Industry insiders said that while coal prices are still at a low level, the reduction in feed-in tariffs will reduce the profit margin of electricity companies.
The national on-grid tariff has been lowered. Except for Yunnan and Sichuan provinces, 29 provinces and municipalities have lowered their on-grid tariffs by an average of 1.4 cents/kWh.
The on-grid tariff has just been lowered. In the first half of this year, the electricity companies that have earned a lot of money are screaming. However, the power company's shouting was questioned by the market. Many analysts interviewed by the reporter said that after the tariff cuts, the power companies must retreat some profits. However, from the perspective of 2013 alone, the loss of profits due to the reduction in electricity prices is comparable to its total profit, which can be said to be drizzy and has limited impact.
Electric enterprise shouted
According to the notice of the National Development and Reform Commission, in addition to the adjustments made by Yunnan Province and Sichuan Province in 31 provincial power grids, the other 29 provinces and cities have lowered their on-grid tariffs, with Shanghai, Jiangsu and Zhejiang provinces having the largest declines. 2.5 points, Heilongjiang has the smallest drop, 0.6 points per kWh, and 29 provinces and cities have an average drop of 1.4 points per kWh.
The on-grid tariff has just been lowered, and there is a voice in the market that the power companies are screaming. The data shows that the thermal power generation in 2012 was 3.8137.51 billion kWh, which was calculated according to the average on-grid tariff of 1.4 points/degree. The total profit impact on the whole industry was about 53.4 billion yuan.
It is worth noting that on August 30, the notice issued by the National Development and Reform Commission on adjusting the additional standards for renewable energy tariffs and environmental protection electricity prices said that since September 25 this year, in addition to residential and agricultural production electricity, The additional standard for renewable energy tariffs has increased from 0.8 points per kWh to 1.5 points per kWh; the compensation standard for denitrification power prices of coal-fired power generation enterprises has increased from 0.8 points per kWh to 1 point per kWh; the emission concentration of soot is less than 30 mg. / cubic meters of coal-fired power generation enterprises to implement electricity price compensation of 0.2 cents per kWh.
The National Development and Reform Commission emphasized that, while maintaining the current level of total sales price, the electricity price space vacated by the decline in the price of coal was mainly used to solve the funding sources of the above-mentioned electricity price adjustment.
Wu Fei, an analyst at CITIC Securities, said that from the perspective of electricity price setting mechanism, the renewable energy price attached to subsidize the development of new energy and the denitrification price and dust removal price of coal-fired power plants used for environmental protection should be levied in the sales price, that is, consumption. Additional fees should be paid for the use of clean energy.
"In view of the current weak economic situation and the fact that coal prices have fallen sharply, the management has turned the transmission price of the electricity price that should have been raised to the coal-fired power plant," he said.
In addition, the environmental protection price for denitrification and dedusting of coal-fired units was increased by 0.4 cents, which was calculated based on last year's power generation, totaling 15.2 billion yuan. This part was established to promote the establishment of environmental protection standards for thermal power enterprises. The power plant desulfurization and dust removal of thermal power plants meet the standard, and this part of the funds will eventually be returned to the coal-fired power plants through compensation.
According to Dongguan Securities, in 2012, the total revenue of 26 thermal power plants reached 535.1 billion yuan, with a profit of 99.4 billion yuan, and the net profit attributable to the parent company was about 26 billion yuan. According to the 2012 data, it is estimated that the total revenue and gross profit of thermal power enterprises in 2013 will reach 550 billion yuan and 160 billion yuan respectively.
In this regard, some power industry analysts said that from 2013 alone, the loss of profits caused by the reduction in on-grid tariffs compared with the total profit can be said to be drizzling.
Rao Zhi, an analyst at Dongguan Securities, believes that the downward adjustment of the on-grid tariff has limited impact on thermal power companies. According to the 2013 data forecast, the downward adjustment of electricity prices will reduce the thermal power industry's revenue in 2014 by about 5%, and the net profit will fall by about 18%.
Some insiders also said that the electric power company’s loss is actually a dissatisfaction with the partial reduction of the on-grid tariff. In the state that coal prices are still at a low level, electricity companies are only shrinking their profit margins and will not lose money.
Electricity price reduction has limited impact
Judging from the performance of the two listed companies that have announced the announcement, the impact of the reduction in on-grid tariffs on power companies is limited.
According to the company, the company's power plant will cut the on-grid price by 0.01 yuan / kWh. The company initially estimates that the electricity price adjustment is expected to reduce the company's operating income in 2013 by about 12 million yuan, while the company achieved operating income of 1.206 billion yuan in the first half of the year.
According to the announcement of the on-grid price adjustment of coal-fired units issued by SDIC, since September 25, 2013, the electricity prices of the provinces where the company's coal-fired units are located have been lowered to varying degrees.
"The downward adjustment of electricity prices has limited impact on the company's earnings." Cheng Peng, an analyst at Huatai Securities, said that according to the calculation of the installed capacity of coal-fired units in the provinces, the on-grid price of coal-fired units of the company was reduced by an average of 1.5 points/kWh. At present, most of the company's units meet the emission requirements of dust removal subsidies, and the installation rate of denitrification equipment is 54%. It is expected that denitration and dust removal will be completed in the first half of 2014.
“Since the on-grid tariffs have been lowered, SDIC’s thermal power profit fell by 8% in 2013,†he said. In fact, from the specific situation of SDIC power, its impact on the reduction of on-grid tariffs is really small.
Cheng Peng also said that due to the high contribution of the company's hydropower profit, the reduction of coal price of coal-fired units has limited impact on the company's earnings, and with the gradual commissioning of downstream units of the Yalong River, the company's installed capacity of coal-fired thermal power will account for 2013. From the middle of the year, 56.9% fell to 43.7% in 2015, and the impact of the price cut was gradually reduced.
LED Panel Light
The LED Panel light we provide is smd led panel light, which include DMX LED Panel, LED Dance Floor, and widely use in stage background, lighting back ground, led ceiling lights, wedding, led video panel display, club decoration and so on. The LED panel series can divid into 150*150mm, 250*250mm, 300*300mm and 600*600mm dmx led panel on dimension. 500*500mm and 1000*1000mm led portable dance floor are availble. DMX addresses can be set automatcially and manully, pixels and size can be customized. The led panel can do rgb panel, warm white led panel light and led pixel panel.
Led Panel Light,Video Led Panel,Led Video Wall,9W Panel Led Light
Shenzhen Iseeled Technology Co., Ltd. , https://www.iseeledlight.com