公用事业行业周报：新型经营主体助力构建新型电力系统，世界在役最大火电厂致力于打造能源超市

Investment Rating - The report maintains an "Outperform" rating for the industry [5] Core Insights - The issuance of the "Guiding Opinions on Supporting the Innovative Development of New Business Entities in the Power Sector" is expected to promote the construction of a new power system [4][50] - Datang Tuoketuo Power Plant is transitioning from a single coal-fired power model to a diversified energy model, aiming to create a "future power plant" and "energy supermarket" [3][22] Summary by Sections Market Review - From December 2 to December 6, the environmental sector rose by 3.70%, the water sector by 2.35%, the power sector by 3.60%, and the gas sector fell by 0.15%, while the CSI 300 index increased by 2.60% [12][14] Industry Perspectives - The new business entities are crucial for constructing a new power system that accommodates a high proportion of renewable energy consumption. The challenges include insufficient renewable energy absorption capacity, lack of profitable models for new storage technologies, and increased supply pressure due to the instability of renewable energy [17][18] - The "Guiding Opinions" define new business entities, including distributed renewable energy and new storage technologies, and outline their roles in addressing supply, regulation, and absorption challenges [18][21] Company Announcements - Datang Tuoketuo Power Plant currently operates a total installed capacity of 8.73 million kW, with 6.72 million kW from coal, 1.70 million kW from wind, and 0.31 million kW from solar. In the first half of 2024, the plant's revenue reached 5.072 billion yuan, with a net profit of 680 million yuan [3][22][24] Investment Recommendations - The report suggests focusing on companies in the green energy sector such as Three Gorges Energy, while being cautious with Longyuan Power, Zhejiang New Energy, and Zhonglv Electric. In the hydropower sector, it recommends attention to Changjiang Electric Power and Qianyuan Electric, with caution advised for Guotou Power and Huaneng Hydropower [4]