10 provinces of thermal power companies are fully loss-making CLP: some power plants have no money to buy coal
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In an interview with the Economic Information Daily, industry experts said that the price mechanism of “market coal, planned electricity†and the management system of “electricity for central enterprises and coal return to locality†are the root causes of the intensification of coal-electricity conflicts and losses of thermal power enterprises. . Therefore, from the national level, it is necessary to increase the price mechanism and management system reform; from the enterprise level, power companies must further strengthen structural adjustment, develop clean energy power generation, and accelerate the pace of coal-electricity integration, taking a self-defense the road.
Dilemma
10 provinces, thermal power companies all lost
According to the "Report" of the China Electricity Council, the overall efficiency of the power industry has increased this year, but the operation of thermal power companies has become more difficult. From January to August, affected by the hike effect of the increase in sales price at the end of last year, the total profit of the power industry was 97.2 billion yuan, a year-on-year increase of 108.5%, but the profit of thermal power enterprises fell from 26.8 billion yuan in the same period of last year to 22 billion yuan. After the central six provinces and the Shandong province thermal power companies continued to lose money, the thermal power enterprises in the three northeastern provinces also began to join the overall loss.
“As the sustained losses have intensified, the solvency of power generation companies has been significantly weakened, the difficulty of financing has increased, and the risk of capital chain breakage has increased significantly.†The Report issued a warning on the current supply and demand situation in some areas. “There is now a near heating period in the north. The power plants began to store coal in the winter, but because of the serious losses, some power plants have no money to buy coal, which may create the risk of not guaranteeing electricity and heat supply."
Xue Jing, director of the statistics department of China Electricity and Electricity Association, said in a telephone interview with the reporter of the Economic Information Daily that the main reason for the serious losses of thermal power companies was that the price of coal was rising too fast. She said that with the high price of electricity and coal in the national market, this year's market coal price rose more than 100 yuan / ton over the same period of last year. The average price of the five major power groups to the factory standard coal rose by more than 15%, and the operating pressure is huge.
“Especially in the central coal-producing provinces of Henan, Shanxi, Anhui, etc., thermal power companies have a particularly serious loss.†Xue Jing said, “The main reason for this is that the price of coal is too high, and the other is due to The on-grid electricity price of Hangkou Power Plant is low. Due to the two-way squeeze, the production and operation of power companies are in trouble."
According to the relevant person in charge of China Power Investment Corporation, the thermal power units with a loss of more than 300,000 kilowatts were more serious in the past, and in some places, even 600,000 kilowatts of thermal power units began to suffer losses.
Information from the securities market confirms the current situation of thermal power companies' losses. The first three quarters of the listed company's performance report released recently showed that listed companies of thermal power have ranked first in the loss list of listed companies. For example, Huayin Power, Zhangze Power, Huadian International, Shennandian, and ST Yueneng are among the top 20 loss-making enterprises, of which the top three are ranked first, third and fourth. When analyzing the causes of losses, companies unanimously put "stock price rise" at the top of the list.
For example, Zhangze Power’s third-quarter earnings report shows that from January to September this year, it is estimated that the accumulated loss will be 380 million yuan to 400 million yuan. The company said that the main reason for the loss of the company is that “the coal price remains at a high level, and the power generation continues to grow. Uncertainty." Baoxin Energy's third-quarter earnings report showed that the company's net profit fell by 53% compared with the same period of last year; while Huitian Thermal Power's net profit in the first three quarters fell by 76% compared with the same period of last year.
the reason
Price mechanism and management system contradictions
The industry analysts believe that the current electricity price formation mechanism is an important reason for the loss of thermal power companies. The China Electricity Council's "Report" more clearly attributed the loss of thermal power companies to the price mechanism of "market coal, planned electricity".
It is understood that in order to resolve the contradiction between coal and electricity, the National Development and Reform Commission issued a coal-electricity price linkage mechanism in 2004. A research report on coal price mechanism made by State Grid Energy Research Institute showed that in May 2005 and June 2006, the National Development and Reform Commission implemented coal-electricity linkage twice, and the cumulative sales price increased by 5.02 per kWh. In 2008, the National Development and Reform Commission adjusted the on-grid price of power generation enterprises twice on July 1 and August 21 of the same year.
"The coal-electricity price linkage mechanism has also played an important role in maintaining the normal production and operation of power generation enterprises. However, due to the fact that the coal-fired price linkage is not in place, the increase in coal prices has been higher than the increase in the on-grid tariffs, which has caused the losses of power generation companies to intensify. Li Chengren, deputy director of the Accounting and Auditing Institute of the State Grid Energy Research Institute, said that for example, the price of coal in coal continued to rise in 2007, and the increase exceeded the 5% of the coal-fired price linkage mechanism, but considering the price of C PI, etc. A number of factors, the price of electricity has not been raised accordingly. The current fuel cost has accounted for 70% of the total cost of power generation enterprises in China.
Talking about the problem that coal price linkage is not in place, Xue Jing told the Economic Information Daily that since 2003, China's coal prices have continued to rise. Taking Qinhuangdao 5500 kcal coal as an example, the cumulative increase has exceeded 150%, while the sales price has increased by only 32%. Power companies have been unable to withstand the frequent increase in coal prices and the increase in rigid costs caused by the lag in electricity price adjustments. The thermal power industry has suffered serious losses.
