GB/T 45905.10-2025 in English

Overview of the Electricity Spot Market Operation Evaluation Standard System

GB/T 45905.10-2025, the 10th part of the electricity spot market operation standard series, focuses on the operation evaluation phase, establishing a comprehensive evaluation indicator system and methodological framework. Jointly issued by the State Administration for Market Regulation and the Standardization Administration of China in 2025, this standard marks a new stage of standardization and regularization in my country's electricity spot market operation evaluation.

Background of Standardization Development and Technological Evolution

With the deepening of power system reform and the accelerated construction of a new power system, the demand for electricity spot market operation evaluation has become increasingly prominent. This standard builds on the technical accumulation of the previous eight parts and establishes a scientific evaluation system targeting key issues in market operations. From the first batch of spot market pilots in 2018 to the construction of a unified national electricity market system in 2025, the operation evaluation standard has undergone a process of evolution from non-existence to completion, from coarse to fine-grained.

Detailed explanation of the core evaluation indicator system

The standard stipulates 20 specific evaluation indicators in five categories, each of which targets a different dimension of market operation:

Market structure indicators

Including four indicators: average HHI index, average TOP-m index, marginal power generation concentration and proportion of time periods triggering market power regulation, which are mainly used to assess the degree of market competition and market power risks.

Market Supply and Demand Indicators

It covers three indicators: the power supply-demand ratio, the marketization rate on the power generation side, and the marketization rate on the user side, reflecting the market supply and demand balance and the degree of market participation.

Market declaration indicators

Includes four indicators: the proportion of user-side declarations, the deviation of coal-fired unit bids from cost, and the proportion of price limit declarations, assessing the rationality of market declaration behavior.

Market price indicators

Includes six price-related indicators, assessing the effectiveness of the price formation mechanism from the perspectives of price fluctuations, inter-market price differences, and peak-valley price differences.

Market operation indicators

Includes three indicators: the proportion of clearing price limits, the blockage rate of key sections, and the restricted rate of coal-fired power units, monitoring the stability and reliability of market operations.

Evaluation methods and process specifications

The standard provides three evaluation methods: single indicator evaluation, dimensional evaluation, and comprehensive evaluation, each suitable for different evaluation objectives and scenarios.

Standardization Methods

Appendix A specifies in detail the standardization methods for extremely large and extremely small indicators to ensure the comparability of indicators of different dimensions:

• Extremely large indicators: the larger the value, the better, such as marketization rate and supply-demand ratio
• Extremely small indicators: the smaller the value, the better, such as price fluctuation and congestion rate

Weight Determination and Scoring Criteria

The standard provides a scientific weight determination method, including the subjective and objective comprehensive weighting method and the multi-attribute decision-making grey correlation method:

The scoring standard uses a percentage system, and a value greater than 80% after standardization is rated as good, providing a clear improvement target for market operations.

Implementation Suggestions and Application Cases

Data Collection and Processing

Before implementing the assessment, a complete data collection system must be established to ensure the reliability and timeliness of the data source:

• Data Sources: Power trading institutions, power grid companies, power generation companies, users
• Data Period: Determined according to the assessment type (day, month, year)
• Quality Control: Establish a data verification and review mechanism

Selection of Assessment Period

Different types of assessments should use different periods:

• Market Structure: Monthly or Quarterly Assessment
• Market Operation: Daily Monitoring, Monthly Assessment
• Comprehensive Assessment: Annual Comprehensive Assessment

Typical Application Cases

Taking a provincial spot market as an example, this standard is adopted to conduct an annual comprehensive evaluation:

1. Collect market operation data throughout the year
2. Calculate the values of 20 evaluation indicators
3. Perform standardization
4. Use a subjective and objective comprehensive weighting method to determine the weights
5. Generate a comprehensive evaluation report and put forward improvement suggestions

The evaluation found that the provincial market had obvious shortcomings in terms of the user-side marketization rate and key section blocking rate, and corresponding improvement measures were formulated accordingly.

The Importance of Standard Implementation

The implementation of GB/T 45905.10-2025 is of great significance to the construction of the electricity spot market:

This standard provides important technical support for building a unified national electricity market system, and helps promote the transformation and upgrading of the electricity spot market from "whether or not" to "how good".

Future Development and Outlook

With the deepening of power market reform and the acceleration of energy transformation, the evaluation standards for power spot market operations also need to be continuously improved:

• Increase in the proportion of new energy: It is necessary to increase the evaluation indicators for new energy participation in the market
• Cross-provincial and cross-regional transactions: It is necessary to improve the inter-provincial market coordination and evaluation mechanism
• Digital transformation: Utilize big data and artificial intelligence technologies to improve evaluation efficiency
• Carbon market connection: Consider the evaluation dimension of carbon-electricity market synergy

This standard has laid a solid foundation for the high-quality development of the power spot market. It will continue to be revised and improved in the future to better serve the construction of new power systems and energy transformation strategies.