公用事业周报：能源法正式出台，江苏省推进绿电三进工程

Investment Rating - The report maintains a "Positive" investment rating for the utility sector [1] Core Insights - The Energy Law has been officially passed and will take effect on January 1, 2025, transitioning from energy consumption dual control to carbon emission dual control, which is expected to open up demand for green electricity [21][22] - The report highlights the implementation of the "Green Electricity Three Advances" project in Jiangsu Province, aiming to enhance green electricity trading and consumption levels significantly by 2027 [16][17] Summary by Sections Industry News - The Energy Law was passed, establishing a new mechanism for transitioning to carbon emission dual control and clarifying the responsibilities of power supply companies and users in consuming renewable energy [21][22] - The national renewable energy power development monitoring report indicates that the actual completion rate of renewable energy consumption responsibility reached 32.0% in 2023, a year-on-year increase of 0.4 percentage points [11] Key Company Announcements - Xintian Green Energy reported a power generation of 1.203 billion kWh in October 2024, a year-on-year increase of 21.30% [24] - Longyuan Power's October power generation reached 5.897 billion kWh, an increase of 8.22% year-on-year, with cumulative generation of 62.744 billion kWh, up 2.94% year-on-year [24] - China General Nuclear Power reported a power generation of 1,670.5 GWh in October 2024, a year-on-year increase of 31.9% [24] Domestic Power Data Tracking - The average inflow of the Three Gorges Dam was 6,271 cubic meters per second as of November 9, 2024, a decrease of 40.19% year-on-year [29] - The daily coal consumption of key power plants was 4.47 million tons as of October 31, 2024, a decrease of 1.54% year-on-year [29] Fossil Fuels and Hydrological Data Tracking - The spot price of Qinhuangdao port Q5500 thermal coal was 852 RMB/ton as of November 8, 2024, a decrease of 79 RMB/ton (-8.49%) year-on-year [27] - The average utilization rate of wind power in 2023 was 97.3%, an increase of 0.5 percentage points year-on-year [12] Major Company Dividends and Dividend Yields - The report includes a summary of dividend yields for major companies in the utility sector, with notable figures such as Huadian International at 3.99% and China Power at 6.09% [32]