9月底以来，国内外原油价格持续下行，与价格屡创新高的黄金形成强烈反差。其中，NYMEX WTI原 油期货价格一度跌破57美元／桶，ICE Brent原油期货2601合约也一度跌破60美元／桶。此外，预防性 降息利好美国贵金属和美股，而铜和原油受实体经济影响较大，其价格走势取决于市场实际供应情况、 各国经济状况以及对商品的需求。 从原油供需基本面来看，全球原油增产态势明确。一方面，OPEC为争夺市场份额放弃自愿减产；另一 方面，美国等非OPEC国家的原油产量也在不断增长。此外，地缘政治风险缓和，伊朗和俄罗斯原油出 口有望恢复，这使得全球原油库存持续攀升。而原油需求端表现疲软，显示当前原油价格的支撑力量仅 来自美联储降息所带来的投资需求，不足以扭转原油价格的跌势。 增产引发供应过剩担忧 目前，增产引发的供应过剩担忧是原油市场的核心矛盾。数据显示，10月，由沙特领导的OPEC为重新 夺回市场份额，正在撤销此前实施的减产举措，OPEC原油供应量有望升至3469万桶／日，创下2018年 12月以来的最高纪录。10月初，OPEC宣布进一步增产，即在11月增产13.7万桶／日，增产幅度与10月 相同。OPEC正在逐步放弃2 ...

【环球时报驻南非特派记者 董嘉怡 环球时报特约记者 任重】日前南非政府斥资2.2万亿兰特（约合1267亿美元）推进能源转型的消息，再度将非 洲电力供应难题推向公众视野。"非洲电力短缺，6亿人用不上电。"尼日利亚"赋能非洲"网站报道称，能源供应短缺仍是非洲当前最紧迫的挑战之 一，停电与限电更是多国的日常。为解决这一问题，南非、肯尼亚、尼日利亚等国已相继启动能源转型进程。但问题随之而来：巨额投入如何缓 解"电荒"？非洲能源转型又有哪些挑战？ 南非斥资万亿背后 南非作为非洲最大经济体之一，长期以来始终难以摆脱电力危机的困扰。该国电力和能源部部长拉莫豪帕在近期新闻发布会上坦言："电力一直是 我们国家经济的结构性制约因素。" 据报道，2007年以来，拉闸限电成为南非的常态，直到今年大选前后才有所缓解。究其原因，一是过度依赖平均服役年限超过30年的老旧燃煤电 厂；二是国有电力巨头Eskom持续面临债务危机。据路透社报道，今年7月，Eskom负债高达约232亿美元。 持续"电荒"对南非经济造成冲击。据普华永道相关报告，2020年南非有45万人因限电失业，带来的经济损失高达46亿美元。南非科学和工业研究 理事会（CSIR）的 ...

实际上，中国的绿色能源一直是外媒关注的焦点之一。在近期多家外媒的报道中，中国绿色能源的飞跃 不仅惊艳全球，更为世界能源转型开出了"对症良方"。 阿联酋《海湾新闻》网站22日的一篇报道关注中国风能领域发展，报道称，中国的风力发电行业发展速 度很快。中国已经是风力发电领域的全球领导者，未来五年中国风电年新增装机量不低于1.2亿千瓦。 报道称，中国的风能产业不只是在"追逐微风"，而是在努力为未来提供动力。 ...

随着贵金属热度持续升温，不少相关基金产品开始调整申购限额。 10月22日，汇添富黄金及贵金属证券投资基金(LOF)官宣调整大额申购、大额定期定额投资业务限制金额，自2025年10月23日起单日 单个基金账户单笔或多笔累计申购、定期定额投资的金额不应超过100元。 无独有偶，自10月20日起，国投瑞银白银期货证券投资基金(LOF)的A类和C类份额的申购限额分别下调至100元和1000元，较之前的 限额大幅降低。 受访人士认为，多只贵金属投资基金调整申购限额，主要原因是金银价格在持续上涨后波动显著加剧，市场短期投机情绪升温，加大 了基金管理难度。此举有助于保障投资组合的稳健运行和持有人的利益，同时也向投资者发出金银短期风险较高的信号，提示投资者 保持理性、谨慎参与。此外，这也反映出基金公司在市场过热阶段对潜在风险的警惕，以及对产品流动性的审慎管理态度。 申购限额"升级" 就在前一日的10月21日，该基金曾官宣，单日单个基金账户单笔或多笔累计申购、定期定额投资的金额不应超过1万元。然而，一夜 之间，投资者的入场门槛从"万元级"降至"百元级"，呈现出断崖式下跌，限购力度显著升级。 10月18日，国投瑞银基金也发布公告 ...

