中信证券：消纳责任权重大幅提升，为绿电消纳保驾护航

Core Viewpoint - The report from CITIC Securities indicates a significant increase in the responsibility weight for non-hydropower renewable energy consumption by 2025, which is expected to support approximately 460 billion kilowatt-hours of green electricity consumption this year [1] Group 1: Renewable Energy Consumption - The increase in responsibility weight for green electricity consumption is expected to provide strong support for green electricity consumption in the current year [1] - The growth in responsibility weight is notably uneven, particularly in the Sanbei region, where the increase may stagnate, potentially affecting the pricing settlement mechanism for electricity [1] - This stagnation could lead to a slowdown in local installed capacity growth and a return to rational investment in the industry [1] Group 2: High Energy Consumption Industries - Following the inclusion of electrolytic aluminum, industries such as steel, cement, and polysilicon are now subject to green electricity consumption ratio assessments, which may further ensure green electricity consumption and promote the development of the green electricity and green certificate market [1] Group 3: Coastal Areas and Carbon Reduction - The coastal areas are expected to benefit from significant incremental consumption space and an increasing demand for carbon reduction from users, which may lead to rapid development of the direct connection model for green electricity [1]