Investment Rating - The report maintains a "Positive" investment rating for the public utility sector [3] Core Insights - In October 2024, the total electricity consumption in China increased by 4.3% year-on-year, with a notable decline in growth rate compared to September [11][12] - The total installed capacity in October 2024 reached 36.75 GW, with significant contributions from thermal and solar power [20][21] - The completion of the China-Russia East Line gas pipeline enhances gas supply diversity and interconnectivity of the pipeline network [32][39] Summary by Sections Electricity Data - In October 2024, the total electricity consumption was 774.2 billion kWh, with year-on-year growth of 4.3% and a month-on-month decline of 4.2 percentage points [11] - The contribution to electricity consumption growth from various sectors in October was 1.6% from the primary industry, 44% from the secondary industry, 33.2% from the tertiary industry, and 21.9% from urban and rural residents [11][12] - For the first ten months of 2024, total electricity consumption was 818.36 billion kWh, with a year-on-year growth of 7.6% [16] Installed Capacity Data - The newly added installed capacity in October 2024 was 36.75 GW, with thermal power contributing 8.75 GW and solar power contributing 20.42 GW [20] - The average utilization hours for power generation equipment in October 2024 were 261 hours, a decrease of 19 hours year-on-year [29] Natural Gas Sector - The completion of the China-Russia East Line gas pipeline is expected to increase gas supply in the Yangtze River Delta region [32] - The gas import volume from Russia is projected to reach 38 billion cubic meters in 2024, with a growing share of total gas imports [36][39] - The ongoing construction of domestic gas pipeline infrastructure supports the establishment of a unified national gas market [46][54]
公用事业2024年第47周周报（20241122）：10月电力数据公布 中俄东线管道全线完工
Hua Yuan Zheng Quan·2024-11-25 08:25