【公用事业】"十五五"规划纲要聚焦碳双控，继续看好绿电板块——公用事业行业周报（20260315）（殷中枢/宋黎超）

Market Overview - The SW public utility sector increased by 3.07%, ranking 4th among 31 SW primary sectors; the CSI 300 rose by 0.19%, the Shanghai Composite Index fell by 0.7%, the Shenzhen Component Index rose by 0.76%, and the ChiNext Index increased by 2.51% [4] - Among sub-sectors, thermal power rose by 1.97%, hydropower by 1.58%, photovoltaic power by 5.31%, wind power by 8.49%, comprehensive energy services by 1.99%, while gas fell by 0.07% [4] Price Trends - Domestic Qinhuangdao port 5500 kcal thermal coal price fell by 15 CNY/ton week-on-week; imported thermal coal prices showed divergence with Indonesian coal rising by 10 CNY/ton and Australian coal also increasing by 10 CNY/ton [5] - The average clearing price in Shanxi fell year-on-year, while the average clearing price in Guangdong rose year-on-year; nationwide agent purchase electricity fees decreased significantly due to lower thermal power annual contract prices and the entry of renewable energy [5] Key Events - The 15th Five-Year Plan emphasizes significant progress in building a beautiful China, achieving carbon peak goals, and establishing a clean, low-carbon, safe, and efficient new energy system [6] - The plan includes the construction of major hydropower and wind-solar integrated bases, offshore wind power bases, coastal nuclear power, and natural gas pipelines [6] - It also highlights the need for a price mechanism primarily determined by market supply and demand, and the implementation of dual control over carbon emissions [6] Industry Insights - The dual control of energy consumption and carbon emissions is expected to enhance the trend of green electricity consumption, driven by AI development and various government policies aimed at increasing renewable energy usage [7][8] - Policies include the "East Data West Computing" initiative and plans for green low-carbon development of data centers, which are expected to stimulate green electricity demand and streamline industry models [8] - Short-term pressures may arise in the "computing electricity" sector after significant price increases, but long-term industry trends remain positive [8]