Recently, the Henan Province Development and Reform Commission issued the "Notice on Matters Related to Adjusting Industrial and Commercial Time-of-Use Electricity Prices." Starting from June 1, industrial and commercial time-of-use electricity prices will be adjusted to better ensure the safety and stability of the power system. Operation, on the basis of improving power supply and demand and promoting new energy consumption, further guide users to adjust their electricity load. In this regard, some key chemical companies in Henan Province stated that they will take active actions to optimize production plans and prioritize production activities with high energy consumption during trough periods to reduce energy costs.

It is understood that this adjustment makes detailed provisions on optimizing peak-valley time settings and adjusting peak-valley floating ratios. For example, in summer (June to August) and winter (January, February, and December), an eight-hour peak (including peak) period (16:00 to 24:00) is implemented every day, where the peak period is 17:00 to 19:00 in January and December, 20:00 to 23:00 in July and August; the trough period is 0:00 to 7:00, and other periods are flat periods. From March to May and September to November, the peak period is 16:00 to 24:00, the trough period is 0:00 to 6:00, 11:00 to 14:00, and other periods are flat.

Adjust the peak-to-valley price ratio, and adjust the floating ratio of peak, flat and trough throughout the year to 1.72: 1: 0.45, and the peak floating ratio is 1.2 times the peak floating ratio.

"Further improving time-of-use electricity prices, especially rationally increasing the peak-valley electricity price difference, will help guide users to use more electricity during the trough periods of the power system, create more space for the development of new energy storage, and promote new energy such as wind power and photovoltaic power generation. It is of positive significance to accelerate development, effective consumption, and focus on achieving carbon peak and carbon neutrality goals in the medium and long term." The relevant person in charge of the Henan Province Development and Reform Commission said.

It is reported that this adjustment of industrial and commercial time-of-use electricity prices is expected to achieve three results. The first is to promote the matching of power generation and consumption curves and the consumption of new energy. In order to solve the current problem of unbalanced power generation and electricity consumption at noon and ensure the safe and stable operation of the power grid, the three-hour electricity price for concentrated photovoltaic output from 11:00 to 14:00 will be adjusted from peak hours to flat or trough to guide users to adjust production loads. Use more electricity at noon is expected to reduce the light abandonment rate by 1.61 percentage points. The second is to better serve the guarantee of electricity supply. Appropriately extending the evening peak period to 24:00, and setting the peak period from July to August from 20:00 to 23:00 can shift the evening peak load by 2.5 million kilowatts every year. The third is to facilitate enterprises to adjust production timing. 0:00 to 16:00 is a flat period or trough for 16 consecutive hours, and the company can produce continuously for a long time. At the same time, for enterprises that consume large electricity during the day and have poor load adjustment capacity, implementing flat or valley electricity prices at noon can reduce the impact of the current noon peak electricity prices on electricity costs. Source: China Chemical News