Core Insights - The biggest bottleneck facing the AI revolution may not be chips, but rather electricity [1] - There exists a significant gap between the demand for AI and the current capabilities of the global power grid in generation and transmission [1] - Sustainable energy investors need to accept that renewable energy alone is insufficient to power the AI era [1] Energy Addition vs. Energy Transition - The current global priority is "energy addition," which involves increasing every type of energy source, rather than solely focusing on "energy transition" [1] - Despite the need for energy addition to support AI development, this does not imply abandoning clean energy [1] - Energy storage, transmission, and distribution capabilities are also critical for success [1] Investment in Clean Energy - Investing in clean energy and decarbonization technologies remains a profitable strategy [1] - Since 2022, the company has committed or arranged approximately $60 billion in investments related to energy transition, infrastructure, and sustainability, exceeding half of its $100 billion target set for 2030 [1]

Core Viewpoint - The article emphasizes China's significant contributions to global energy transition, showcasing its achievements in renewable energy and the upcoming 2025 International Forum on Energy Transition in Suzhou, which aims to address future energy challenges and innovations [5][6][7]. Summary by Sections Achievements in Renewable Energy - China has established the world's largest renewable energy system, with one-third of electricity consumption coming from green energy [6]. - The energy consumption per unit of GDP has decreased by 11.6% over four years [6]. - China has built the largest electric vehicle charging network globally [6]. - The average cost of electricity generated from wind and solar has dropped by 60% and 80%, respectively, over the past decade [6]. Upcoming Forum Details - The 2025 International Forum on Energy Transition will take place from October 23rd to 25th, 2025, in Suzhou, China [2]. - The forum will feature various sub-forums focusing on renewable energy development, new power systems, hydrogen energy, nuclear power, and carbon capture technologies [8]. - Key activities include a main opening ceremony, keynote speeches, and high-level dialogues addressing global clean energy cooperation and the challenges of energy transition [8].

Core Points - The European Union (EU) has officially passed a resolution to halt the transportation of Russian natural gas through its territory, marking a significant step in its strategy to reduce dependence on Russian energy sources [2] - The EU's demand for Russian natural gas was substantial, with approximately 40% of its gas supply coming from Russia in 2021, primarily through pipelines [2] - The EU has set a timeline for this transition, stating that from January 1, 2026, no new natural gas import agreements with Russia will be signed [4] Group 1: EU Energy Policy Changes - Existing contracts with Russia will not be terminated immediately; there will be a transitional period to manage supply gaps, with flexibility based on individual country contract terms [4] - Special provisions have been included for landlocked member states like Austria, Czech Republic, and Slovakia, which have historically relied on Russian gas through pipelines [6] - Hungary has expressed strong opposition to the ban, citing its heavy reliance on Russian energy, with over 80% of its gas and 60% of its oil sourced from Russia [6][8] Group 2: Member States' Reactions - Slovakia's Prime Minister criticized the EU's push to eliminate Russian energy as unrealistic, highlighting the potential for a 40% increase in industrial electricity costs if supplies are cut [8] - In contrast, Denmark supports the ban, having achieved a renewable energy share of 65%, and views the ban as essential for achieving energy independence [10][12] Group 3: Russia's Response and Market Dynamics - Russia has responded to the EU's actions by accusing the US and UK of pressuring the EU to limit its energy cooperation with Russia, which they claim undermines EU's energy sovereignty [13][15] - Since the escalation of the Ukraine conflict in February 2022, the EU has reduced its natural gas purchases from Russia by over 70% by 2023 [16] - Russia is redirecting its energy exports towards Asian markets, with India becoming the second-largest buyer of Russian crude oil, increasing its purchases nearly threefold since 2022 [18] Group 4: Challenges for the EU - While Norway and the US have become primary alternative sources for EU natural gas, the cost of US liquefied natural gas (LNG) is significantly higher than Russian pipeline gas [20] - Current LNG receiving capacity in Europe can only meet about 85% of demand, raising concerns about potential shortages during extreme weather or supply disruptions [22] - The EU's goal to reduce reliance on a single energy source is valid, but the execution presents challenges, including balancing costs and ensuring stable supply [22][24]

