“碳账单”变收益单 全国碳市场运行四年来市场交易日趋活跃

Market Overview - The national carbon emissions trading market in China has been operational for four years, showing healthy and orderly functioning with significantly enhanced trading activity [1] - Cumulative trading volume has surpassed 670 million tons, with total transaction value exceeding 46.2 billion yuan, indicating continuous market expansion [1] - In 2024, the annual transaction value exceeded 18 billion yuan, marking a nearly 25% year-on-year increase and setting a historical high [1] Price Trends - Carbon emission allowance prices exceeded 100 yuan per ton in November 2024, with recent market prices stabilizing between 70 to 80 yuan per ton, nearly doubling compared to the initial trading period [1] Technological Advancements - The first batch of over 2,000 coal-fired power enterprises participating in the national carbon market has adopted the mindset of "emissions have costs, and reductions have benefits," leading to technological upgrades that enhance efficiency and reduce costs [1] Case Studies - Xiamen Huaxia Power's Songyu Power Plant faced significant emission reduction pressure, purchasing approximately 150,000 tons of carbon allowances last year, which motivated the company to phase out outdated capacity [2] - The plant recently commissioned a state-of-the-art 660,000 kW reheat power generation unit, replacing two 30-year-old units, saving over 90,000 tons of standard coal and reducing CO2 emissions by more than 250,000 tons annually [2] - Huaneng Hubei Power's Xiangyang Power Plant implemented biomass gasification coupled with coal-fired generation, utilizing agricultural waste to generate 59 million kWh annually, replacing 18,000 tons of standard coal and reducing CO2 emissions by approximately 50,000 tons [2] Industry Impact - The carbon emissions trading market has led to a reduction in carbon intensity for key power generation units by approximately 8.78% from 2018 to 2023, with total carbon emissions decreasing by about 2.8% [2] - The average annual reduction in emission costs is estimated to be around 12 to 13 billion yuan [2]