Core Insights - The green low-carbon investment in China has exceeded 14% of total social investment, reaching 6 trillion yuan, filling much of the decline in real estate investment since 2020, indicating that green low-carbon has become a new growth driver for the Chinese economy [1][2] - China is transitioning into a high-income economy, with coastal regions and major urban areas already resembling developed economies, highlighting a shift in comparative advantages and growth dynamics [1] - The energy technology revolution centered around green low-carbon is underway, with significant increases in wind and solar power installations projected from 2021 to 2024, leading to a cumulative capacity exceeding 1.4 billion kilowatts by the end of 2024 [1] Investment and Economic Growth - The new energy sector, referred to as "new three samples," accounts for approximately 6% of total exports and over 2% of GDP, emphasizing its role in economic growth [2] - The investment in the green low-carbon sector is a substantial part of the overall economic landscape, reinforcing its importance as a new growth engine [2] Energy Transition and Reform - There is a strong emphasis on deepening reforms to facilitate the transition to a new energy system, focusing on high proportions of non-fossil energy and demand-side management [2] - The proposed reforms aim to enhance the deployment of green low-carbon technologies and ensure a fair distribution of costs among power generation companies, the grid, and end-users [2] - Future initiatives include incorporating renewable energy into carbon markets and supporting the profitability of wind and solar developments [2]

当前，我国正大力推进能源绿色转型，南网储能公司积极响应国家号召，将300兆瓦级、400兆瓦级国产 变速抽蓄机组成套设备纳入能源领域首台(套)重大技术装备清单。公司基建部总经理余建生表示，将以 肇庆浪江、惠州中洞两个在建抽蓄工程为依托，加速推进不同容量等级的国产变速机组工程应用，两台 首台(套)机组预计分别于2026年、2027年投产发电，为我国能源事业高质量发展贡献南网储能力量。 7月6日，由南网储能（600995）公司主导研发的重大成果——国家能源领域首台(套)重大技术装备肇庆 浪江300兆瓦变速抽水蓄能机组交流励磁系统，在江苏常州顺利通过工厂试验并正式下线。这一里程碑 事件标志着南网储能公司在推动我国能源转型技术革新征程中迈出坚实一步，为新型电力系统构建注入 强大动力。 与传统的定速抽蓄机组不同，变速抽蓄机组对励磁系统的稳定调节功能要求极高。南网储能公司研发团 队针对技术原理差异，创新采用"器件串联+支路并联"的全新技术路线，成功攻克系统输出电压电流、 调节频率、器件结构等一系列技术难题。新系统需满足电压6.6千伏、电流6.1千安等严苛参数要求，经 全套工厂试验，各项性能指标均合格达标。 该交流励磁系统作 ...

Core Viewpoint - The article emphasizes the importance of promoting the scientific planning and construction of high-power charging facilities to support the development of the electric vehicle industry and the transition to a green and low-carbon transportation energy sector. The goal is to have over 100,000 high-power charging facilities nationwide by the end of 2027, with improved service quality and technological advancements [5][7]. Group 1: Planning and Development - The notification calls for a focus on high-power charging facilities that have a utilization rate exceeding 40% during major holidays for upgrades [1][7]. - Local economic development levels, electric vehicle promotion efforts, and power resource distribution should guide the planning of high-power charging facilities [6]. - The provincial departments responsible for charging facility development are tasked with setting development goals and construction tasks for high-power charging facilities [6][7]. Group 2: Construction and Operation - Project construction units must comply with legal procedures for project filing, and local departments should strengthen supervision to avoid resource waste [8]. - The government is encouraged to support quality operators in building and operating charging stations, particularly in public transport and logistics sectors [8]. - Charging operators are required to enhance the quality and efficiency of their services, aiming for a device availability rate of no less than 98% [9]. Group 3: Safety and Management - Safety management is emphasized, with strict adherence to national standards for the design, construction, and operation of charging stations [10]. - Charging operators must ensure compliance with quality regulations and maintain high safety standards in their operations [10]. Group 4: Integration with Power Grid - The integration of high-power charging facilities with the power grid is crucial, with studies on the impact of charging loads on regional distribution systems [11]. - The establishment of efficient interaction mechanisms between charging stations and the power grid is encouraged, including the use of solar power and energy storage [11]. Group 5: Technical Standards and Innovation - Continuous development of technical standards for high-power charging is necessary, covering various aspects such as equipment, safety, and digitalization [12]. - Encouragement for technological innovation in charging equipment to improve efficiency and lifespan is highlighted, including research on high-capacity charging technologies [13]. Group 6: Support and Coordination - Local departments are urged to enhance support for the development of high-power charging facilities, including land, power supply, and financial policies [14][15]. - Coordination among various governmental departments is essential for effective planning and implementation of charging infrastructure [16].

