In the first half of this year, the power generation efficiency of power companies fell to a new low in the past three

The data on the profitability of power companies this year reflect the various data on the profitability of the power industry in the first half of the year. In general, although the profitability of coal prices and interest rate cuts affected, the profitability of electric power companies this year is still worrying. First, it is affected by the sharp decline in the growth rate of power generation. Second, the growth of electric power investment has slowed down, especially in the continued increase in thermal power generation. cut back.

According to the electricity supply and demand statistics report recently announced by CEC, thermal power generation has continued to grow negatively since April, and thermal power equipment utilization hours have gradually decreased. The power investment completed low-speed growth, power investment decreased year-on-year, and thermal power investment continued to shrink. The overall balance of power coal supply is still difficult for thermal power companies to operate.

According to statistics, the cumulative average utilization hours of power generation equipment in the first half of the year was 2,234 hours, a decrease of 95 hours compared with the same period of the previous year. Among them, hydropower equipment utilization hours were 1,455 hours, an increase of 47 hours over the same period of the previous year; thermal equipment utilization hours were 2,489 hours, a decrease of 113 hours compared with the same period of last year, which was the lowest level in the same period in all years except for 2009 during the 11th Five-Year Plan period. .

According to industry insiders, the average utilization hours of power generation equipment is an important indicator to measure the power generation efficiency of thermal power plants. The higher the value, the smaller the fixed cost ratio of unit power generation costs, and the greater the profitability. "Under the backdrop of increasing operating pressure and narrowing financing space, it is difficult to fundamentally improve the profitability of the thermal power industry in the short term. The future direction of investment in the power industry will shift to the clean power sector and upstream coal resources," said a bond credit assessment company. think.