Ge Long Hui·2026-01-16 10:22Core Viewpoint - Huaneng International reported a decline in electricity generation and pricing for the fourth quarter of 2025, indicating potential challenges in the domestic power market [1] Group 1: Electricity Generation - In the fourth quarter of 2025, the total electricity generation from Huaneng International's operating power plants in China was 106.112 billion kilowatt-hours, representing a year-on-year decrease of 5.00% [1] - For the entire year of 2025, the cumulative electricity generation was 437.563 billion kilowatt-hours, down 3.39% compared to the previous year [1] Group 2: Pricing and Market Dynamics - The average on-grid settlement price for electricity in 2025 was 477.08 yuan per megawatt-hour, which is a decrease of 3.48% year-on-year [1] - The proportion of market-based trading electricity volume for the year was 85.43%, reflecting a decline of 1.92 percentage points from the same period last year [1]