For China's power companies, this cold winter is not too good. A few days ago, some sources quoted power system stakeholders as saying that "the five major power groups have not expected the profit margin of the thermal power sector in 2011 after experiencing a round of thermal power losses, and have invested more in other business sectors. Encourage to enhance the profitability of the entire group and make up for the downturn in the thermal power sector."
Coal enterprise VS limit order
Since November this year, the relevant state departments have repeatedly asked coal companies to maintain price stability. On December 1, Cao Changqing, Director of the Price Department of the National Development and Reform Commission, said that coal enterprises should strictly implement price self-discipline in accordance with the requirements of the State Council and the National Development and Reform Commission. "In 2011, the price of key contracted coal should remain unchanged in 2010. It is not possible to increase the price in any form. Coal production and distribution enterprises must not artificially interfere with and speculate on coal prices, consciously do not raise prices, do not raise prices, and keep market coal prices basically stable."
Subsequently, the National Development and Reform Commission issued a document to further clarify the "stability of coal prices." Local governments such as Shanxi Province also stressed that when signing the 2011 coal purchase and sales contract, “resolutely do not increase the price of key thermal coal contracts, and put an end to any form of disguised price increasesâ€.
However, coal companies do not seem to be buying a price limit order. According to the requirements of the National Development and Reform Commission, the total amount of coal coal in China's coal contract will be 769 million tons in 2011, and will be completed by December 31 at the latest; however, according to media statistics. As of 12:00 on December 23, the coal contract for the nation's coal production and transportation needs to be aggregated to 199.8 million tons next year, which is quite different from the planned target.
"Obviously, both sides have anger." Yesterday, Lin Boqiang, director of the China Energy Economic Research Center of Xiamen University, said that on the one hand, it is an indisputable fact that for the power companies, the loss is constantly expanding; on the other hand, the market has been implemented before. For the coal enterprises of coal, in the case that the administrative order has to be executed, the relatively low price compared with the market coal will naturally dampen its enthusiasm in coal connection.
An industry analyst who did not want to be named told the International Finance News reporter that "administrative orders do have their drawbacks, but this is also a problem in the current situation. Because power companies and coal enterprises are central enterprises, It is impossible for the relevant departments to sit on one side and continue to lose money. It is also expected that after the delay of the total of 769 million tons, it is likely that most of the supply will be realized."
It is worth noting that some experts told the media that the NDRC's price limit order has no absolute coercive significance. "Suppressing coal prices is to contribute to alleviating inflation."
At the same time, the information on the urgently charged coal stocks has frequently entered people's field of vision. As a major coal-producing province in Henan, about 40% of the thermal power installed units have less than three days of coal. Some areas have even been forced to limit electricity to respond to inventory urgency - Hubei Province in the case of thermal coal stocks for 7 consecutive days below the warning line, from December 22, the power cut. Provinces such as Shaanxi, Shanxi, Chongqing and Guizhou have encountered similar situations.
Coal-electricity linkage is the first
"It has to be said that the deep-seated system problems have not been really touched. This is an important reason for the dilemma of this year's power companies." The above analysts admitted that "it is time to change. That is, where possible." It is still necessary to make electricity prices form a 'market electricity'. In fact, electricity price reform has always been a topic of concern to all sectors. Beginning in 2002, relevant state departments issued relevant documents to promote reform.
"It has been called for many years, but it has not been able to make a real trip. It is unlikely that it will take a short time to make a trip. The biggest obstacle is probably that the relevant state departments believe that after raising the price, the relevant aspects are The impact is difficult to control." Lin Boqiang believes that "it is better to consider coal-electricity linkages first."
Lin Boqiang said, "After the coal-electricity linkage, the price of electricity has risen only a few cents, and the increase is not large. And as far as the current situation is concerned, it is almost impossible to drive a sharp rise in CPI. At the same time, most residents can also bear the relevant increase. It is also possible to consider adopting a method of collecting special income from coal. When the coal price reaches a certain level, the relevant state departments charge a certain fee to curb the rising price."
