公用事业行业周报（20260308）：全国26年及十五五降碳目标发布，吉林省发布绿电直连实施方案-20260308

Investment Rating - The report maintains a "Buy" rating for the public utility sector, indicating an expected investment return exceeding the market benchmark index by over 15% in the next 6-12 months [4]. Core Insights - The public utility sector has shown resilience, with a 2.76% increase this week, ranking third among 31 sectors, while the broader market indices experienced declines [15]. - The report highlights a shift towards green energy consumption, driven by national carbon reduction targets and policies promoting renewable energy applications, particularly in hydrogen and ammonia production [3][2]. - The implementation of the "14th Five-Year Plan" emphasizes a 17% reduction in carbon emissions per unit of GDP, fostering a transition to low-carbon technologies across key industries [2][3]. Summary by Sections Market Performance - The public utility sector outperformed the market with a 2.76% increase, while the Shanghai Composite Index fell by 0.93% and the Shenzhen Component Index dropped by 2.22% [15]. - Sub-sectors such as thermal power, hydropower, and photovoltaic power saw increases of 3.41%, 4.73%, and 2.06% respectively [15]. Price Updates - Domestic and imported coal prices have shown a slowdown in growth, with domestic coal prices increasing by 3 CNY/ton and imported coal prices rising by 10 CNY/ton this week [10][11]. - The average clearing price for electricity in regions like Shanxi and Guangdong has increased compared to the previous week, reflecting a broader trend of rising electricity prices in certain areas [11]. Policy Developments - The report notes significant policy developments, including the transition of the Liaoning electricity market to continuous settlement, which marks a step forward in market reform [2][9]. - The Jilin Province has introduced a plan for direct green electricity connections, supporting sectors such as hydrogen energy and data centers [2][8]. Investment Opportunities - The report suggests focusing on companies involved in renewable energy applications, particularly those engaged in green hydrogen and ammonia production, such as Electric Power Investment Green Energy and Goldwind Technology [3]. - It also highlights the potential for power operators involved in data centers, recommending companies like Yunnan Power Holdings and JinkoSolar [3]. Stock Performance - Notable stock performances include Water Development Gas (+26.31%), Guikang Electric (+23.17%), and Yunnan Power Holdings (+19.04%) [23]. - Year-to-date, Yunnan Power Holdings has seen a remarkable increase of 205.38%, indicating strong market interest [24].