中金：消纳政策密集出台，“负荷为王”时代开启

Core Viewpoint - The report indicates that the pressure from power restrictions is re-emerging, leading to a shift in competition within the renewable energy sector towards user acquisition, making quality load a scarce resource [1] Group 1: Policy and Market Dynamics - Policies are guiding both local consumption and external consumption of green electricity, indicating a dual approach to energy management [1] - The "green electricity direct connection" initiative disrupts the traditional grid-dominated model, alleviating grid adjustment pressures and meeting the green energy needs of export-oriented enterprises [1] - This initiative lays the groundwork for stabilizing medium to long-term electricity prices and transitioning towards forward Power Purchase Agreements (PPAs) [1] Group 2: Industry Focus - The policies are targeting industrial sectors with significant carbon reduction potential, mandating high-energy-consuming industries to take on the responsibility of mandatory green electricity consumption [1] - There is an encouragement for the establishment of zero-carbon park pilots and voluntary green electricity consumption [1]