关于举办容量电价机制解析及发电企业创收提升培训的通知 各企事业单位： 一、时间及地点 时间：202 6年3月2 7—2 8日 地点：北京 二、组织机构 主办单位：《中国能源报》社有限公司 学术支持：中国能源经济研究院 三、培训对象 《关于加快建设全国统一电力市场体系的指导意见》，提出到2030年，全国统一电力市 场体系基本建成，市场主体平等竞争、自主选择，电力资源在全国范围内得到进一步优化 配置。 《 关 于 完 善 发 电 侧 容 量 电 价 机 制 的 通 知 》 ( 发 改 价 格 〔 2026 〕 11 4 号 ) ， 提 出 分 类 完 善 煤 电、天然气发电、抽水蓄能、新型储能容量电价机制，优化电力市场机制；电力现货市场 连续运行后，有序建立发电侧可靠容量补偿机制，对机组可靠容量根据顶峰能力按统一原 则进行补偿，公平反映不同机组对电力系统顶峰贡献。 电价机制对发电企业投资回报至关重要，为此《中国能源报》社特举办容量电价机制解析 及发电企业创收提升培训，邀请专家对发电侧电价机制进行梳理解读, 帮助各企事业单位 进一步了解全国统一电力市场背景下，发电企业系统性提升总体收益的应对策略。培训完 后发放《中 ...

关于举办容量电价机制解析及发电企业创收提升培训的通知 各企事业单位： 《关于加快建设全国统一电力市场体系的指导意见》，提出到2030年，全国统一电力市 场体系基本建成，市场主体平等竞争、自主选择，电力资源在全国范围内得到进一步优化 配置。 三、培训对象 1、各类型发电公司、售电公司、储能公司以及大型用电用能机构等； 时间：202 6年3月2 7—2 8日 《 关 于 完 善 发 电 侧 容 量 电 价 机 制 的 通 知 》 ( 发 改 价 格 〔 2026 〕 11 4 号 ) ， 提 出 分 类 完 善 煤 电、天然气发电、抽水蓄能、新型储能容量电价机制，优化电力市场机制；电力现货市场 连续运行后，有序建立发电侧可靠容量补偿机制，对机组可靠容量根据顶峰能力按统一原 则进行补偿，公平反映不同机组对电力系统顶峰贡献。 地点：北京 电价机制对发电企业投资回报至关重要，为此《中国能源报》社特举办容量电价机制解析 及发电企业创收提升培训，邀请专家对发电侧电价机制进行梳理解读, 帮助各企事业单位 进一步了解全国统一电力市场背景下，发电企业系统性提升总体收益的应对策略。培训完 后发放《中国能源报》社有限公司中国能源经济 ...

2026年2月26日早盘，截至10:33，国证绿色电力指数上涨0.77%，成分股华银电力上涨10.06%，福能股 份上涨5.72%，广安爱众上涨4.16%，天富能源上涨3.76%，银星能源上涨3.74%。 绿色电力ETF嘉实(159625)紧密跟踪国证绿色电力指数，是布局绿色电力相关上市公司整体表现的便利 工具。 场外投资者可通过对应的绿色电力ETF联接基金（017057）把握投资机会。 长江证券指出，2025年我国电力系统呈现"电量宽松与容量紧张"的结构性矛盾：火电电量近十年首现负 增长，但高峰时期可靠容量需求与调节压力持续上升，倒逼火电新增装机保持高位；与此同时，2026年 用电增速有望回升至5.04%，叠加AI数据中心、工业电气化等新增负荷，绿电供需与盈利恶化态势或将 迎来拐点。政策层面，国家发改委已提出适时建立可靠容量补偿机制，测算落地后2026年全国平均容量 电价折度电电价将提升0.041~0.050元/千瓦时，绿电板块"困境反转"逻辑进一步强化。 数据显示，截至2026年1月30日，国证绿色电力指数前十大权重股分别为中国核电、长江电力、三峡能 源、国投电力、中国广核、川投能源、上海电力、华能水电、 ...

