Macro

Electricity price reform is advanced, and new investment is trillions of yuan

Seetao 2021.09.17
  • The construction of a new power system will further promote China to achieve its dual carbon goals

Recently, the National Development and Reform Commission issued an opinion to promote and implement the accelerated improvement of the pumped-storage price mechanism. It proposes to form electricity price in a competitive manner, give full play to the role of the electricity price signal, mobilize the polarity of all areas, and accelerate the development of pumped-storage power plants and give full play to the comprehensive Benefits create more favorable conditions. On the morning of September 16, the National Development and Reform Commission held a September press conference to introduce the macroeconomic situation. Peng Shaozong, deputy director of the Price Department of the National Development and Reform Commission and a first-level inspector, said at the meeting that since May, the National Development and Reform Commission has intensively introduced pumped storage, new energy parity, and peak-to-valley distribution to achieve the "dual-carbon" goal. Four major reform measures, including the current electricity price mechanism and the more stringent step-by-step electricity price system for the electrolytic aluminum industry, have released strong price signals. In the next few years, it is expected to drive up and downstream industries to increase social investment of several trillion yuan.

The reporter noted that pumped storage, new energy, electrolytic aluminum and other industries are also hot sectors of A-shares in 2021, and related stocks have increased significantly.

At present, the National Development and Reform Commission is accelerating the research and improvement of the green electricity price system, improving the nuclear power price formation mechanism, and deepening the reform of the catalog sales electricity price. It will step up the improvement of policies and promote the implementation, further exert the electricity price signal and leverage, and optimize the allocation of electricity resources. Green and low-carbon transformation and development.

In addition, Chang Tiewei, deputy director of the Employment Department of the National Development and Reform Commission, said in response to a question from a reporter from the Shanghai Securities News that the current and future consumption situation can be summarized in three sentences: one is the overall steady recovery, and the other is the short-term. Local pressure, the third is long-term stability and improvement. "In the later period, as the epidemic is effectively controlled and consumption promotion policies are further exerted, consumption will continue to maintain a recovery growth."

Four key electricity price reforms are implemented

Peng Shaozong said that since 2021, the National Development and Reform Commission has accelerated the reform of electricity prices, innovated pumped storage pricing mechanisms, introduced new energy parity online policies, optimized peak and valley time-of-use electricity pricing mechanisms, and implemented a more stringent tiered electricity pricing system for the electrolytic aluminum industry.

One is to innovate the price mechanism of pumped storage. It is clear that the electricity price for pumped storage electricity will be established in a competitive manner, the capacity electricity fee will be included in the recovery of the transmission and distribution price, and the connection with the construction and development of the electricity market will be strengthened to release a clear and strong price signal, giving investors a "reassurance" for pumping water Accelerated development of energy storage has injected strong impetus.

The second is to introduce a new energy parity online policy. It is clear that starting from 2021, new wind power and photovoltaic power generation will enter the parity stage, and the implementation of the benchmark price for coal-fired power generation in 2021 can ensure that new projects achieve better returns and will strongly promote the accelerated development of the new energy industry.

The third is to optimize the peak-to-valley time-of-use price mechanism. For places where the peak-to-valley difference of the power system exceeds 40%, it is clear that the ratio of the peak-to-valley power price is not less than 4:1 in principle, and all regions are required to establish a peak power price mechanism, and further increase the peak power price on the basis of the peak power price20 %. This can give full play to the role of electricity price signals, guide power users to cut peaks and fill valleys, promote the consumption of new energy, and promote the development of energy storage in a larger space. It will play a role in ensuring the stable supply of peak power and improving the overall utilization efficiency of the power system. Important role.

The fourth is to implement a more stringent step-by-step electricity price system for the electrolytic aluminum industry. Before 2025, the electrolytic aluminum industry will raise energy efficiency requirements in three steps, implement progressive price increases for companies that fail to meet the requirements, and issue a clear warning to electrolytic aluminum, a high-energy-consuming industry that consumes more than 500 billion kWh of electricity per year. Signals continue to force companies to save energy and increase efficiency and reduce carbon emissions.

Will drive new investment of trillions of yuan

"Accelerating the reform of electricity prices is an important measure to implement the deployment of the Party Central Committee and the State Council on carbon peaking and carbon neutrality. The above-mentioned electricity price reform measures are based on the current and long-term perspective, and accelerate the construction of a new power system with new energy as the main body. It is of great significance to ensure the safe and stable economic operation of the power system." Peng Shaozong said.

These electricity price reform measures will effectively stimulate investment in fields such as pumped storage, wind power photovoltaics, new energy storage construction, and energy-saving technological transformation in the electrolytic aluminum industry.

"In the next few years, it is expected that the new social investment in upstream and downstream industries will be increased by several trillion yuan, and the effect on the smooth operation of the economy will gradually appear." Peng Shaozong said, for example, the new pumped storage price policy will guide the "14th Five-Year Plan". During the period, the newly started construction scale of pumped storage may exceed 100 million kilowatts. Considering the upstream and downstream industries, the scale of new social investment will exceed 1 trillion yuan.

According to reports, the new trans-provincial and trans-regional special project transmission price pricing method has recently completed the public comment procedure and will be introduced soon. "We are also accelerating the research and improvement of the green electricity price system, improving the nuclear power price formation mechanism, and deepening the reform of the catalog sales electricity price. We will step up efforts to improve policies and promote implementation, further exert the power price signal and leverage, optimize the allocation of electricity resources, and serve green and low-carbon electricity. Transformation and development." He said.

The scale of new energy continues to expand, and new requirements are also placed on the utilization of land resources. When conducting land and space planning, relevant national departments must coordinate the development of new energy and pumped storage with the utilization of land resources and environmental protection, better resolve the relationship between development and protection, and help the transformation of energy structure and "dual carbon." Goal achieved. Editor/Xu Shengpeng


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