第23周：组织开展建设第一批试点工作，浙江迎峰度夏方案发布

Investment Rating - The report maintains an "Outperform" rating for the industry [6] Core Insights - The National Energy Administration has initiated the first batch of pilot projects for the construction of a new power system, focusing on seven key directions to enhance the integration and consumption capacity of renewable energy [3][19][20] - Zhejiang Province has released a demand-side management plan for summer peak electricity demand in 2025, aiming to reduce peak load by over 1GW through various measures including time-of-use pricing and encouraging user-side energy storage participation [4][27][28] Summary by Sections Market Review - From June 3 to June 6, the gas and water sectors increased by 1.15% and 0.64% respectively, while the environmental and power sectors decreased by 0.07% and 0.60%, with the Shanghai and Shenzhen 300 Index rising by 0.88% during the same period [12][10] Industry Perspectives - The pilot projects for the new power system will explore new technologies and models, addressing bottlenecks in renewable energy development and enhancing the reliability of power supply [3][19][20] - The pilot focuses on seven areas: grid-structured technology, system-friendly renewable power plants, smart microgrids, collaboration between computing power and electricity, virtual power plants, large-scale high-proportion renewable energy delivery, and new-generation coal power [19][20][24] Investment Recommendations - The report recommends specific companies within various sectors: - For thermal power: Jiangsu Guoxin is recommended, while Sheneng Co. and Zhejiang Energy Power are given cautious recommendations [4] - For nuclear power: China National Nuclear Power and China General Nuclear Power are cautiously recommended [4] - For hydropower: Changjiang Power is recommended, with cautious recommendations for Huaneng Hydropower and Qianyuan Power [4] - For green energy: Attention is suggested for Three Gorges Energy and Jiangsu New Energy, with cautious recommendations for Longyuan Power and Zhejiang New Energy [4] - For environmental protection: Yongxing Co., Huaguang Huaneng, and Xuedilong are recommended, with cautious recommendations for United Water and attention for Fuzhi Environmental Protection and Dayu Water Saving [4]