国家发展改革委、国家能源局发布的114号文，为我国发电侧容量机制改革明确了“分类完善—可靠容量补偿—容量市场”的三步演进路径。其中，第二阶段建立发电侧可靠容量补偿机制，是衔接现行容量电价与未来容量市场的关键环节。本文结合114号文要求及甘肃、青海等地方实践，分析当前容量机制在资源统一比较、供需匹配和动态调整等方面存在的问题，并借鉴欧美成熟电力市场经验，提出以下建议：一是建立技术中立、统一透明的可靠容量评估体系，实现各类资源公平竞争；二是以资源充裕度评估为基础，将容量补偿与系统供需关系动态挂钩。三是建立动态调整机制，促进容量价格反映真实供需。只有夯实第二阶段改革基础，用统一的标准衡量各种资源的贡献，用前瞻性的供需评估决定补偿水平，基于用户承受能力与动态调整机制防止补贴固化，同时配合扩大容量资源的考量范围降低用户电价成本，才能顺利过渡到竞争性的容量市场，更有效支撑新型电力系统建设。

本文首刊于《能源决策与参考》，2026年6月

China’s recently issued Document No. 114, jointly released by the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA), sets out a three-stage roadmap for reforming the generation-side capacity mechanism: improving resource-specific capacity payments, introducing a reliability-based capacity compensation mechanism, and ultimately transitioning to competitive capacity markets. The second stage is the critical bridge between today’s administrative capacity pricing and future market-based capacity procurement.

Drawing on the requirements of Document No. 114 and emerging provincial practices in Gansu and Qinghai, this paper examines key gaps in the current framework.These gaps include the lack of a unified approach to comparing different resources, weak links between compensation and system adequacy, and limited price adjustment mechanisms. It recommends establishing a transparent, technology-neutral framework for reliable capacity assessment, linking compensation to forward-looking resource adequacy and evolving supply-demand conditions, and introducing dynamic pricing mechanisms that better reflect actual system needs. Together, these reforms would broaden participation by diverse capacity resources, improve reliability, reduce system costs, and lay the foundation for a competitive capacity market that better supports the development of China’s new power system.