China's thermal power investment fell for six years

2019-01-29 10:02:10
According to the latest annual “Electric Power Regulatory Report (2011)” (hereinafter referred to as the “Report”) published by the State Electricity Regulatory Commission, the national thermal power investment fell by as much as 26% in 2011 and has been falling for six consecutive years. The amount of clean energy generated by the trend is only slowly rising by 0.9 percentage points. These two figures reflect the dilemma of the thermal power industry, and the prospects for power supply are worrying. Experts say that revitalizing the power market has become a top priority. Thermal power investment plummeted "Report" shows that in 2011, Huaneng, Datang, Huadian, Guodian, China Power Investment Corporation's five major power generation group's power business loss of 15.117 billion yuan, a negative growth of 348.32%. Except for Huaneng Power's profit of 192 million yuan, all others were at a loss. At the same time, since 2005, China's total power investment has remained above 300 billion yuan, but thermal power investment has declined year by year. In 2011, the total investment in thermal power was less than half of that in 2005, only 105.4 billion yuan, a year-on-year decrease of 37.2 billion yuan, a drop of 26. %. The Electricity Regulatory Commission said that as the mainstay of power supply, the continued decline in thermal power investment will have a major impact on power supply. Another group of equally noteworthy data is that in 2011, China's clean energy generation increased by 0.9% year-on-year. The tumultuous investment in thermal power has cast a shadow over the prospects for electricity supply, and the slow-growing clean energy is difficult to “charge” the electricity demand market in a short period of time. Insiders analyzed that there is a deeper supply and demand crisis behind the above phenomenon. Unbalanced coal-fired power market For the current situation of sluggish thermal power development, Professor Lin Boqiang of Xiamen University Energy Research Center summarized the term “tangled”. He analyzed that at present, 80% of China's electricity supply comes from thermal power generation, and clean energy accounts for only a small part. Even if the solar energy development is suspended immediately, it will not have much impact on daily life, and if the thermal power generation is shut down, it will definitely cause the overall smashing of the global factory. The main crux of the current power market is the coal price. Coal as a source of thermal power, the pre-purchase price has been rising, resulting in higher thermal power production costs, but in contrast, the external output of electricity prices has been low, although some provinces have loosened the price of electricity, but between the two The price gap is so difficult for investors to see the benefits. In addition, according to statistics, in recent years, China's power generation companies have high debt ratios, especially in 2011, the debt ratio was as high as 85.71%. Because the losses are too high and the asset-liability ratio is high, many companies are unable to increase their investment, which also makes the growth potential of power companies decline. Revitalizing thermal power is a top priority. The prospect of thermal power is worrying and should be taken seriously by all parties. Lin Boqiang admits that the 26% decline in investment is a shocking number for the entire power generation industry. In addition, some insiders said that it is still too early to talk about China's "clean energy era." Clean energy is the future direction for the country to adjust its energy structure and achieve environmental optimization. It will also become a substitute for thermal power generation, but it will take at least 2030 for new energy to become a climate. Therefore, to solve the power shortage, the final need to settle down on thermal power. Industry experts generally believe that in the face of the depressed thermal power market, the government should be the main pusher to change the situation. On the one hand, 71.41% of the installed capacity is controlled by 27 large state-owned power generation groups; on the other hand, the government has great leverage in price adjustment. Lin Boqiang believes that the government can provide a subsidized thermal power market and encourage the integration of private capital into the electricity market.

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