上半年，我省发电量增速较快，四川全口径发电量1630.94亿千瓦时，同比增长5.91%。利用小时数 整体上升，上半年，全省发电平均利用小时数为1655小时，同比增加69小时。 电源发展趋缓，发电能力富余。截至6月底，全省装机容量9864.96万千瓦，较年初增长0.33%。省 调直调机组总装机容量5868.1万千瓦，其中水电占71.3%，火电占21.3%，风电占4.5%，光伏发电占 2.9%。（记者 李欣忆） 记者7月26日从四川电力交易中心获悉，今年上半年，四川全社会用电量1250.66亿千瓦时，同比增 长9.3%，较全国平均水平高出4.3个百分点。增长的主要原因是工业经济走强驱动用电较快上行，以及 年初低温及4月份异常高温天气导致第三产业、居民生活用电快速增长。 ...

Core Insights - The report from the China Electricity Council predicts a 5% year-on-year growth in national electricity consumption for 2025, with an increase in electricity demand expected in Q4 compared to Q3 [1][2] - The total electricity consumption for 2025 is estimated to reach approximately 10.4 trillion kilowatt-hours [1] - The report anticipates a record high of over 500 million kilowatts in new power generation capacity for 2025, with wind and solar power installations expected to exceed 1.8 billion kilowatts [1] Electricity Demand Forecast - The report indicates that the growth rate of electricity consumption in Q4 will be higher than in Q3 due to a low base effect from the previous year [1] - The overall economic stability and growth are expected to support the increase in electricity consumption [1] Electricity Supply Forecast - The total installed power generation capacity is projected to reach around 3.9 billion kilowatts by the end of 2025, representing a year-on-year increase of 16.5% [1] - Wind and solar power installations are expected to account for approximately 46.5% of the total installed capacity by 2025 [1] - The report also highlights that coal-fired power generation will remain significant, with approximately 1.55 billion kilowatts of coal power capacity [1] Winter Peak Demand Analysis - The report forecasts a balanced electricity supply and demand during the winter peak season in 2025, with localized tightness expected in regions such as North and East China [2] - The current coal supply and demand situation is deemed stable, providing a solid foundation for winter supply [2]

Core Insights - The report highlights that the total electricity consumption in society has exceeded 10 trillion kWh, showing a year-on-year growth of 5.0% [2] Industry Performance - The electricity equipment sector has shown significant performance with a 1-month increase of 17.7%, a 3-month increase of 41.0%, and a 1-year increase of 70.0% [2] - The electronics sector has also performed well, with a 1-month increase of 15.7%, a 3-month increase of 52.6%, and a 1-year increase of 118.4% [2] - The communication sector has seen a 1-month increase of 8.4%, a 3-month increase of 59.0%, and a 1-year increase of 114.4% [2] - The non-bank financial sector has underperformed, with a 1-month decrease of 9.5%, a 3-month increase of 6.3%, and a 1-year increase of 34.4% [2] - The defense and military sector has also seen a decline, with a 1-month decrease of 9.0%, a 3-month increase of 12.6%, and a 1-year increase of 49.0% [2] Electricity Generation Insights - In August, the growth rate of industrial wind power accelerated, while hydropower saw a decline, and the growth rates of thermal, nuclear, and solar power generation slowed down [2] - The report recommends focusing on the thermal power sector, highlighting companies such as Huaneng International, Guodian Power, and Baoneng New Energy as potential investment opportunities [2] - For green electricity, the report suggests prioritizing undervalued green electricity stocks and wind power operators, recommending companies like New Energy and Longyuan Power [2] - The hydropower sector is advised to focus on companies like Yangtze Power and State Power Investment Corporation [2] - The nuclear power sector includes recommendations for China National Nuclear Power and China General Nuclear Power [2]

Group 1 - In July, the total electricity consumption in China increased by 8.6% year-on-year, with a significant month-on-month growth of 17.9%, indicating a recovery in electricity demand [1] - The electricity consumption in the primary industry reached 17 billion kWh, growing by 20.2%, while the secondary industry consumed 5,936 billion kWh, growing by 4.7%, and the tertiary industry consumed 2,081 billion kWh, growing by 10.7% [1] - The electricity consumption for urban and rural residents reached 2,039 billion kWh, with a growth rate of 18.0%, driven by high temperatures in July [2] Group 2 - The high-tech and equipment manufacturing sectors saw a 4.6% increase in electricity consumption from January to July, outpacing the overall secondary industry growth by 1.8 percentage points [2] - The internet and related services industry experienced a remarkable 28.2% increase in electricity consumption from January to July, supported by the rapid development of mobile internet, big data, and cloud computing [2] - The electricity consumption in the electric vehicle charging and swapping service industry surged by 42.6% due to the rapid growth of electric vehicles [2] Group 3 - In July, the industrial power generation from large-scale enterprises increased by 3.1% year-on-year, with a daily average generation of 298.9 billion kWh [3] - The growth rate of industrial thermal power generation was 4.3%, which was 3.2 percentage points higher than in June, while hydropower generation saw a decline of 9.8% [3] - Solar power generation in the industrial sector grew by 28.7%, with an acceleration of 10.4 percentage points compared to June [3]

Core Viewpoint - The article highlights the growth in electricity consumption across various sectors in China, indicating a positive trend in economic activity and energy demand [1]. Summary by Sections Overall Electricity Consumption - In May, the total electricity consumption reached 809.6 billion kWh, representing a year-on-year increase of 4.4% [1]. - From January to May, the cumulative electricity consumption was 3,966.5 billion kWh, with a year-on-year growth of 3.4% [1]. Sectoral Electricity Consumption - **Primary Industry**: - Electricity consumption was 11.9 billion kWh in May, up by 8.4% year-on-year [1]. - Cumulative consumption from January to May was 54.3 billion kWh, with a growth of 9.6% [1]. - Notably, the livestock and agriculture sectors showed strong growth, with increases of 15.5% and 7.2%, respectively [1]. - **Secondary Industry**: - May consumption was 541.4 billion kWh, reflecting a 2.1% year-on-year increase [1]. - Cumulative consumption for the first five months was 2,591.4 billion kWh, with a growth of 2.2% [1]. - High-tech and equipment manufacturing sectors led the growth in this category [1]. - **Tertiary Industry**: - In May, electricity consumption reached 155 billion kWh, growing by 9.4% year-on-year [1]. - Cumulative consumption from January to May was 740.6 billion kWh, with a year-on-year increase of 6.8% [1]. - New business models, such as charging and swapping services, experienced significant growth, with a 45.1% increase in electricity consumption [1]. Residential Electricity Consumption - In May, urban and rural residential electricity consumption was 101.3 billion kWh, marking a 9.6% year-on-year increase [1]. - From January to May, residential consumption totaled 580.2 billion kWh, with a growth of 3.7% [1].