China’s Power Reforms: Putting the ‘Market’ Back In the Electricity Market

Editors’ note: This is the second of a three-part-series titled China's Power Reforms, where Caixin looks at efforts to marketize the electricity sector and establish a unified power market. Click here to read part one.

After the power crisis of 2021, when spiking coal prices and dwindling local stocks of the combustible rocks led to power rationing, China tweaked its energy policy in an effort to inject the power market with a little more market.