According to the incomplete analysis by the reporter of Securities Daily, a new round of electricity price reform was launched on the 10th (as of the press release), and more than 10 provinces have taken active actions and coal-fired power generation goes online The market-oriented reform of electricity prices is being carried out in an orderly manner in various regions. Among them, the electricity market transaction prices in Shandong, Jiangsu, Guizhou, Anhui and other places have risen by more than 19% compared with the benchmark electricity price; the 5 southern provinces and Gansu, Shanxi, Jiangxi, Ningxia and other places have accelerated the realization of coal power market transactions.
Experts interviewed by the “Securities Daily” believe that the previous method of adjusting the excessively high electricity load through power curtailment will be adjusted by price means, and on the one hand, it will increase The enthusiasm of coal-fired power plants to generate electricity, on the other hand, also makes electricity curtailment no longer one-size-fits-all, which helps companies arrange their own production plans based on power costs. At the same time, for high-energy-consuming enterprises, it is necessary to reconsider their production costs, improve energy efficiency, and achieve high-quality development.
More than 10 provinces have actively promoted it.
On October 12, the National Development and Reform Commission issued the The Reform Notice (hereinafter referred to as the “Notice”) clarifies that the range of fluctuations in market transaction electricity prices will be expanded to “in principle, neither will fluctuate more than 20%”, and market transaction electricity prices for high-energy-consuming enterprises will not be subject to a 20% increase. The new regulations will be implemented on October 15.
Since the implementation of the electricity price market reform for 10 days, the electricity market transaction prices in Shandong, Jiangsu, Guizhou, Anhui and other places have all risen from the benchmark price, basically touching this round of electricity prices The upper limit of reform requirements.
For example, on October 15th, Shandong Electric Power Trading Center organized and carried out the first transaction after deepening the market-oriented reform of coal power feed-in tariff. There were 49 coal-fired power generation companies ( 97 units) participated in 79 electricity sales companies and 5 electricity users, and the average transaction price was 19.8% higher than the benchmark electricity price; on the same day, JiangxiThe Soviet organization launched a listing transaction in mid-October, and the transaction price was 19.94% higher than the benchmark price; on October 21, the Guizhou Electric Power Trading Center organized a monthly centralized bidding transaction in November. The reporter calculated that the transaction price was unified. It was 19.97% higher than the benchmark price; on October 24, the Anhui Electric Power Trading Center released the results of centralized trading transactions in October. The reporter calculated that it was 19.98% higher than the benchmark price.
In addition to expanding the range of fluctuations in market transaction electricity prices, the “Notice” clearly stated that the on-grid tariff for all coal-fired power generation will be released in an orderly manner from October 15 to promote industrial and commercial users Both enter the market, cancel the sales price of the industrial and commercial catalogs, and use the power grid companies to purchase electricity as an agent for industrial and commercial users who have not directly purchased electricity from the electricity market.
In other words, coal-fired power generation companies and industrial and commercial users that have not previously participated in the market must all enter the market. The 5 southern provinces have taken active actions. According to media reports, the five provinces of Guangdong, Guangxi, Yunnan, Guizhou, and Hainan will realize that all coal-fired electricity will be traded in the electricity market starting from November, and market-based electricity prices will fluctuate up and down. China Southern Power Grid is promoting all industrial and commercial users to enter the electricity market in an orderly manner. For users who have not directly purchased electricity from the electricity market, the grid company will purchase electricity from the electricity market as an agent. From December 1st, the agent power purchase price will be implemented. In addition, from October 19 to 22, the three provinces of Gansu, Shanxi, Jiangxi and Ningxia Hui Autonomous Region successively announced the cancellation of the general industrial and commercial catalog sales price, and orderly promoted all industrial and commercial users to enter the electricity market.
In addition to the above-mentioned over 10 provinces that have responded quickly to the market-oriented reform of electricity prices, some provinces (autonomous regions and municipalities) have postponed the organization of transactions due to unclear implementation measures. For example, on October 14, the Chongqing Electric Power Trading Center issued a notice stating that the current implementation plan is still under study and formulation, and it has decided to postpone the organization of direct electricity trading in November. In addition, in order to ensure the power supply during the peak winter, on October 21, the Beijing Electric Power Trading Center proposed that for the inter-provincial medium and long-term coal-fired power generation contracts that have been signed in the fourth quarter, the original contracting parties can agree on the transaction. The price is adjusted.
