公用事业行业跟踪周报：中国核电漳州1号并网发电，国家能源局召开全国可再生能源开发建设调度会

Investment Rating - The report maintains an "Accumulate" rating for the public utility sector [1] Core Insights - The report highlights the successful grid connection of the Zhangzhou Nuclear Power Unit 1, which has a capacity of 1.212 million kilowatts, marking a significant milestone in China's nuclear power development [1] - The National Energy Administration convened a meeting to enhance grid connection services for renewable energy projects, emphasizing the importance of timely integration and consumption of energy [1] - The report tracks key industry data, noting a decrease in electricity prices and coal prices, while natural gas prices showed mixed trends across different regions [1] Summary by Sections Market Review - The SW public index decreased by 0.10% during the week of November 25 to November 29, 2024, underperforming the market [99] - The report lists the top gainers and losers in the sector, with significant increases in gas and renewable energy stocks [99][101] Power Sector Tracking - Total electricity consumption from January to October 2024 increased by 7.6% year-on-year, with the tertiary industry and residential sectors showing higher growth rates [107] - Total power generation for the same period rose by 5.2%, with notable contributions from hydropower and renewable sources [119] - The average grid purchase price for December 2024 is reported at 375 RMB/MWh, reflecting a year-on-year decrease of 13% [134] Natural Gas - The report indicates a rise in natural gas prices due to increased demand during the heating season, while domestic price reforms continue to progress [3][3.1] - The report suggests that companies with quality long-term contracts and flexible scheduling should be prioritized for investment [1] Investment Recommendations - Recommendations include focusing on companies in the natural gas sector such as Xin'ao Co. and Jiufeng Energy, as well as in the thermal power sector like Anhui Energy and Huadian International [1] - The report also highlights opportunities in renewable energy, particularly in wind and solar power, with companies like Longjing Environmental Protection being emphasized [1]