大能源行业2025年第48周周报（20251130）：关注储能容量电价机制进展输配电价定价办法出台-20251130

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The report emphasizes the acceleration of provincial planning for energy storage and the importance of establishing capacity compensation mechanisms in various provinces [2][12] - It highlights the expected increase in energy storage capacity in Hubei and Heilongjiang provinces, with Hubei aiming for 8 million kW by 2027 and 17 million kW by 2030, while Heilongjiang targets 6 million kW by 2027 [10][11] - The report notes the maturation of conditions for peak-valley price difference benefits, with Hubei's electricity spot market starting in June 2025 and Heilongjiang's trial run beginning in August 2025 [12] Summary by Sections Energy Storage: Provincial Planning Accelerates - Hubei and Heilongjiang provinces have issued plans for energy storage development, with specific targets for installed capacity and mechanisms for capacity compensation [10][11] - Hubei's plan includes reaching 800,000 kW of new energy storage by 2027 and 1.7 million kW by 2030, while Heilongjiang aims for 600,000 kW by 2027 [10][11] - The establishment of a capacity compensation mechanism is highlighted as crucial for enhancing project profitability and financing capabilities [12] Power Equipment: New Pricing Mechanisms - The National Development and Reform Commission has released new pricing methods for power transmission and distribution, which are expected to benefit ultra-high voltage and green electricity direct connection projects [5][14] - The new pricing allows for a single capacity pricing model for enterprises with high load rates, potentially reducing electricity costs [14] - The report suggests that the new pricing mechanisms will promote the consumption of clean energy and support the development of related projects [15][16]