Recently, the October 2026 grid enterprise agency power purchase prices were announced, with the original table of agency power purchase prices for all provinces nationwide attached at the end.
A summary and comparison of the general industrial and commercial 1-10 (20) kV single-part tariff and two-part tariff (excluding the 1.5x multiplier) across all provinces and municipalities nationwide has been compiled.
General industrial and commercial 1-10 (20) kV single-part tariff: From the perspective of maximum peak-valley price spread, the national average spread in October was approximately 0.57 yuan/kWh. The first tier consists of Guangdong's four major regions, all exceeding 1.1 yuan/kWh, making them the areas with the highest energy storage arbitrage potential nationwide. Among them, Guangdong-Pearl River Delta six cities ranked first nationally with 1.3056 yuan/kWh, with the sharp peak price reaching 1.6175 yuan/kWh; Huizhou, the eastern and western wings, and northern Guangdong followed closely behind. Shandong ranked fifth nationally with 0.8777 yuan/kWh. The high price spread stems from relatively high sharp peak prices combined with extremely low valley prices. Regions with such a "high peak, high price; low valley, low price" electricity pricing structure create a considerable revenue foundation for energy storage.
The second tier has a price spread range of 0.6-0.8 yuan/kWh, including Chongqing, Tianjin, Zhejiang, northern Hebei, Henan, southern Hebei, Anhui, Hunan, and other regions; the third tier has a price spread of 0.4-0.6 yuan/kWh, with representative regions including Beijing, Sichuan, Hainan, Jiangxi, Jiangsu, Hubei, Shaanxi, and Fujian; while Ningxia, Gansu, eastern Inner Mongolia, Yunnan, Liaoning, Xinjiang, and other places generally have peak-valley price spreads below 0.3 yuan/kWh.
In terms of time-of-use pricing settings, some provinces have added sharp peak and deep valley prices to further widen the price spread. Guangdong, Shandong, southern Hebei, northern Hebei, and Hubei have set sharp peak prices; Shandong, Zhejiang, southern Hebei, northern Hebei, Jiangxi, and Shanxi have introduced deep valley prices. Compared with September, Zhejiang and Shanxi are newly added provinces implementing deep valley pricing. Most provinces do not have sharp peak prices and only implement the three-tier pricing of peak-flat-valley.
Two-part tariff (excluding the 1.5x multiplier): The national average price spread for the two-part tariff in October was approximately 0.56 yuan/kWh, with the overall average level close to that of the single-part tariff, but significant differences in electricity pricing structure exist within regions. The time-of-use prices under the two-part tariff are generally lower than those under the single-part tariff. The average prices for peak, flat, and valley periods are generally 0.06-0.09 yuan/kWh lower than those under the single-part tariff.
The leading regions are still led by Guangdong's four major areas, with Guangdong-Pearl River Delta six cities having a maximum peak-valley price spread of 1.1783 yuan/kWh, the highest nationwide. Shanghai, relying on a deep valley price of 0.1731 yuan/kWh, achieved a maximum peak-valley price spread of 0.8068 yuan/kWh. Shandong, Zhejiang, northern Hebei, and southern Hebei also maintained relatively high price spreads; while most northwestern provinces such as Ningxia, Gansu, eastern Inner Mongolia, and Xinjiang still have low peak-valley price spreads.
For energy storage practitioners, Guangdong remains a premium market for energy storage investment. Regardless of whether it is the single-part or two-part tariff, the peak-valley price spreads in Guangdong's four major regions are far ahead. The sharp peak plus valley pricing structure ensures strong economic viability for user-side energy storage. The Pearl River Delta, Huizhou, the eastern and western wings, and northern Guangdong all have development value. However, relying solely on the peak-valley arbitrage model yields relatively weak profitability; energy storage projects need to combine multiple revenue sources such as demand management, demand response, and renewable energy storage co-location to be viable.
Details of 1-10 kV peak-valley price spreads under single-part/two-part tariffs across various regions: The following are the original announcements of agency power purchase prices for all provinces nationwide in October 2026, in order: 1. Gansu, 2. Anhui, 3. Beijing, 4. Chongqing, 5. Fujian, 6. Hunan, 7. Jiangsu, 8. Southern Hebei, 9. Northern Hebei, 10. Hubei, 11. Jiangxi, 12. Heilongjiang, 13. Jilin, 14. Liaoning, 15. Henan, 16. Eastern Inner Mongolia, 17. Western Inner Mongolia, 18. Shaanxi, 19. Shanghai, 20. Sichuan, 21. Shandong, 22. Ningxia, 23. Qinghai, 24. Shanxi, 25. Zhejiang, 26. Tianjin, 27. Xinjiang, 28. Guangdong, 29. Guangxi, 30. Guizhou, 31. Hainan, 32. Yunnan. 1. Gansu 2. Anhui 3. Beijing 4. Chongqing 5. Fujian 6. Hunan 7. Jiangsu 8. Southern Hebei 9. Northern Hebei 10. Hubei 11. Jiangxi 12. Heilongjiang 13. Jilin 14. Liaoning 15. Henan 16. Eastern Inner Mongolia 17. Western Inner Mongolia 18. Shaanxi 19. Shanghai 20. Sichuan 21. Shandong 22. Ningxia 23. Qinghai 24. Shanxi 25. Zhejiang 26. Tianjin 27. Xinjiang 28. Guangdong 29. Guangxi 30. Guizhou 31. Hainan 32. Yunnan
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