On January 1st, China's first energy law officially came into effect. The Energy Law sets out the major policies, fundamental principles, and important systems for China's energy development. So, what institutional designs and reform measures does this national law have to promote energy transformation? Exclusive interview with the relevant person in charge of the National Energy Administration by the reporter. The Energy Law establishes energy planning as a legal system for the first time. Emphasis is placed on the leading, guiding, and regulating role of planning in energy development, while establishing a series of innovative mechanisms in the green and low-carbon development of energy. Request the establishment of a green and low-carbon development target system for energy, elevate the guarantee mechanism for renewable energy electricity consumption to a legal system, and emphasize the priority development and utilization of renewable energy. Wan Jinsong, Deputy Director of the National Energy Administration: It is required to establish a green energy consumption promotion mechanism, implement the green power certificate system for the first time at the legal level, encourage users to prioritize the use of renewable energy, accelerate the construction of a carbon emission dual control mechanism, and promote the formation of green and low-carbon production and lifestyle. Clarify the legal status of hydrogen energy and encourage the development of new energy technologies, formats, and models such as smart microgrids and comprehensive energy services. The Energy Law requires the establishment of a unified national energy trading market for coal, electricity, oil, natural gas, and other energy products, supporting all types of business entities to participate fairly in competitive businesses in the energy sector, and encouraging and guiding various types of funds to invest in energy development, utilization, and technological innovation. Wan Jinsong, Deputy Director of the National Energy Administration: Establish an energy price formation mechanism determined by factors such as supply and demand, sustainable development, etc. Strengthen demand side management and guide energy consumption behavior through improving tiered pricing and time-based pricing. Request to promote independent operation of natural monopoly links and market-oriented reform of competitive links. In addition, the Energy Law innovatively establishes systems for energy capacity reserves and mineral reserves. For the first time, the obligation to reserve corporate social responsibility has been explicitly stated in the law to ensure energy security in extreme situations. (New Society)