_ 136 _ 10 ___ 24Q4 行业月报 ·公用事业行业 2 行业月报 · 公用事业行业 可证券|CGS 一、行业要闻 1. 河南电力现货市场完成短周期结算试运行 6月 27日,河南电力现货市场完成短周期结算试运行,共计 112台煤电机组、390 座新能源场 站、127 家售电公司、12 座独立储能电站参与交易。这标志着河南电力市场化改革迈出关键一步。 中国银河证券|CGS 目录 Catalog | 一、 行业要闻 | | --- | | 二、 行业数据 … | | (一) 碳交易市场情况 | | (二） 电力行业相关数据………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 7 | | 三、 太阳能单月装机创新高，火电发电量由降转增 | | 四、 开展新型电力系统建设试点，助力新能源消纳……………………………………………………………………………………………………………………………11 | | 五、 环保 ...

_ 136 _ 10 ___ 2 行业月报 · 公用事业行业 24Q4 行业月报 ·公用事业行业 中国银河证券|CGS 目录 Catalog | 一、 行业要闻 | | --- | | 二、 行业数据 … | | (一) 碳交易市场情况 | | (二） 电力行业相关数据………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 7 | | 三、 太阳能单月装机创新高，火电发电量由降转增 | | 四、 开展新型电力系统建设试点，助力新能源消纳……………………………………………………………………………………………………………………………11 | | 五、 环保公用行业表现………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………１2 | | ...

Core Viewpoint - The acceleration of new energy storage projects in Inner Mongolia is crucial for enhancing grid stability and supporting the construction of a new power system, addressing renewable energy consumption issues [2]. Group 1: New Energy Storage Projects - By the first half of 2025, Inner Mongolia plans to start construction on 34 independent new energy storage stations, with a total installed capacity of 14.8 million kilowatts [1]. - Recent projects include a 1 million kilowatt/600 megawatt-hour storage station in Ulanqab and a 300 megawatt/1280 megawatt-hour project in Ordos, among others [1]. - The new energy storage stations will utilize various technologies, including lithium iron phosphate, all-vanadium flow batteries, compressed air storage, and molten salt storage [1]. Group 2: Importance of New Energy Storage - New energy storage acts as a "stabilizer" and "regulator" for the power system, playing a vital role in the construction of a new power system [2]. - The rapid development of new energy storage stations will not only help in the consumption of renewable energy but also enhance the stability and flexibility of the power grid [2].

Core Viewpoint - The article highlights the significant increase in energy storage policies in China, with 45 policies released or solicited for opinions by June 2025, focusing on development planning, subsidy policies, electricity markets, and management regulations [1][2]. Policy Data Overview - In June 2025, a total of 45 energy storage-related policies were released, with 5 at the national level. Among these, 38 were classified as very important, with Guangdong and Inner Mongolia leading in the number of policies issued. The majority of policies pertained to electricity markets, pricing policies, demand response, and development planning [2][4]. Important Policy Overview National Level - The National Energy Administration issued a notice to conduct pilot projects for new power system construction, focusing on seven areas including grid technology and virtual power plants [4]. - The National Development and Reform Commission released a draft for emergency dispatch management, clarifying pricing and cost-sharing methods for emergency electricity dispatch [4][5]. Local Level - Xinjiang's Development and Reform Commission published a notice to enhance the resilience of new energy development, proposing 21 specific measures, including a reduction in peak compensation from 0.7 yuan/kWh to 0.262 yuan/kWh [6]. - Guangdong Electric Power Company reported 209 projects applied for the 2025 new energy storage construction plan, with a total scale of 41.81 GW/84.59 GWh [7]. New Energy Storage Policies - Henan's Development and Reform Commission announced the implementation of the tenth batch of integrated source-grid-load-storage projects, including 63 projects with a total scale of 360.65 MW [9]. - Inner Mongolia's Energy Bureau optimized the application requirements for integrated source-grid-load-storage projects, removing restrictions on the same legal entity and adjusting requirements for energy storage configuration [9][10]. Electricity Market Policies - Hubei's Development and Reform Commission confirmed the formal operation of its electricity spot market, which has been running for over a year [11]. - Various provinces, including Jiangsu and Guangdong, released guidelines for the participation of grid-side energy storage in the electricity market, allowing for flexible pricing and participation methods [11][12][13]. Subsidy Policies - Ningbo's Economic and Information Technology Bureau introduced a subsidy plan for energy storage and virtual power plants, with peak response subsidies set at 1 yuan/kWh [26]. - Inner Mongolia established a compensation policy for independent new energy storage stations, with a compensation standard of 0.35 yuan/kWh for projects completed by 2025 [27][28]. Management Norms - Henan's Development and Reform Commission and Energy Regulatory Office issued a notice to facilitate the connection of various power projects to the grid, establishing a green channel policy for integrated projects [30]. - Jilin's Development and Reform Commission published interim management measures for new energy storage projects, with a focus on developing an annual project database [30][31]. Demand Response Policies - Zhejiang's Energy Bureau set a target for a maximum response capacity of 600 MW for demand-side management during peak summer periods, encouraging user-side storage participation [32]. - Sichuan's Development and Reform Commission outlined a market-oriented response plan, detailing revenue structures for standby capacity and response energy [32][33]. Virtual Power Plant Policies - Guizhou's Energy Bureau released a draft for virtual power plant participation in electricity market transactions, categorizing them into load and generation types [34]. - Several provinces, including Guangdong and Shaanxi, issued guidelines to support the construction and operation of virtual power plants, emphasizing market participation and resource aggregation [35][36]. Demonstration Projects - Inner Mongolia's Energy Bureau published a list of 16 independent new energy storage projects planned for 2025, with a total installed capacity of 4.75 GW/19.7 GWh [37].

