Sep 18, 2024 07:27 PM
BUSINESS
Analysis: China’s Long-Awaited Draft Energy Law Updated With New Rules for Renewables
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A new-energy project is under construction in Dongying, East China’s Shandong province, on July 31. Photo: VCG
A draft of China’s energy law, which has been nearly two decades in the making, is open for public review for the second time after being revised and reviewed by the country’s lawmakers.
The updated version, released on Friday, carries new rules that clarify Beijing’s plan to develop and use various forms of renewable energy, from solar to biomass, according to a report by the state-run Xinhua News Agency.
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- China’s draft energy law, nearly 20 years in development, is open for public review until Oct. 12.
- The law promotes renewable energy, upgrades the power grid, supports hydrogen energy for decarbonization, and introduces carbon emission and intensity targets.
- The drafting process faced delays due to the sector's complexity and evolving business models.
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Who’s Who
- China Southern Power Grid Co. Ltd.
- China Southern Power Grid Co. Ltd. is a major electric utility in China responsible for the infrastructure and operations related to power distribution in southern China. The company is mentioned in a March column in Energy Observer, a magazine it runs, where it was noted that the evolving business models and trends in the energy sector presented challenges to the drafting of China's new energy law.
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What Happened When
- 2006：
- Chinese energy officials and experts started working on the energy law.
- March, 2024：
- Chen Xinghua wrote a column in Energy Observer explaining the delays in the drafting of China’s energy law.
- April, 2024：
- A draft of China’s energy law was published for public review.
- July, 2024：
- China’s five-year reform plan was released.
- Sept. 9, 2024：
- Press conference held where Wang Xiang described the new energy law as 'foundational and governing' for China's energy sector.
- September 13, 2024：
- Updated version of the draft energy law released for public review.
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