The good news for future power companies is that the China Electricity Council (CEC) has issued the "12th Five-Year Plan for Power Industry Research Report", in which non-fossil energy (including nuclear power, hydropower, wind power, etc.) power generation installed capacity. The total scale will reach 474 million kilowatts, accounting for 33% of the total installed capacity, an increase of 6.3% over 2010. It is reported that the "Report" has been formally reported to the National Development and Reform Commission, the State Electricity Regulatory Commission and the National Energy Administration.
Net importer of coal
It is worth noting that as a world-recognized coal-producing country, after 2009, China became the net importer of coal for the second time this year. Statistics from relevant departments show that in the first 11 months of this year, China's accumulated net import of coal was 130 million tons, a figure that exceeded the net import volume of 103 million tons last year.
In this regard, the above analysts believe that this also includes the factors of coal-fired top cattle. "Because of rising price pressures, in the past two years, many power companies have increasingly relied on the supply of imported coal. Of course, This is also the embodiment of increased domestic demand."
CIC consultants believe that from the current international coal market (international coal prices have exceeded the $110 mark, reaching a new high since 2008), "the sharp increase in international coal prices on the one hand inhibited China's demand for imported coal On the other hand, it has caused some pressure on China's coal price."
However, the “2010-2015 China Coal Industry Investment Analysis and Forecast Report†issued by China Investment Advisors pointed out that “in the next few years, China’s coal imports will continue to grow in general.â€
related news
Daqin Railway transports 400 million tons of coal annually
As of December 26, Daqin Railway had completed the target of 400 million tons of annual transportation capacity, which was four times the original design capacity.
Shanxi two major groups produce more than 100 million tons of coal
As of the early morning of December 26, the coal production of Tongmei Group exceeded 100 million tons. As of 18:00 on December 25, Shanxi Coking Coal Group's coal production reached 102.9 billion tons. So far, two large coal enterprise groups with a production capacity of over 100 million tons have appeared in the coal province of Shanxi.
Coal enterprise VS limit order
Since November this year, the relevant state departments have repeatedly asked coal companies to maintain price stability. On December 1, Cao Changqing, Director of the Price Department of the National Development and Reform Commission, said that coal enterprises should strictly implement price self-discipline in accordance with the requirements of the State Council and the National Development and Reform Commission. "In 2011, the price of key contracted coal should remain unchanged in 2010. It is not possible to increase the price in any form. Coal production and distribution enterprises must not artificially interfere with and speculate on coal prices, consciously do not raise prices, do not raise prices, and keep market coal prices basically stable."
Subsequently, the National Development and Reform Commission issued a document to further clarify the "stability of coal prices." Local governments such as Shanxi Province also stressed that when signing the 2011 coal purchase and sales contract, “resolutely do not increase the price of key thermal coal contracts, and put an end to any form of disguised price increasesâ€.
However, coal companies do not seem to be buying a price limit order. According to the requirements of the National Development and Reform Commission, the total amount of coal coal in China's coal contract will be 769 million tons in 2011, and will be completed by December 31 at the latest; however, according to media statistics. As of 12:00 on December 23, the coal contract for the nation's coal production and transportation needs to be aggregated to 199.8 million tons next year, which is quite different from the planned target.
"Obviously, both sides have anger." Yesterday, Lin Boqiang, director of the China Energy Economic Research Center of Xiamen University, said that on the one hand, it is an indisputable fact that for the power companies, the loss is constantly expanding; on the other hand, the market has been implemented before. For the coal enterprises of coal, in the case that the administrative order has to be executed, the relatively low price compared with the market coal will naturally dampen its enthusiasm in coal connection.
