国际能源+工业周报：全社会用电量同增8.9%，美国对华加征50%关税

Investment Rating - The report suggests that Chinese companies, as major suppliers, are expected to benefit significantly from the energy transition in Europe and the United States. It recommends focusing on leading battery manufacturers with overseas layout advantages and sufficient technological reserves, as well as high-value submarine cable companies, tower companies, and leading power equipment manufacturers [2]. Core Insights - In China, the LNG import price and market price continued to decline, with the LNG import price at $12.91 per million British thermal units, down 3.51% week-on-week, and the market price at $5,077 per million British thermal units, down 3.24% [4][6]. - Total electricity consumption in August reached 964.9 billion kilowatt-hours, a year-on-year increase of 8.9%, with cumulative consumption from January to August at 6,561.9 billion kilowatt-hours, up 7.9% year-on-year [4][9]. - In the energy storage lithium battery sector, CATL launched commercial vehicle batteries for overseas markets [4]. - In the photovoltaic sector, 16.46 GW of new installations were added in August, representing a year-on-year increase of 2.88% [4][20]. - Wind power installations from January to August 2024 reached 33.61 GW, a nearly 16.22% increase year-on-year, while grid investment totaled 333 billion yuan, up 23.1% year-on-year [4][9]. - The report highlights the ongoing developments in the energy markets of the United States, Europe, India, Japan, South Korea, and Southeast Asia, including tariff impositions and infrastructure investments [4][9]. Summary by Sections 1. Natural Gas Market Update - The LNG import price in China decreased to $12.91 per million British thermal units, and the market price fell to $5,077 per million British thermal units, indicating a weak downstream demand [4][6][7]. 2. Electricity Market Update - Industrial electricity generation in August was 907.4 billion kilowatt-hours, a year-on-year increase of 5.8%, with significant growth in nuclear, wind, and solar power generation [9][10]. 3. Energy Storage Lithium Battery Market Update - The average price of a 2-hour energy storage system increased by 16.4% month-on-month, with a total scale of 4.15 GW/11.24 GWh in August [15][19]. 4. Photovoltaic Market Update - New photovoltaic installations reached 139.99 GW from January to August, with a year-on-year increase of 14.0%, and the cumulative installed capacity was approximately 750 million kilowatts [20][22]. 5. Wind Power Market Update - A total of 1,017.5 MW of wind turbine procurement projects were initiated, indicating ongoing investment in wind energy infrastructure [31].