Core Insights - The value of battery swapping stations extends beyond rapid energy replenishment for electric vehicles; they are seen as a crucial link between distributed energy storage and the power grid in the future [1] - Battery swapping stations are integral to the new power system, providing "certain power and variable energy," and will play a significant role in the efficient allocation of energy resources [1][2] - The profitability of battery swapping stations is not limited to vehicle energy sales; they can also generate revenue through interactions with the power grid [2] Industry Trends - The future of the new power system is expected to focus on distributed generation and digital scheduling, with electric vehicles becoming the largest carriers of distributed energy storage [1][5] - The integration of battery swapping stations is essential for the health and scalable development of the vehicle-grid interaction ecosystem [1] - The shift towards renewable energy sources like wind and solar necessitates energy storage solutions, positioning electric vehicles as the largest mobile energy storage units [1][5] Market Potential - Rural areas and lower-tier cities are identified as potential markets for battery swapping, but the current infrastructure and demand density may not support immediate implementation [3] - The focus on heavy-duty trucks for battery swapping is highlighted, as they require significant energy storage and benefit from the efficiency of quick battery swaps [4] Future Developments - The company plans to invest in battery swapping stations for heavy-duty trucks, supported by national initiatives for highway infrastructure [4] - As the number of electric vehicles increases, the core value of vehicle-grid interaction will become more pronounced, emphasizing the need for effective energy storage solutions [5]

江南时报讯 7月2日，500千伏旗杰变电站检修完成，标志着江苏2025年度500千伏及以上电网春季检修 工作全面结束。此次春检自今年2月启动，历时146天，覆盖省内13个设区市，为即将到来的夏季用电高 峰提供了坚强保障。 江苏作为经济与用能大省，电网安全至关重要。数据显示，今年1至5月，江苏全社会用电量达3315.8亿 千瓦时，同比增长2.5%。面对持续增长的用电负荷、构建新型电力系统的要求以及气象部门预测的今 夏高温天数偏多等因素叠加，今夏江苏电网将面临更严峻的挑战。 目前，江苏电网拥有35千伏及以上变电站3354座、输电线路11.28万公里，尤其在500千伏输电网上已经 形成"七纵七横"的坚强网架。 "500千伏及以上电压等级主干电网犹如人体的主动脉，它的安全与否事关全省8000万居民的可靠供 电。"国网江苏省电力有限公司设备部变电处四级职员蔚超表示，为筑牢主干电网安全根基，国网江苏 电力紧扣本质安全核心，以提升设备健康水平和电网运行可靠性为目标，提前谋划部署，高质量完成 500千伏及以上停电检修作业411项。 作为省内电网检修的王牌师，江苏省送变电有限公司承担着省内500千伏及以上输变电工程年度检修业 ...

Group 1 - In June, Inner Mongolia commenced the construction of several new energy storage projects, marking a significant acceleration in the development of new energy storage systems [1] - By June 2025, a total of 34 independent new energy storage projects will be under construction in Inner Mongolia, with a total installed capacity of 14.8 million kilowatts, which is more than double the existing capacity [1] - The new energy storage projects in Inner Mongolia feature large scales and diverse technological routes, including lithium iron phosphate, all-vanadium flow batteries, compressed air storage, and molten salt storage [1] Group 2 - In 2024, Inner Mongolia plans to accelerate the construction of a new power system, leading to a rapid increase in new energy storage capacity, with an additional 7.08 million kilowatts installed, representing a year-on-year growth of 246% [2] - The cumulative installed capacity of new energy storage in Inner Mongolia has surpassed 10 million kilowatts, reaching 10.32 million kilowatts, making it the highest in the country [2] - The accelerated construction of new energy storage stations will help address renewable energy consumption issues and enhance the stability and flexibility of the power grid, supporting the energy transition [2]