Listed companies respond to investor concerns
It is worth noting that electricity price reform has also been pushed into the spotlight of the capital market. As of the press release on October 25, some investors have asked questions about the operation of listed companies in related industries and countermeasures on the interactive platform of the Shanghai and Shenzhen Stock Exchanges, and listed companies have responded positively.
For example, a Guangdong New Energy company replied, “At present, most of the company’s planned electricity prices for nuclear power units are relatively competitive with coal-fired benchmark electricity prices. The company will closely follow the power market reform situation and related policies to give full play to the marginal cost of nuclear power. Low-level advantages, strengthen the construction of power marketing capabilities, adjust power marketing strategies in time, and strive for more power and better power prices.”
Another Jiangxi New Energy Company Said, “The company is now carrying out contract changes, renewals, and supplementary contracts with power distribution customers in accordance with relevant local requirements. The power price reform is conducive to further straightening out the relationship between’coal power’ and is a reform of the power market. Significant move.”
There is also a Shanxi New Energy listed company. In the first half of 2021, the company’s electricity and coal business accounted for 46.90% and 32.46, respectively. %. The company will make every effort to prepare for winter power operation and heating supply: first, to ensure the stable operation of heating units; second, to actively ensure the use of coal for power plants through the fourth quarter of the long-term coal increase and expansion of coal procurement channels; third, to coordinate with the thermal power company , And strive to collect heat charges in advance. After actively coordinating with the territorial government, the relevant local governments have approved the heat charge increase.
Experts: The supply and demand side should implement comprehensive policies
“The market-oriented reform of electricity prices is the core content of the reform of the price mechanism and the reform of the energy system and mechanism. Under the background of the “double carbon” goal, the dual control of energy consumption and other issues have made electricity price reform more necessary and urgent.” Wu Qi, executive director of the Wuxi Institute of Digital Economy, told the “Securities Daily” reporter. A large number of pilots and preparations have been made for the measures, and the foundation and conditions for rapid development have been established. In the future, it is necessary to create a fair and orderly market competition environment, extensively attract the participation of various market players, and promote the overall efficiency of the market.
Liu Xiangdong, deputy director of the Economic Research Department of the China Center for International Economic Exchange, told the Securities Daily reporter that the coal-fired electricity price reform triggered by the mismatch between coal and electricity supply and demand has strongly promoted The market-oriented reform process of electricity, and the smooth transmission of upstream and downstream prices through market-based mechanisms will facilitate the healthy and orderly development of all links in the industrial chain. It will not only promote the return of coal power prices to a reasonable range, but also use market-based methods to effectively regulate power supply and demand. , So as to ensure the safe and stable supply of energy and the warmth of the people through the winter.
Wu Qi believes that the establishment of a market-oriented electricity price formation mechanism can better reflect the power supply and demand situation and cost changes, and ease the dilemma of high cost of thermal power companies; For the enterprise, Which is conducive to guiding industrial and commercial enterprises to use electricity rationally and greenly. While improving power supply and demand and guaranteeing safe supply, it also helps to achieve the goal of “dual carbon”.
Tianfeng Futures Research Institute coal researcher Kang Jian told a reporter from the Securities Daily that the electricity price reform will increase the limit to 20% and the price of electricity for high energy-consuming industries The rise is unlimited. Converting the previous method of adjusting excessively high electricity load through power restriction to adjusting through price means will help enterprises to arrange their own production plans according to the cost of electricity. For high energy-consuming enterprises, it is necessary to reconsider their production costs, improve production processes, increase energy efficiency, and implement the country’s policy of transforming the extensive to intensive economic development model, and increase the added value and pricing power of products.
For the next step to ensure the stable development of the power supply market, Liu Xiangdong said that in the short term, the coordination between the supply and demand of coal power should be strengthened to effectively alleviate the peak winter power demand. The focus is on “Work hard” to ensure supply; in the medium and long term, we must further promote the market-oriented reform of the entire coal power industry chain, improve the market-determining mechanism for electricity prices, and promote the fluctuation of coal and electricity prices around the fundamentals of supply and demand; at the same time, strengthen the supervision of the coal power market , Maintain the normal market order of coal power, and ensure the coal demand for the power generation industry and people’s livelihoods.
In Wu Qi’s view, it is necessary to comprehensively implement policies from both sides of supply and demand. On the supply side, it is necessary to further optimize the design of the mechanism, improve the supporting rules, and encourage coal enterprises to further release their production capacity. Increase the power supply of power generation enterprises; on the demand side, encourage and support the improvement of power consumption efficiency and advocate rational use of electricity.