“Qiushi” magazine published on June 1 published an article by Zhang Zhigang, Chairman of the State Grid Corporation, “New Energy Security Strategies Lead the High-Quality Development of the Electric Power Industry”. It is proposed that a unified, open, competitive and orderly electricity market system is an important foundation for achieving optimal allocation of electricity resources. The State Grid will help the development of new elements and new business formats, continuously improve the level of management services, and promote the improvement of the electricity price formation mechanism. Strengthen research on entry standards for new business formats such as wind, water and fire storage, source network and cargo storage integration, etc., to promote multi-energy complementarity. Improve mechanisms for participating in the electricity market, such as new energy, distributed power supplies, virtual power plants, and user-side energy storage. CITIC Securities believes that the power system reform is entering the deep-water zone, and it is expected that the core of subsequent changes in the power industry system will focus on several aspects such as continuing to improve the guiding role of price signals, enriching and perfecting the market system adapted to new power systems, improving cost guidance mechanisms, and deepening transmission and distribution price reform. Guojin Securities believes that the core of deepening the reform of the power system is to break down institutional barriers in the electricity marketization process, continue to implement the reform spirit of “control the middle and liberalize both ends”, and benefit the intelligent construction of power grids and market-based electricity business.