Starting October 1, 2026, Shandong Province will implement a revamped time-of-use electricity pricing mechanism, featuring extended off-peak periods that can stretch up to seven hours during the daytime.

On September 7, the Shandong Provincial Development and Reform Commission issued a new directive to optimize the time-of-use tariff framework. The policy adjusts the maximum annual duration for low-valley periods, including deep-valley segments, and high-peak periods, including super-peak segments, from 2,190 hours each to 2,628 hours each. Similarly, the caps for super-peak and deep-valley periods specifically will rise from 1,200 hours to 1,500 hours annually.

Following this directive, State Grid Shandong Electric Power Company has announced the revised peak and valley time windows that will take effect from October 1, 2026. Under the new rules for commercial and industrial users, electricity prices during high-peak periods will surge by 70%, while valley periods will see a 70% discount. Super-peak periods will command a 100% premium, and deep-valley periods will offer a 90% reduction.

The specific time divisions are adjusted by season. From January to February and in December, valley hours run from 2:00 to 6:00 and 10:00 to 15:00, with deep-valley pricing from 11:00 to 14:00. Peak hours are set from 7:00 to 9:00 and 16:00 to 21:00, including super-peak from 16:00 to 19:00. All other times fall under standard pricing.

Between March and June, the valley period shifts to 8:00 through 15:00, with the deep-valley window between 10:00 and 14:00. Peak hours are from 17:00 to 23:00, featuring a super-peak stretch from 17:00 to 22:00.

During the heat of July and August, valley hours are limited to the early morning from 1:00 to 6:00, while peak periods run from 16:00 to 23:00, with super-peak from 17:00 to 22:00.

For the autumn months of September through November, the valley window is observed from 9:00 to 15:00, including deep-valley pricing from 11:00 to 14:00. Peak hours span 16:00 to 22:00, with super-peak from 17:00 to 20:00.

The provincial authorities have also included flexibility measures in the policy. If unexpected factors such as tight power supply or extreme weather emerge during the year, State Grid Shandong Electric Power Company is required to adjust the unexecuted peak and valley periods, with any changes announced to the public at least 15 days in advance.

Retail packages with fixed time-of-use terms that were signed under the current policy can continue until their contracts expire. However, all new retail agreements must adhere to the optimized time windows. The directive also leaves the door open for exploring staggered time-of-use pricing across different regions to better align tariff schedules with local consumption characteristics.

The policy was jointly issued by the Shandong Provincial Development and Reform Commission, the Shandong Office of the National Energy Administration, and the Shandong Provincial Energy Administration.