China to Use Blockchain for Full-Chain Green Power Certification and National Power Market Reform

China’s State Council has proposed using blockchain to provide full-chain verification of green electricity across production, trading and consumption as part of a plan to build a unified national power market by 2030. The directive calls for distributed-ledger certification of renewable generation and consumption, improved traceability of green power usage, and exploring links between green certificates and national carbon-accounting. Officials target market-based electricity transactions to cover about 70% of consumption by 2030, with spot markets fully operating by 2027 and broader participation from generators, large users and intermediaries. The policy expands green-certificate mechanisms (mandatory and voluntary purchases), tightens price monitoring to curb volatility, and seeks consolidation of regional power exchanges and unified cross‑province trading rules. It also proposes capacity markets and access for virtual power plants, smart microgrids and other flexible resources, while requiring fair transmission cost-sharing. Blockchain and related technologies will ensure data integrity and verifiable records across production-to-consumption chains, and authorities will study integrating green certificates into carbon accounting — a link that could create new asset flows or demand for tokenized credits. Traders should monitor implementation timelines, green certificate supply and demand, any formal linkage to carbon markets, and technical standards for blockchain certification that might enable tokenization or new market instruments.