The document No.5, issued by the State Council of China in 2002, is the milestone of the market-oriented power sector reform. Since then, the regulatory body was set up known as the State Electricity Regulatory Commission (SERC), the power markets are fostering and developing, and the new tariff mechanism was also stipulated. The paper first gives a brief introduction of the power markets development since 2002, so as to sketch today's power markets in China. The main measures of the power markets regulation in China are then discussed, some of which may be of the Chinese characteristics. The main tasks of power markets regulation are presented in the end. It is believed that the tasks will adapt to the development of power markets.
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