Group 1 - The total installed power generation capacity in China is expected to exceed 3.8 billion kilowatts by 2025, representing a year-on-year growth of 14% [1] - The annual electricity consumption is projected to surpass 10 trillion kilowatt-hours for the first time, indicating strong demand for electricity in economic and social development [1] - The electricity supply-demand balance is expected to become more relaxed, contributing to a downward trend in spot market prices from 2022 to 2024 [1] Group 2 - National Energy Administration anticipates that the electricity supply-demand situation will further ease in the second half of the year and into 2026, with local governments pushing for lower electricity prices [2] - The long-term contract electricity prices are expected to decrease in 2025, while coal-fired power capacity prices will rise, indicating a shift in market dynamics [2] - The performance of coal-fired power in Q3 is expected to improve, supported by a rebound in coal prices and expectations of stable electricity prices [2]
机构：电改持续深化 稀缺稳定价值凸显
Zheng Quan Shi Bao Wang·2025-12-16 00:31