南方区域电力市场交易范围覆盖广东、广西、云南、贵州、海南等地，市场注册主体数量超22万 个。转为连续结算后，预计日均交易规模达到38亿千瓦时；"高峰高价、低谷低价"，市场将释放更 真实、更连续的价格信号，提升电力资源的优化配置效率。 （转自《人民日报》） 28日，经过35个月的前期准备和12轮的短期试运行测试，南方区域电力市场正式转入连续结算试 运行阶段。从之前按周、按月等短期开展交易变成可以每天不间断交易，双方根据需求随时跨省区 买卖电力。这是全国统一电力市场初步建成的重要标志性成果。 根据相关规划，到2025年，全国统一电力市场初步建成，电力市场顶层设计基本完善，实现全国基 础性交易规则和技术标准基本规范统一。 （丁怡婷） ...

2025年7月起施行 全国新规 推动战略性矿产资源 产业优化升级 新修订的矿产资源法7月1日起施行. 明确加大对战略性矿 产资源勘查、开采、贸易、储备等的支持力度,推动战略性 矿产资源增加储量和提高产能,推动战略性矿产资源产业 优化升级。 提升"获得电力" 服务水平 国家发改委、国家能源局联合发文,提出推广主动办电服 务、提升办电便利度等一系列改革措施,持续提升"获得 电力"服务水平,服务经济社会高质量发展。新规自7月1 日起施行。 加强信息披露事务管理 保护投资者合法权益 新版《上市公司信息披露管理办法》7月1日起施行,明确 上市公司应当充分披露可能对公司核心竞争力、经营活动 和未来发展产生重大不利影响的风险因素,便于投资者合 理决策。 药品销售需扫追溯码 厅可进行医院结算 《关于加强药品追溯码在医疗保障和工伤保险领域采集 应用的通知》要求,原则上,7月1日起,销售环节按要求 扫码后方可进行医保基金结算,对此前已采购的无追溯 码药品,列入"无码库"管理,暂可进行医保结算。 加强劳动能力鉴定 便民服务 《劳动能力鉴定管理办法》7月1日起施行,要求加强便民服 多,通过信息共享能够获取的申请材料,不得要求重复提 ...

Group 1 - The next five years mark the beginning of a comprehensive market entry for renewable energy in China, with expectations for continued growth beyond coal-fired power generation capacity [1][11] - China's energy development is transitioning towards a safe, efficient, and clean green direction, with a strong emphasis on reducing carbon emissions [1][3] - The "14th Five-Year Plan" aims for a 13.5% reduction in energy consumption per unit of GDP and an 18% reduction in carbon dioxide emissions [3][4] Group 2 - Despite the acceleration in energy transition, challenges remain, particularly regarding energy security and the "impossible triangle" of energy security, economy, and cleanliness [2] - The transition from energy consumption control to carbon emission control is a significant policy shift, emphasizing the role of carbon emissions in the energy revolution [5][6] - The focus on carbon emissions will facilitate the development of non-fossil energy sources and alleviate constraints faced by enterprises using clean energy [6] Group 3 - By 2025, the proportion of non-fossil energy consumption is expected to reach around 20%, with non-fossil energy generation accounting for approximately 39% of total generation [7][8] - As of July 2024, the installed capacity of wind and solar energy reached 1.206 billion kilowatts, surpassing coal power capacity [8] - The rapid development of renewable energy poses challenges for the energy system, necessitating enhanced flexibility and security measures [8][10] Group 4 - The upcoming five years will see renewable energy fully entering the electricity market, with expectations for continued growth in installed capacity [11][12] - The transition to a carbon emission control system will require significant efforts to manage the increasing pressure on the electricity grid due to higher renewable energy integration [12][13] - Climate change and extreme weather events are becoming critical factors in electricity planning, necessitating a new adaptive planning approach for the energy system [13]

