The smart grid readying is associate optimum resolution to the present-day power sector issues like environmental pollution caused by typical power generation, grid losses, as well as poor reliableness and accessibility of
BEIJING, July 11 (Reuters) - China Southern Power Grid saw power demand soar to a record 226 gigawatts (GW) on Monday, according to a post on the grid company's official Weibo account on Tuesday.
China ’s creaking grid represents a major constraint to progress on its green energy transition. During the first four months of this year alone, China invested Rmb122.9bn ($17bn) in its power grid projects, a 24.9 per cent year-on-year increase.
The technology acts as a key component in China's proposal to build a global power grid, known as the Global Energy Interconnection. The idea – announced by China's president Xi Jinping at a United Nations summit in 2015 – is to link up national grids over the next three decades.
China's grid system predominantly distributes power between provinces through fixed medium-to-long term contracts, which do not accommodate changes in regional demand and supply conditions. More than 90% of market-based power trading in China is conducted through these mid-to-long term contracts, according to S&P Global Commodity Insights.
During the first four months of this year alone, China invested Rmb122.9bn ($17bn) in its power grid projects, a 24.9 per cent year-on-year increase. That compares with the $3.5bn announced last October by US President Joe Biden’s administration, which covers 58 projects across 44 states.
“China’s electric grid doesn’t lack generation capacity. The grid lacks adequate flexibility and responsiveness,” said Xie. “In order to scale up renewable energy in time to make it to net zero [by] 2060, China needs to resolve these dire inefficiencies in its grid infrastructure and grid management.”
