中信证券：建议关注容量市场建设进程中直接受益的火电企业等

Core Viewpoint - The report from CITIC Securities highlights the significant challenges in maintaining the balance of the power system under high proportions of renewable energy, emphasizing the urgent need for a power capacity market mechanism that reflects the value of capacity support [1] Group 1: Power System Challenges - The increasing share of renewable energy sources poses substantial challenges for ensuring the balance of the power system [1] - There is a need for reasonable recovery of installation costs for various power generation entities [1] Group 2: Capacity Market Development - Short-term recovery of installation costs for traditional baseload power sources is expected to be primarily through capacity compensation pricing [1] - In the medium to long term, the establishment of a power capacity market is anticipated, which will include new energy storage, wind and solar power, and virtual power plants [1] Group 3: Investment Opportunities - Companies directly benefiting from the construction of the capacity market, such as thermal power enterprises, should be monitored [1] - There are opportunities in the profitability models of energy storage and virtual power plants, as well as in supporting industries like smart metering devices and power trading software [1]