第一财经·2025-07-21 10:00Core Viewpoint - The urban gas industry is undergoing a transformation towards comprehensive energy services, embracing smart technologies and exploring international expansion opportunities, driven by the dual carbon goals and market reforms in China [1][5][9]. Industry Overview - The urban gas industry in China has evolved significantly since the "West-East Gas Pipeline" project in 2004, transitioning from a phase of rapid expansion to a period of deep adjustment due to market reforms and increased competition [1][7]. - The industry is now characterized by a fragmented structure with major players and numerous small enterprises, facing challenges such as aging infrastructure and intensified competition from electrification [1][7]. Transition to Comprehensive Energy Services - Urban gas companies are shifting from traditional gas sales to becoming comprehensive energy service providers, integrating electricity, gas, heat, and renewable energy sources [4][5]. - New opportunities are emerging under the dual carbon goals, prompting companies to innovate and adapt their business models to include energy efficiency and carbon reduction strategies [3][9]. Case Study: Dunhuang Textile - Dunhuang Textile has successfully reduced energy costs by 14% through energy efficiency upgrades and the implementation of a comprehensive energy management system, showcasing the potential benefits of transitioning to a comprehensive energy model [3][12]. - The company’s experience reflects a broader trend in the industry where traditional high-energy-consuming sectors are seeking to lower costs and improve competitiveness through integrated energy solutions [3][12]. Market Dynamics and Challenges - The demand for natural gas is declining, with a reported 1.3% year-on-year decrease in consumption from January to May, leading to financial pressures on urban gas companies [7][8]. - Companies are facing challenges from price fluctuations and regulatory constraints, which complicate their ability to maintain profitability in the face of rising operational costs [7][8]. Policy and Technological Support - Government policies are increasingly focused on establishing zero-carbon parks and promoting renewable energy integration, which is expected to drive the growth of comprehensive energy services [9][10]. - Technological advancements in renewable energy and energy management systems are reducing costs and enhancing the economic viability of comprehensive energy solutions [10][16]. Business Model Innovation - Urban gas companies are exploring different business models, including fixed-price and sharing models, to enhance profitability and align interests with customers [15][16]. - The shift towards a service-oriented approach requires companies to rethink their operational strategies, focusing on customer needs and collaborative value creation [15][16]. Future Outlook - The comprehensive energy market presents significant growth potential, particularly in energy efficiency retrofits and carbon reduction investments, estimated to be in the range of $0.7 trillion to $2.7 trillion for industrial sectors [14]. - As the market evolves, urban gas companies will need to enhance their operational and trading capabilities to remain competitive in the integrated energy landscape [16].