Guangdong power spot market is the largest and longest running provincial power market in China. In 2025, the annual transaction scale of Guangdong electric power market will reach 654.18 billion kWh, of which 458.63 billion kWh will be directly traded in the market. By the end of 2025, the province’s new energy installed capacity will exceed 79.73 million kilowatts, surpassing coal power to become the largest power source type in the province. New energy on-line electricity has fully participated in market-oriented transactions.
In this context, the node price is becoming an unavoidable variable in the calculation of the income of Guangdong photovoltaic projects.
The so-called node price (LMP) refers to the electricity price mechanism based on the physical location of the generator set, and the price of different substation nodes may vary significantly during the same time period. According to the 2025 semi-annual report of Guangdong Electric Power Market, the spot price in Guangdong fluctuates between 0.088 and 0.547 yuan/kWh in the first half of 2025, while the price difference between different nodes in the segment can exceed 0.3 yuan/kWh.
What does this mean for new energy power generation companies?
Projects located in high-node electricity price areas can enjoy excess returns when the deviation is settled; while projects located in low-node electricity price areas (I. e. transmission congestion receiving end), the deviation electricity is settled at the node price lower than the average price of the whole province, and the annual loss cannot be ignored.
However, the Sobi PV network study found that a large number of photovoltaic projects in Guangdong have not yet incorporated the historical data of node electricity prices into the site selection analysis at the feasibility study stage. On November 1, 2025, the full entry of new energy into the market has been officially landed, and the risk of node electricity price has changed from “future trend” to “current reality”.
This report combs through the core logic of the node electricity price mechanism, four common cognitive misconceptions, as well as the practical suggestions of power stations, green power trading participants, and power companies, all of which are from the official annual report of the Guangdong Power Trading Center and the report of the National Energy Administration, which are verifiable.
April 21, the 2026 Guangdong New Energy Power Development Conference and the 13th Guangdong Photovoltaic Forum will be held in Guangzhou. The conference will focus on the new landscape facing Guangdong’s photovoltaic industry, featuring policy briefings, market analysis, and case-study presentations. Key topics for discussion will include renewable energy grid integration, zero-carbon park development, practical aspects of green electricity trading, and optimal PV–storage deployment ratios for distributed generation systems.
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The conference assistant will also provide you with a special in-person event gift bag!
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