In 20 17, the State Council implemented the restructuring of the central enterprise company system. The company was changed from an enterprise owned by the whole people to a wholly state-owned company, and its name was changed to "State Grid Corporation".
On February 22, 2020, in order to alleviate the pressure of enterprises' operation and help enterprises to resume work and production, the National Development and Reform Commission announced the policy of reducing the electricity cost of enterprises in stages, which is expected to reduce the electricity cost of large-scale industries and general industrial and commercial enterprises by about 48.9 billion yuan. In April, 2020, it was selected into the list of "Science and Technology Reform Demonstration Enterprises" of the State Council State-owned Assets Supervision and Administration Commission.
Historical evolution:
China electric power industry has a history of 140 years.
1949 after the establishment of People's Republic of China (PRC), the management system of electric power industry has undergone many changes, including the Ministry of fuel industry, the Ministry of electric power industry, the Ministry of water and electricity, and the Ministry of energy. The Ministry of electric power industry was established in 1993.
1997, the state power company was established and operated with two brands and one team of the Ministry of Electric Power Industry.
In 2002, the State Council implemented the power system reform, and decided to set up State Grid Corporation on the basis of some enterprises and institutions of the former State Power Corporation, which was managed by the central government. The State Council authorized State Grid Corporation as the investor representative of the power grid assets managed by the former State Grid Corporation.