Event: the National Energy Administration recently revised and issued the regulations on the management of power grid connected operation and the measures for the management of power auxiliary services (hereinafter referred to as the regulations and measures): expanding the scope of auxiliary service providers; Standardize the classification of auxiliary services and enrich new varieties of services; Further clarify the compensation mode and sharing mechanism, and improve the new user sharing mechanism.
Expand the scope of auxiliary service providers and service varieties, and usher in opportunities for new energy storage and user side. The scope of auxiliary service providers is expanded from thermal power plants and hydropower plants to include new energy storage, self owned power plants, traditional high load industrial loads, industrial and commercial interruptible loads, electric vehicle charging networks, aggregators, virtual power plants and other subjects, which are collectively referred to as "grid connected subjects"; New varieties of auxiliary services such as moment of inertia, climbing, stable machine cutting service and stable load cutting service are introduced. The measures formally defined the auxiliary service status of new energy storage and user side adjustable load at the national level for the first time; The measures introduce new auxiliary services such as moment of inertia, climbing, stable machine cutting service and stable load cutting service, which is essentially to speed up the adaptation to the new power system with new energy as the main body. Accordingly, the regulations specify that the grid connected main body shall, under the unified dispatching of the power dispatching organization, consider the operation characteristics of the unit, implement relevant measures for frequency modulation and voltage regulation, so as to ensure that the power quality meets the national standards.
"Who provides, who profits; who benefits, who bears", restore the attribute of electric energy commodity. In terms of compensation methods, it is clear that paid power auxiliary services can be provided through fixed compensation or marketization, and competition is encouraged to determine the grid connection subject undertaking power auxiliary services. Marketization methods include centralized bidding, public bidding / listing / auction, bilateral negotiation, etc; In terms of sharing mechanism, the compensation cost is shared by all grid connected entities such as power generation enterprises and market-oriented power users. Previously, the compensation cost mainly came from the assessment cost of auxiliary services, and the insufficient (surplus) part was shared by the grid connected power plants according to the unified standard. The regulations and measures have established a market-oriented mechanism for auxiliary service fees, restored the commodity attribute of electric energy, and truly achieved "who provides, who makes profits; who benefits, who bears".
Connect with the power spot market to reflect inclusiveness. In the pilot area of electric power spot, the agency of the national energy administration shall coordinate the connection and formulate the trading rules of the electric power auxiliary service market according to the operation needs of the local power system and the operation of the spot market. During the operation of the spot market, if the system peak shaving function has been fully realized through the electric energy market mechanism, the peak shaving auxiliary service varieties parallel to the spot market will not be set in principle. The new energy storage has participated in the auxiliary service market in some provinces. It is further clarified at the national level this time, which is conducive to accelerating the promotion of the unified market. In May 2021, the pilot scheme for third-party independent entities in Zhejiang Province to participate in the trading of electric auxiliary service market (Trial) (Draft for comments) was released, which included "energy storage devices, electric vehicles (charging piles), load side regulation resources, load aggregators and virtual power plants" into the entities providing auxiliary services, and carried out the first trial operation from August 4 to 6.
Investment suggestion: with the gradual rationalization of the business model of auxiliary services, the economy of energy storage participating in the auxiliary service market is improved. It is recommended to pay attention to the energy storage at the grid side: Yunnan Wenshan Electric Power Co.Ltd(600995) , China Southern Power Grid technology, Shaanxi Baoguang Vacuum Electronic Apparatus Co.Ltd(600379) , Guangzhou Zhiguang Electric Co.Ltd(002169) ; Power grid dispatching system: Nari Technology Co.Ltd(600406) , Beijing Sifang Automation Co.Ltd(601126) ; Electrochemical energy storage: Contemporary Amperex Technology Co.Limited(300750) , Eve Energy Co.Ltd(300014) , Gotion High-Tech Co.Ltd(002074) , Sungrow Power Supply Co.Ltd(300274) , Fujian Nebula Electronics.Ltd(300648) .
Risk analysis: the implementation of policies is not as expected.
