CGS(SH:601881) Zheng Quan Shi Bao Wang·2025-11-12 00:44Core Viewpoint - The National Development and Reform Commission and the National Energy Administration released guidelines to promote the consumption and regulation of renewable energy, aiming to meet the annual demand for the reasonable consumption of over 200 million kilowatts of new energy, supporting the carbon peak target [1] Group 1: Policy Developments - The guidelines are part of a series of policies that have been gradually implemented since the issuance of Document No. 136, which stabilized electricity price expectations for renewable energy [1] - The acceleration of national subsidies and the recent issuance of consumption guidelines indicate a comprehensive policy framework for the renewable energy sector [1] Group 2: Industry Implications - With ongoing policy support, the current issues related to electricity prices, subsidies, and consumption in the renewable energy sector are expected to ease [1] - The large-scale and high-proportion development of renewable energy will necessitate improvements in the overall adjustment capacity of the power system [1] - There is a recommendation to focus on thermal power, which is expected to realize value in reliability and flexibility, as well as hydropower that benefits from wind and solar energy storage growth [1]