The Zhitong Finance App learned that electricity stocks generally rose. As of press release, Datang Power (00991) rose 4.35% to HK$1.68; China Electric Power (02380) rose 3.43% to HK$3.62; Huaneng International (00902) rose 1.75% to HK$5.22; and China Resources Power (00836) rose 1.63% to HK$21.8.
According to the news, on May 17, the National Energy Administration released data such as the electricity consumption of the whole society for April. In April, the electricity consumption of the entire society was 741.2 billion kilowatt-hours, an increase of 7.0% over the previous year. From January to April, the total electricity consumption of the entire society was 3077.2 billion kilowatt-hours, an increase of 9.0% over the previous year. According to Huayuan Securities, on a month-on-month basis, the monthly growth rate in April declined slightly from January-March, but it was mainly due to a high base. The two-year average compound growth rate increased month-on-month, once again confirming the strong momentum of electricity demand in the whole society.
Furthermore, a new version of the “Basic Rules for the Operation of the Electricity Market” was released and will come into effect on July 1, 2024. According to the new regulations, the types of electricity market transactions include electricity energy transactions, power ancillary service transactions, capacity transactions, etc. According to Cinda Securities, in a situation where electricity supply and demand are tense, the peak value of coal and electricity is prominent; as the market-based reform of electricity continues to advance, the electricity price trend is expected to rise steadily and slightly, the electricity spot market and auxiliary service market mechanisms are expected to continue to be promoted, and the capacity electricity price mechanism is officially introduced, clarifying the cornerstone position of coal and electricity.