中电联预计，四季度电力消费增速将继续提升

Core Insights - The China Electricity Council (CEC) forecasts that the total electricity consumption in China will reach 10.4 trillion kilowatt-hours (kWh) in 2025, reflecting a year-on-year growth of approximately 5% [1][2] Group 1: Electricity Consumption Trends - In the first three quarters of the year, total electricity consumption reached a historical high of 7.77 trillion kWh, with a year-on-year increase of 4.6% [2] - The growth rates for electricity consumption in the first, second, and third quarters were 2.5%, 4.9%, and 6.1%, respectively, indicating a consistent upward trend [2] - The secondary industry saw a significant increase in electricity consumption, with a year-on-year growth of 5.1% in the third quarter, driven by policies aimed at stabilizing growth [3] Group 2: Sector-Specific Insights - The manufacturing sector's electricity consumption grew by 3.2% year-on-year in the first three quarters, with high-tech and equipment manufacturing showing a notable increase of 5.9% [2] - The electric vehicle sector experienced a remarkable growth in electricity consumption, with a year-on-year increase of 45.2% in the first three quarters [3] - The internet and related services sector also saw substantial growth, with a year-on-year increase of 29.8% in electricity consumption [3] Group 3: Supply and Investment Trends - As of the end of September, the total installed power generation capacity reached 3.72 billion kilowatts, a year-on-year increase of 17.5%, with non-fossil energy sources accounting for 60.8% of the total capacity [4] - Investment in the electricity sector reached 1.04 trillion yuan, a year-on-year increase of 4.4%, with non-fossil energy investments making up 79.2% of power generation investments [4] - Wind and solar power installations accounted for 82.2% of the newly added generation capacity in the first three quarters, with total installed capacity for wind and solar reaching 1.71 billion kilowatts, a year-on-year increase of 36.4% [4][5] Group 4: Future Projections - The CEC anticipates that by the end of 2025, the total installed power generation capacity will reach approximately 3.9 billion kilowatts, with wind and solar power expected to account for 46.5% of the total capacity [7]