证券研究报告 2025 年 6 月 29 日 湘财证券研究所 行业研究 公用事业行业周报 新疆、蒙西"136 号文"承接方案发布，存量平稳过渡 相关研究： 《广东"136号文"征求意见，增量项 目保障比例不超过90%》 2025.05.18 《1-3月风光新增7433万千瓦，电网投 资延续高增》 2025.04.22 《政府工作报告强调绿色低碳，关注新 能源高质量发展》 2025.03.11 行业评级：增持（维持） 近十二个月行业表现 % 1 个月 3 个月 12 个月 相对收益 -4 3 -15 绝对收益 -2 2 -1 注：相对收益与沪深 300 相比 分析师：孙菲 证书编号：S0500524010002 Tel：(8621) 50293587 Email：sf06902@xcsc.com 地址：上海市浦东新区银城路88号 中国人寿金融中心10楼 核心要点： ❑ 行情回顾：本周公用事业(申万)上涨 0.09%，跑输大盘 1.86 个百分点 根据 wind，截至 6 月 27 日，本周沪深 300 上涨 1.95%，公用事业(申万)上 涨 0.09%，跑输沪深 300 指数 1.86pct，在申万一级行业中 ...

证券研究报告 | 行业周报 gszqdatemark 2025 06 29 年 月 日 电力 光伏 5 月新增装机 93GW，南方区域电力市场启动连续结算 本周行情回顾：本周（6.23-6.27）上证指数报收 3424.23 点，上涨 1.91%，沪深 300 指数报收 3921.76 点，上涨 1.95%。中信电力及公用事业指数报收 2938.75 点，上涨 0.85%，跑输沪深 300 指数 1.10pct，位列 30 个中信一级板块涨跌幅榜 第 27 位。 本周行业观点： 投资建议：""136 号文"催化下今年新能源保持高速增长，电力市场化改革加速推 进，南方区域市场启动连续结算，预期未来电价将体现出更为灵活、反映供需的 涨跌变化。我们认为，随着电力市场化不断加深，辅助服务需求有望进一步提升， 建议重视灵活调节电源配置价值。建议关注季度业绩具备弹性的火电板块：华能 国际、建投能源、华电国际、申能股份、宝新能源；以及火电灵活性改造龙头：青 达环保。推荐关注存量项目占比较高&短期收益确定性更优、以及中长期更具降本 增效优势绿电运营商。推荐布局低估绿电板块，推荐优先关注低估港股绿电以及 风电运营商，建议关注新 ...

梦晨 发自 纽凹非寺 量子位 | 公众号 QbitAI 算力之王 黄仁勋 ，把目光投向了核电！ 英伟达旗下风投部门NVentures，参与了 比尔盖茨创立的核能公司TerraPower 最新一轮6.5亿美元融资， 这是黄仁勋首次涉足核电领域 。 这笔巨额融资将用于建造TerraPower的首座商业核电站，位于美国怀俄明州的 Natrium反应堆 项目。 建成后，这座反应堆将产生 345兆瓦 的电力，加上配套的储能系统，峰值输出功率可达500兆瓦，足以为约 40万户家庭 供电。 参与这轮融资的还有参与投资的还包括韩国现代和比尔盖茨自己。 此前，黄仁勋已在多个场合明确表态支持核能。 核能是供应数据中心庞大电力需求的好选项。 我们需要包括风力发电、太阳能与核能的所有能源，不应该给任何能源贴标签。 近期，OpenAI奥特曼支持的核电公司Oklo也完成4.6亿美元融资。 AI巨头抢电的动作，明显加速了。 TerraPower的Natrium系统集成了一个千兆瓦级的熔盐储能装置，反应堆产生的热量先加热巨大的熔盐罐，需要时再用这些热量发电。 这个储能系统可以在短时间内将电站输出功率从345兆瓦提升至500兆瓦，并持续超过5 ...

央视网消息：南方区域电力市场启动连续结算，市场如何交易？对工商业、电动汽车车主等用户来说，将带来哪些变化？能 否提升新能源的消纳能力？ 在广东广州，一家售电企业正在参与南方区域电力市场的交易，在白天光伏等新能源发电高峰期，采购来自广西、云南等地 价格较低的绿电，用于广东本地制造业的生产。 广东新巨能能源科技有限公司总经理 马博：类似于以前是每个省（区）就开了一个小商铺，但是现在我们变成了五个省 （区）的一个大超市，超市里面的商品更加琳琅满目，我们的选择就会更多。我们也会更多地考虑集中式的风电，还有集中式的 光伏这样的电力去匹配我们用户的绿色电力需求。 电力市场与普通商品一样，分为批发市场和零售市场。用户在零售市场中自主选择售电公司，售电公司通过签约聚合了一定 规模的用户电量，相当于把很多用户的需求"打包"在一起，形成一个大的购买量，然后去找发电企业买电。目前，南方区域电力 市场主体数量突破22万家，10千伏及以上工商业用户也全部参与市场。 因湃电池科技有限公司工程设施高级经理 陈勇：我们可以向省外（接）购买对比广东省内价格更低的电力。同时，因为这些 区域的基本上很多是绿电。给我们降一厘，那全年来讲，意味着我们 ...

