NEA: renewable energy power generation subsidy will (in principle) be paid within 10 working days

NEA: renewable energy power generation subsidy will (in principle) be paid within 10 working days

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On November 2, the NEA issued an announcement for public comments on the “Measures for Settlement of Electricity Charges for Power Generation Companies and Grid Companies (Draft for Comment)” (hereinafter referred to as the “announcement”).

The announcement pointed out that grid companies should promptly and fully transfer subsidies from the central government to renewable energy power generation companies included in the scope of state subsidies. In principle, power grid companies will promptly allocate them to renewable energy power generation companies in accordance with relevant requirements within 10 working days of receiving subsidies from the central government.

The announcement also clarified that power generation companies and power grid companies should sign power purchase and sales contracts in accordance with relevant requirements. If they have not signed power purchase and sales contracts, they shall not conduct electricity bill settlement.

Finally, the announcement emphasized that grid companies must not issue acceptance bills on their own to pay power generation companies' electricity bills and must not use acceptance bills to transfer renewable energy power generation companies' financial subsidies.

These measures shall come into effect on January 1, 2021 and shall be valid for three years.

(NEA)