-term and stable revenue for new energy companies and a reliable source of green electricity for users," said Liu Shuo, director of the new energy trading department of the Beijing Power Exchange Center.

Currently, China's green electricity trading is using these market mechanisms to achieve optimized allocation of green electricity on a larger scale, ensuring large-scale grid connection and high-proportion consumption of new energy sources.

China's green electricity trade under State Grid hits record in first 10 months

Fuel price hikes due to the U.S.-Israel-Iran conflict are placing significant cost pressures on livelihood industries in the Philippines and New Zealand, which are heavily dependent on imported energy, while also driving the growth of the new energy vehicle market.

In various gas stations across Manila, the Philippine capital, diesel prices have surged more than twice the levels seen at the end of February, with increases also noted in liquefied petroleum gas (LPG) prices.

Businesses such as restaurants and vendors relying on LPG have expressed concerns over escalating costs, fearing they may soon be unable to cover their expenses.

"The cost of our goods has gone up. Our income has decreased as a result. The money we earn is barely enough to cover restocking, let alone pay our employees' wages," said Rey, a food vendor.

In Auckland, New Zealand, a senior executive at a local car dealership said the surge in fuel prices is prompting more consumers in the country to shift from conventional cars to new energy vehicles.

"(Fuel price hike) really has increased the sale of our electric vehicles, particularly battery electric vehicles. Consumers are now experiencing battery electric vehicles. They see their economic advantage. It's good for the market. It's also good for New Zealand in terms of sustainability," said Simon Rutherford, CEO of Auto Distributors New Zealand, a division of Armstrong Motor Group.

Fuel price hikes squeeze livelihoods in energy-importing Philippines, New Zealand