Investment Rating - The report maintains an "Outperform" rating for the public utility sector [6] Core Insights - The report highlights the acceleration of energy green and low-carbon transformation, with a focus on the establishment of a unified national electricity market and the regulation of new solid waste management related to retired photovoltaic and wind power equipment [2][4][20] Summary by Sections Market Review - From October 28 to November 1, the electricity, environmental protection, and water utility sectors rose by 1.06%, 1.25%, and 0.94% respectively, while the gas sector fell by 1.04%. During the same period, the CSI 300 index declined by 1.68% [11][12] Industry Perspectives - The "Blue Book" released by the China Electricity Council outlines the roadmap for establishing a unified national electricity market, aiming for preliminary completion by 2025, full establishment by 2029, and refinement by 2035. Key tasks include building a multi-level market structure and mechanisms that adapt to green and low-carbon transitions [2][14][15] - The National Energy Administration reported a 21% year-on-year increase in newly installed renewable energy capacity in the first three quarters of 2024, with renewable energy accounting for 86% of new power installations [3][20][22] - The release of technical specifications for the recycling of retired photovoltaic equipment aims to standardize pollution control and enhance recycling rates, addressing challenges in the industry [4][25][26] Investment Recommendations - The report suggests focusing on specific companies within the hydropower, thermal power, nuclear power, and renewable energy sectors, including recommendations for companies like China Nuclear Power and Three Gorges Energy, while advising caution for others [4][24]
公用事业行业周报:全国统一电力市场征求稿印发,能源绿色低碳转型加速,新固废治理趋于规范
Huafu Securities·2024-11-03 04:43