Hainan Adjusts Peak-Valley Time-of-Use Pricing for Electric Vehicles

Hainan Province, China, is adjusting its peak-valley time-of-use pricing policy for electric vehicles to address grid pressure during summer months. The new policy, effective from October 1, 2024, aims to encourage charging during off-peak hours, reducing strain on the power grid. The policy adjusts the peak, valley, and flat time periods for different types of electric vehicle charging stations, shifting some periods to encourage charging during less-demanding times. The move follows a trend seen in other regions to manage the growing demand for electric vehicle charging and ensure grid stability.