Core Viewpoint - The Southern Regional Electricity Market has officially launched its continuous settlement trial operation, marking a significant milestone in the construction of a national unified electricity market in China [1] Group 1: Market Overview - The Southern Regional Electricity Market is the first continuous operation regional electricity market in China, covering five provinces: Guangdong, Guangxi, Yunnan, Guizhou, and Hainan [1] - The market has over 220,000 registered entities, including various power generation sources such as coal, nuclear, gas, renewable, and hydropower, as well as electricity sales companies and users [1] - It is the largest unified clearing electricity spot market globally, with a daily trading volume of 3.8 billion kilowatt-hours, surpassing the combined electricity consumption of the UK, France, and Germany [1] Group 2: Market Development - Since its initial trial operation began in 2022, the Southern Regional Electricity Market has continuously optimized its market mechanism design [1] - A "Joint Conference + Management Committee" management model has been established, along with a "1+N+5X" rule system [1] - The market has undergone four rounds of power adjustment trials and eight rounds of settlement trials, validating its market rules, operational management, and technical support systems comprehensively [1]

Core Viewpoint - The Southern Regional Electricity Market is a significant innovation in optimizing electricity resource allocation across multiple provinces, marking a key step in the construction of a unified national electricity market [2]. Group 1: Market Overview - The Southern Regional Electricity Market is the first continuous operating regional electricity market in China, covering Guangdong, Guangxi, Yunnan, Guizhou, and Hainan, with over 220,000 registered entities including various power generation sources and electricity users [1]. - It is the largest unified clearing electricity spot market globally, with a daily trading volume of 3.8 billion kilowatt-hours, surpassing the combined electricity consumption of the UK, France, and Germany [1]. Group 2: Operational Developments - Since its initial trial operation in 2022, the Southern Regional Electricity Market has continuously optimized its market mechanism design, establishing a "Joint Conference + Management Committee" management model [1]. - A comprehensive rule system "1 + N + 5X" has been constructed, validated through four rounds of power adjustment trials and eight rounds of settlement trials, ensuring the effectiveness of market rules, operational management, and technical support systems [1].

Core Viewpoint - The Southern Regional Electricity Market has officially launched continuous settlement, marking the transition to a normalized operation of China's first multi-provincial electricity spot market, facilitating greater freedom of electricity resource flow across the nation [2][3]. Group 1: Market Overview - The market encompasses five provinces: Guangdong, Guangxi, Yunnan, Guizhou, and Hainan, allowing participation from various energy types including coal, nuclear, renewable, hydro, and gas power [2][4]. - Over 831 power plants and more than 700 users participated in the market on its opening day, with a declared electricity volume of 22 billion kilowatt-hours, including 501 renewable energy stations, setting a new record since the market's inception [2][3]. Group 2: Operational Changes - The market has transitioned from short-term trading (weekly and monthly) to continuous daily trading, enabling real-time cross-province electricity transactions based on demand [2][4]. - The expected average daily trading volume is projected to reach 38 billion kilowatt-hours, enhancing the market's role in electricity resource allocation [2]. Group 3: Technological and Structural Innovations - The market employs a competitive bidding mechanism among different provinces and energy types, promoting fairness and efficiency in resource allocation [3][4]. - Utilizing the domestically developed "Tianquan" solver, the market supports over 6,000 model nodes and more than 1.2 million clearing variables, optimizing pricing and distribution in real-time [3]. Group 4: Regional Integration and Impact - The integration of Hainan into the Southern Regional Electricity Market signifies a milestone in the construction of a unified national electricity market, with over 220,000 registered market entities [4]. - The market's continuous settlement mechanism allows for more flexible and accurate electricity flow between provinces, particularly between Hainan and Guangdong, adapting to the rapid changes in renewable energy consumption [4].