An industry analyst who did not want to be named told the International Finance News reporter that "administrative orders do have their drawbacks, but this is also a problem in the current situation. Because power companies and coal enterprises are central enterprises, It is impossible for the relevant departments to sit on one side and continue to lose money. It is also expected that after the delay of the total of 769 million tons, it is likely that most of the supply will be realized."
It is worth noting that some experts told the media that the NDRC's price limit order has no absolute coercive significance. "Suppressing coal prices is to contribute to alleviating inflation."
At the same time, the information on the urgently charged coal stocks has frequently entered people's field of vision. As a major coal-producing province in Henan, about 40% of the thermal power installed units have less than three days of coal. Some areas have even been forced to limit electricity to respond to inventory urgency - Hubei Province in the case of thermal coal stocks for 7 consecutive days below the warning line, from December 22, the power cut. Provinces such as Shaanxi, Shanxi, Chongqing and Guizhou have encountered similar situations.
Coal-electricity linkage is the first
"It has to be said that the deep-seated system problems have not been really touched. This is an important reason for the dilemma of this year's power companies." The above analysts admitted that "it is time to change. That is, where possible." It is still necessary to make electricity prices form a 'market electricity'. In fact, electricity price reform has always been a topic of concern to all sectors. Beginning in 2002, relevant state departments issued relevant documents to promote reform.
"It has been called for many years, but it has not been able to make a real trip. It is unlikely that it will take a short time to make a trip. The biggest obstacle is probably that the relevant state departments believe that after raising the price, the relevant aspects are The impact is difficult to control." Lin Boqiang believes that "it is better to consider coal-electricity linkages first."
Lin Boqiang said, "After the coal-electricity linkage, the price of electricity has risen only a few cents, and the increase is not large. And as far as the current situation is concerned, it is almost impossible to drive a sharp rise in CPI. At the same time, most residents can also bear the relevant increase. It is also possible to consider adopting a method of collecting special income from coal. When the coal price reaches a certain level, the relevant state departments charge a certain fee to curb the rising price."
The good news for future power companies is that the China Electricity Council (CEC) has issued the "12th Five-Year Plan for Power Industry Research Report", in which non-fossil energy (including nuclear power, hydropower, wind power, etc.) power generation installed capacity. The total scale will reach 474 million kilowatts, accounting for 33% of the total installed capacity, an increase of 6.3% over 2010. It is reported that the "Report" has been formally reported to the National Development and Reform Commission, the State Electricity Regulatory Commission and the National Energy Administration.
Net importer of coal
It is worth noting that as a world-recognized coal-producing country, after 2009, China became the net importer of coal for the second time this year. Statistics from relevant departments show that in the first 11 months of this year, China's accumulated net import of coal was 130 million tons, a figure that exceeded the net import volume of 103 million tons last year.
In this regard, the above analysts believe that this also includes the factors of coal-fired top cattle. "Because of rising price pressures, in the past two years, many power companies have increasingly relied on the supply of imported coal. Of course, This is also the embodiment of increased domestic demand."
CIC consultants believe that from the current international coal market (international coal prices have exceeded the $110 mark, reaching a new high since 2008), "the sharp increase in international coal prices on the one hand inhibited China's demand for imported coal On the other hand, it has caused some pressure on China's coal price."
However, the “2010-2015 China Coal Industry Investment Analysis and Forecast Report†issued by China Investment Advisors pointed out that “in the next few years, China’s coal imports will continue to grow in general.â€
related news
Daqin Railway transports 400 million tons of coal annually
As of December 26, Daqin Railway had completed the target of 400 million tons of annual transportation capacity, which was four times the original design capacity.
Shanxi two major groups produce more than 100 million tons of coal
As of the early morning of December 26, the coal production of Tongmei Group exceeded 100 million tons. As of 18:00 on December 25, Shanxi Coking Coal Group's coal production reached 102.9 billion tons. So far, two large coal enterprise groups with a production capacity of over 100 million tons have appeared in the coal province of Shanxi.
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