"The restriction on the management system is also an important reason for the intensification of the contradiction between coal and electricity and the loss of thermal power enterprises." Lu Qizhou, general manager of China Power Investment Corporation, said in an interview with the Economic Information Daily that China Power Generation Group is a central enterprise. Coal companies are mostly local management. The low electricity price is “low†to the central government, and the high coal price is “high†to the local government. Therefore, some major coal provinces are quietly adopting the policy of “raising coal prices and lowering electricity pricesâ€. This is why the more serious losses are caused by the loss of thermal power companies in coal-producing provinces such as Shanxi, Henan and Anhui.
In addition, the high cost of coal transportation is also considered to be a major factor in the loss of thermal power companies. Li Chengren told reporters that for a long time, due to the railway transportation capacity and other reasons, both coal and electricity have to bear the "grey cost" outside the national approved railway freight rate. According to statistics, the transportation of coal from Shanxi to Qinhuangdao is less than 1,000 kilometers. According to the normal freight rate, it should be around RMB 100/ton. Actually, the coal mining price in Shanxi is about 500 yuan/ton. When it reaches Qinhuangdao, it will be more than 700 yuan/ton. The circulation link costs up to 200 yuan / ton.
The China Electricity Council's "Report" issued an appeal to implement the coal-electricity linkage policy as soon as possible and accelerate the reform of the electricity price mechanism. The "Report" suggests that in the process of forming a reasonable electricity price mechanism, we will continue to adhere to the principles and mechanisms of coal-electricity linkage; at the same time, accelerate the pace of reform of the price mechanism of resource products, and study the formation of scientific and reasonable electricity prices that conform to market rules and adapt to China's national conditions. mechanism.
Way out
Do more measures to resolve the dilemma
Zhou Dadi, deputy director of the National Energy Experts Advisory Committee and vice chairman of the China Energy Research Association, said in an interview with the Economic Information Daily that the key to solving the losses of the power generation group, especially the thermal power companies, is to speed up the reform of the electricity price mechanism and fundamentally solve the problem. At the enterprise level, power generation companies should also accelerate the pace of structural adjustment, develop clean energy such as hydropower, wind power, nuclear power, etc., and promote the integration of coal and electricity, and actively take the initiative to find a self. The road to trouble.
"China's electricity price mechanism reform is quietly unfolding." Shu Yinbiao, deputy general manager of the State Grid Corporation, said in a keynote speech at the Beijing 2010 Energy, Economy and Development Forum held on October 30 that the National Development and Reform Commission recently launched the "step price plan." "The reform of the electricity price mechanism has been opened, but what is confusing is that many people have voiced criticism and even opposition.
Shu Yinxuan said that the ladder price reform plan sets the average household electricity consumption 110 degrees as the first gear, that is, the basic electricity price; 110 degrees to 210 degrees is the second gear, and each kilowatt hour increases the price by 5 cents. If the average household electricity consumption per household exceeds the basic electricity consumption by 30 degrees per month, and the monthly electricity expenditure is 1.5 yuan, many people have opinions on this. "Our reforms must be understood and supported by the people. The cost of speaking two words on mobile phones and friends may exceed 1.5 yuan. Why can't we support the reform of electricity prices?"
From the enterprise level, in recent years, under the impetus of the national energy conservation and emission reduction policies, and under the “forced by the current price mechanismâ€, the adjustment structure of China's power companies, led by the five major power generation groups, has been increasing. On the one hand, a large number of small thermal power units with high energy consumption and high pollution were shut down. According to the data released by the National Energy Administration, during the “Eleventh Five-Year Plan†period, the country has shut down a small thermal power unit of 70.77 million kilowatts, exceeding the target of shutting down 50 million kilowatts, and saving 81 million tons of raw coal per year.
On the other hand, clean energy generation such as hydropower, wind power and nuclear power has grown rapidly. According to the "Report" of the China Electricity Council, as of the end of September this year, the proportion of hydropower and wind power in the country increased by 0.51 and 1 percentage point respectively over the same period of the previous year; the proportion of thermal power decreased by 1.51 percentage points. In the first three quarters of this year, the total investment in hydropower, nuclear power and wind power in the country increased by 6.23%, 15.48% and 54.94% respectively, and the total investment in hydropower, nuclear power and wind power reached 61.96%, which was higher than the same period of the previous year. 4.03 percentage points, reflecting that investment in clean energy continues to increase.
At the same time, in order to get rid of the dilemma of difficulties, many power generation groups actively seek to break through the “upstream†and explore the road of coal-electricity integration. Among them, the most successful and most representative of the exploration is the China Power Investment Corporation. At the beginning of the separation of the factory network at the end of 2002, China Power Investment Corporation was a veritable “little brother†from asset quality to corporate efficiency. However, in the first half of 2010, data from the SASAC website showed that China Power Investment Corporation became the top ranked “big brotherâ€. . Analysis of the reasons for the growth and development of the company, Lu Qizhou said: "In the past few years, we have developed a new path of "electricity as the core, coal as the foundation, and industrial integration and coordinated development."
However, Lu Qizhou also believes that promoting mergers and acquisitions and realizing coal-electricity integration operations is actually a non-market-oriented "helpless move." He said that under the perfect market economy system, the specialization cost is the lowest, coal enterprises are good at digging coal, and power generation enterprises are engaged in power generation. According to the reason, they should not penetrate each other. However, under the current energy management system and price formation mechanism in China, power generation enterprises are trapped in electricity prices and have to seek joint ventures in the upstream coal and transportation sectors to expand their living space stations.