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Big Data and Big Market for Electricity

Dec 16-2024   



*This article is based on a speech by Song Mingxia, Director of the People's Daily Digital Communication Research Centre and President of the People's Carbon Neutral Institute.

 

In the context of the current green and low-carbon transformation, China's electric-power industry is undergoing profound changes. I will discuss the intrinsic link between big data and the big market of electricity from three dimensions: cognition, action and challenges.

Cognition

First of all, electricity big data is not something new, and with the progress of science and technology, we are gradually realizing the strategic value behind these data. Basic Operating Rules for the Electric Power Market were developed in 2005 and revised in 2023. The two main objectives from national level are: by 2025, the national unified electricity market system will be initially completed; by 2030, the national unified electricity market system will be substantially completed. The importance of a large electricity market is mainly reflected in four aspects: first, to support efficient transformation; second, to optimize the energy structure; third, to promote market vitality; and fourth, to achieve balanced development.

The above perception can be summed up as follows: the large electricity market is important in the national unified large market, which is of vital importance for the dual carbon target; energy security is the cornerstone of national social development, and electricity is crucial in the construction of the national unified large market.

Action

At the action level, through the case studies, we found that problems within the electricity system are now being solved through the application of big data technology. In several cities, including Zhangjiakou, Qinhuangdao and Langfang, big data for electricity has enabled deep integration into the local economy. From the local and municipal level to the provincial level, the mechanism for refining and feedback of electricity big data has further matured. For example, in Beijing-Tianjin-Hebei Urban Agglomeration, electric-power big data has played an important role in promoting the economic integration of the three places, the transformation of the economic structure and the analysis of the industrial situation of the industry, and has become an important reference for regional economic development.

Challenges

Despite the remarkable progress we have made, the development of big electric-power data and big electric-power market still faces many challenges, especially in cross-industry and cross-regional connectivity, and security and openness have become urgent issues.

I would like to highlight four key words, namely "legislation first", "applicable standards", "scientific and technological security" and "management mechanism". First, on the issue of energy data security and openness, legislation must be one step ahead to meet the future demand for data openness. Second, the application of standards is the key to promoting the industry. Third, technological security is the core driving force for the integration and development of electric-power big data and electric-power big market. Fourth, the establishment of management mechanism is also indispensable.

In summary, the deep integration of electric-power big data and electric-power big market is not only a strong driving force for social development, but also an important engine for economic transformation. Overall, legislation is the basic guarantee for the deep and sustainable development of this integration process.

Big Data and Big Market for Electricity

Dec 16-2024   



*This article is based on a speech by Song Mingxia, Director of the People's Daily Digital Communication Research Centre and President of the People's Carbon Neutral Institute.

 

In the context of the current green and low-carbon transformation, China's electric-power industry is undergoing profound changes. I will discuss the intrinsic link between big data and the big market of electricity from three dimensions: cognition, action and challenges.

Cognition

First of all, electricity big data is not something new, and with the progress of science and technology, we are gradually realizing the strategic value behind these data. Basic Operating Rules for the Electric Power Market were developed in 2005 and revised in 2023. The two main objectives from national level are: by 2025, the national unified electricity market system will be initially completed; by 2030, the national unified electricity market system will be substantially completed. The importance of a large electricity market is mainly reflected in four aspects: first, to support efficient transformation; second, to optimize the energy structure; third, to promote market vitality; and fourth, to achieve balanced development.

The above perception can be summed up as follows: the large electricity market is important in the national unified large market, which is of vital importance for the dual carbon target; energy security is the cornerstone of national social development, and electricity is crucial in the construction of the national unified large market.

Action

At the action level, through the case studies, we found that problems within the electricity system are now being solved through the application of big data technology. In several cities, including Zhangjiakou, Qinhuangdao and Langfang, big data for electricity has enabled deep integration into the local economy. From the local and municipal level to the provincial level, the mechanism for refining and feedback of electricity big data has further matured. For example, in Beijing-Tianjin-Hebei Urban Agglomeration, electric-power big data has played an important role in promoting the economic integration of the three places, the transformation of the economic structure and the analysis of the industrial situation of the industry, and has become an important reference for regional economic development.

Challenges

Despite the remarkable progress we have made, the development of big electric-power data and big electric-power market still faces many challenges, especially in cross-industry and cross-regional connectivity, and security and openness have become urgent issues.

I would like to highlight four key words, namely "legislation first", "applicable standards", "scientific and technological security" and "management mechanism". First, on the issue of energy data security and openness, legislation must be one step ahead to meet the future demand for data openness. Second, the application of standards is the key to promoting the industry. Third, technological security is the core driving force for the integration and development of electric-power big data and electric-power big market. Fourth, the establishment of management mechanism is also indispensable.

In summary, the deep integration of electric-power big data and electric-power big market is not only a strong driving force for social development, but also an important engine for economic transformation. Overall, legislation is the basic guarantee for the deep and sustainable development of this integration process.