20余省份机制电价揭晓! 上海比山东高约85%,浙江比辽宁高约31%……

Core Viewpoint - The introduction of the mechanism electricity price system, effective from May 31, 2025, is leading to significant changes in the investment landscape for renewable energy projects, particularly in the photovoltaic (PV) sector, as companies adjust their strategies in response to new pricing structures and market dynamics [1][14]. Group 1: Mechanism Electricity Price Changes - The mechanism electricity price for new renewable energy projects will be determined through competitive bidding, replacing the previous guaranteed purchase system [1][4]. - The price differences for renewable energy projects across various provinces are substantial, with solar prices ranging from 0.1500 yuan/kWh in Xinjiang to 0.4155 yuan/kWh in Shanghai, indicating a disparity of over 84.67% [3][5]. - The mechanism electricity price for existing projects varies between 0.26 yuan/kWh and 0.45 yuan/kWh, with higher prices in economically developed provinces [4][5]. Group 2: Impact on Investment Strategies - Companies are becoming more cautious in their investment decisions, particularly in the PV sector, as they await the implementation of provincial guidelines and assess profitability [14][15]. - The return on investment period for existing projects has extended from 6.5 years to 8 years due to lower electricity sales revenue, prompting some developers to shift focus to EPC (Engineering, Procurement, and Construction) services [1][14]. - The competitive bidding process is leading to lower mechanism electricity prices, as companies often submit lower bids to secure participation, which can further depress prices [13][14]. Group 3: Regional Pricing Dynamics - The pricing of renewable energy projects reflects regional resource endowments and demand, with high-demand areas like Shanghai setting higher prices to encourage local green energy development [6][7]. - In regions with abundant renewable resources but limited consumption capacity, such as Gansu, the mechanism electricity prices are significantly lower due to oversupply in the market [6][7]. - The disparity in pricing is also influenced by local policies and the competitive landscape among renewable energy companies [6][7]. Group 4: Future Market Dynamics - The transition to a market-driven pricing mechanism is expected to increase competition in the electricity market, potentially leading to lower overall electricity prices for consumers [22]. - The implementation of the mechanism electricity price may exacerbate the occurrence of negative electricity prices during periods of oversupply, as companies may adopt aggressive pricing strategies to ensure their electricity is sold [23][24]. - Long-term, the new pricing mechanism aims to promote efficient resource allocation and rational market behavior, which could alleviate negative pricing phenomena [24][25].