电改系列：电力新型主体指导意见发布，创新发展迈出关键一步

Investment Rating - The industry investment rating is "Buy" [3] Core Viewpoints - The recent release of the "Guiding Opinions on Supporting the Innovative Development of New Business Entities in the Power Sector" by the National Energy Administration marks a significant step in defining new business entities in the power sector, including distributed energy sources and virtual power plants [1][2] - The guiding opinions aim to facilitate the connection and operation of new business entities, support their participation in the electricity market, and improve their scheduling and operation capabilities [1] - The report highlights the importance of distributed energy and microgrids in the new power system, with a focus on virtual power plants and microgrid development in the near term [1] Summary by Sections New Business Entities - New business entities in the power sector are categorized into two types: single technology types (e.g., distributed photovoltaic, decentralized wind, energy storage) and resource aggregation types (e.g., virtual power plants, smart microgrids) [1] - The guiding opinions exempt new business entities from applying for electricity business licenses and require grid companies to provide efficient connection services [1] Market Participation - The report emphasizes enhancing the flexibility of medium- and long-term electricity trading and expanding the scope of the spot market to allow new business entities to participate more actively [1] - It suggests the introduction of standardized trading products for different time periods to increase trading frequency [1] Operational Improvements - The guiding opinions call for improvements in the scheduling and operational capabilities of new business entities, encouraging those with a capacity of 5MW or more to provide energy and ancillary services [1] - The report anticipates that the development of virtual power plants and microgrids will accelerate, with significant hardware and software demand arising from improved controllability in the distribution segment [1] Investment Recommendations - The report recommends focusing on companies such as Fuling Power, South Network Energy, and others involved in virtual power plants and microgrid development [1] - It also suggests monitoring companies that can meet the increased demand for hardware and software in the distribution segment, such as Guoneng Rixin and Weisheng Information [1]