Director of Shandong Provincial Energy Bureau: Guide and reduce the investment and construction costs of energy storage, to ensure reasonable project returns.

On November 5th, the sub-forum "Promoting Global Energy Transformation with High-quality Development of New Energy Storage" of the 8th Hongqiao International Economic Forum was held at the National Exhibition and Convention Center. Zheng Deyan, Deputy Secretary and Deputy Director of the Party Group of the Development and Reform Commission of Shandong Province, and Secretary of the Party Group and Director of the Provincial Energy Bureau, shared the "Shandong Practice" of high-quality development of new energy storage in a special report. "We will accelerate the market-oriented reform process, continuously optimize the energy storage development market environment, appropriately remove the price cap in the spot market, establish a reliable capacity compensation mechanism, timely introduce trading varieties such as ramping and inertia services, promote effective connection between green electricity, green certificates, and carbon emission rights trading, actively establish a market mechanism that fully reflects the value of energy storage contributions, predictable, sustainable, and expandable, ensure reasonable returns for projects, and guide the cost of energy storage investment and construction." Zheng Deyan said.