据了解，富储科能作为集团"3+3+3"战略下的产业新版块，依托富士康全球领先的精密制造与垂直整合 能力，构建以上海研发中心、武汉试制中心、郑州运营生产中心为核心的储能产业闭环，集研发、制 造、营销于一体，是全球领先的储能系统解决方案提供商。 来源：环球网 凭数十年制造经验，富士康在郑州航空港已建成储能生产基地，配备总面积达20000平方米的厂房、工 艺先进的Pack自动化产线，建立了从电池包到系统、从研发到运维的全生命周期安全防护体系，产品已 在多个园区落地项目，预计年均节省电费超千万元。 预计年均省电超千万元，年产能将达到3GWh的规模……10月21日，富士康旗下储能品牌"富储科能"在 郑州航空港举行富士康储能量产暨新品发布会，意味着富士康在河南再掷一枚重磅棋子。 据悉，富士康储能项目量产后，实现业务迈入规模化、产业化新阶段，年产能将达到3GWh的规模。这 不仅是富士康"3+3+3"战略的关键落子，更是一次向着"全球首个储能灯塔工厂"目标的实质性起跑。 据富士康新能源电池（郑州）有限公司营销总监谭来安介绍，郑州基地具备源网侧及工商业全场景产品 的生产能力，产品可广泛应用于科创园区、智能制造、数据中心、轨道交 ...

Core Viewpoint - Europe, heavily reliant on Russian natural gas, faced a "supply crisis" post-2022, leading to a significant reduction in imports and a surge in energy prices, prompting a shift towards offshore wind energy as a key component of energy sovereignty [2][7][35] Energy Transition Overview - In the early 2000s, Europe's energy transition was centered around natural gas, with its share in the energy mix nearing 25%, while wind and solar energy were less developed [4] - The Russia-Ukraine conflict exposed Europe's dependency on Russian gas, with imports dropping from 150.2 billion cubic meters in 2021 to 51.7 billion cubic meters in 2024, a reduction of nearly two-thirds [7] - Natural gas prices skyrocketed from approximately €20/MWh in 2021 to over €300/MWh in summer 2022, stabilizing between €30-35/MWh, indicating a shift towards local and stable energy sources [9][11] Renewable Energy Growth - In 2023, renewable energy generation in the EU reached approximately 44%, with fossil fuel generation dropping below one-third; wind energy surpassed natural gas for the first time [11][13] - By 2024, fossil fuel generation is expected to decrease to 28.9%, while solar and wind energy will see significant increases, marking a clear transition in the energy structure [14] Offshore Wind Energy Advantages - Offshore wind energy is emerging as a preferred alternative to natural gas due to its higher resource density, stable wind speeds, and better capacity factors compared to onshore wind and solar [16] - A 1GW offshore wind installation can replace approximately 0.8 billion cubic meters of natural gas annually, highlighting its potential impact on reducing gas imports [17] Economic Viability of Offshore Wind - The average cost of offshore wind energy is decreasing, with a projected cost of $0.079/kWh globally and $0.080/kWh in Europe for 2024, making it increasingly profitable [19] - Offshore wind energy has minimal fuel costs and low exposure to external fuel price fluctuations, providing a "de-risking" financial function for governments and households [22] Future Expansion Plans - The global offshore wind capacity is expected to reach 83.2GW by 2024, with Europe accounting for about 36GW, primarily led by the UK, Germany, and the Netherlands [24] - By 2030, Europe aims to increase offshore wind capacity to 111GW, nearly tripling current levels, with significant annual additions planned [30] Challenges to Development - The lengthy administrative processes and insufficient grid capacity pose challenges to offshore wind development, with project timelines often exceeding 7-11 years [27][33] - Financing pressures and supply chain risks are also significant, as the capital intensity of offshore wind projects is high, requiring around €3 billion per GW [33] Conclusion - Despite existing challenges, offshore wind energy has fundamentally changed its role in Europe, becoming a core asset for energy sovereignty, economic stability, and industrial transformation [35]

南都讯 记者王玮 发自苏州 10月22日，第七届未来能源大会在江苏苏州举行，本届大会以"新质变革·协 同未来"为主题。全球能源互联网发展合作组织主席、中国电力企业联合会理事长辛保安在会上发表主 旨演讲时表示，当今世界正经历百年未有之大变局，国际形势复杂多变，全球能源供需格局深刻调整， 产业链重构加速推进，世界能源体系正面临一场前所未有的系统性、根本性变革。 当前能源转型任务紧迫而艰巨。辛保安表示，2024年全球能源相关碳排放达378亿吨，占全球碳排放总 量的85%，再创历史新高。全球化石能源在一次能源结构中的占比仍达80%，较2010年仅下降2.8个百分 点。 为加快实现气候目标，2023年《联合国气候变化框架公约》第二十八次缔约方大会首次对《巴黎协定》 目标进展进行全球盘点，认为全球在减缓和适应气候变化方面取得了一定进展，但仍存在较大差距。各 国承诺到2030年将全球可再生能源装机容量增至三倍，达到110亿千瓦。然而截至去年底，全球可再生 能源总装机容量仅为约40亿千瓦。尽管去年全球可再生能源新增装机创历史新高，达5.8亿千瓦，但要 实现2030年目标，每年至少需新增装机10亿千瓦。 与此同时，2024年全 ...