（来源：中国改革报） 转自：中国改革报 广西南宁抽水蓄能电站库区 新华社记者 周华 摄 尤其值得关注的是，114号文首次提出建立电网侧独立新型储能容量电价机制——对服务于电力系统安 全运行、未参与配储的电网侧独立新型储能电站，各地可给予容量电价。对于长期缺乏稳定收益预期的 独立储能行业而言，此番政策"正名"无异于为其发放了一份"保底工资"，彻底破解了行业发展的收益痛 点。 从行业发展态势看，这一制度安排恰逢其时。一方面，独立储能规模已形成产业规模。国家能源局数据 显示，截至2025年底，全国新型储能累计装机达1.36亿千瓦/3.51亿千瓦时，其中独立储能占比为 51.2%，已成为电力系统调节的重要力量。另一方面，独立储能的系统价值已得到验证。2025年，国家 电网经营区新型储能最大放电电力达4453万千瓦，晚高峰平均顶峰时长2.4小时，在电力供需紧张时刻 展现出可靠的支撑能力，其系统调节价值得到充分印证。 尽管发展势头良好，但独立储能仍面临"成长的烦恼"。在《关于深化新能源上网电价市场化改革促进新 能源高质量发展的通知》（以下简称"136号文"）发布前，独立储能的收入包括容量租赁、电能量交 易、辅助服务，以及 ...

国家发改委、国家能源局近日发布《关于完善发电侧容量电价机制的通知（发改价格〔2026〕114号)》（以下简称《通知》），明确 提出分类完善煤电、天然气发电、抽水蓄能、新型储能容量电价机制，优化电力市场机制；电力现货市场连续运行后，有序建立发电侧 可靠容量补偿机制，对机组可靠容量根据顶峰能力按统一原则进行补偿。《通知》还首次在国家层面明确对独立新型储能容量电价的支 持政策。 这一重磅《通知》被视为电改的关键一步。目前，上网电价体系由电能价格、辅助服务价格和容量价格组成，前两年电改重点旨在通过 市场化手段解决电能如何出售，《通知》出台则标志着我国在解决"电力系统够不够稳" "备用电源能不能留住"的关键问题上，搭建起完 整拼图。 《关于完善发电侧容量电价机制的通知》被视为电改的关键一步，其出台则标志着我国在解决"电力系统够不够稳" "备用电源能不能 留住"的关键问题上，搭建起完整拼图。 解决现行容量电价机制遇到的新问题 国家发改委、国家能源局相关负责人向《中国能源报》记者解释，现行容量电价机制遇到一些新问题：一是部分地区煤电发电小时数快 速下降，现行容量电价水平保障力度出现不足苗头；二是现行抽水蓄能容量电价机制对企 ...

Core Viewpoint - The inclusion of new energy storage in the capacity price mechanism marks the formation of a complete revenue landscape for independent new energy storage, with 2026 expected to be the year of market-oriented development for independent new energy storage [1][3]. Group 1: Capacity Price Mechanism - The National Development and Reform Commission and the National Energy Administration have introduced a new capacity price mechanism that includes new energy storage stations, allowing them to earn fixed revenue [2][3]. - A typical 100MW energy storage station can earn over 10 million yuan under the capacity price mechanism [4][16]. - The capacity price mechanism is shifting from a fixed income model to one that considers market dynamics, requiring energy storage stations to enhance operational capabilities and technology to maximize earnings [5][7][19]. Group 2: Market Dynamics and Competition - The energy storage industry has faced irrational price wars, leading to a focus on cost-cutting that jeopardizes long-term operational efficiency and safety [5][20]. - The new capacity price mechanism encourages energy storage companies to invest in research and development, transitioning the industry from a scale-driven model to one focused on technology and reliability [5][20]. - The demand for flexibility in the power system is increasing due to the rapid growth of renewable energy installations, necessitating a robust energy storage capacity [9][10]. Group 3: Future Projections and Requirements - By 2030, approximately 300GW of new energy storage capacity will be needed to meet the power system's requirements [10]. - The capacity price mechanism will evolve to reflect regional reliability capacity rather than a national benchmark, emphasizing the importance of stable power supply during peak periods [7][8]. - The quality of energy storage systems will be critical for earning capacity payments, with a focus on high-quality equipment and operational efficiency [18][20].

即使在假期，上周末（1月31日至2月1日），储能开发商依然在加急备案储能电站开发项目。 这是因为在1月30日晚间，国家发展改革委、国家能源局发布《关于完善发电侧容量电价机制的通知》（下称"114号文"），重新制定了煤电机组和抽水蓄能 机组的容量电价机制，明确省级价格主管部门可对天然气发电建立容量电价机制，并首次将新型储能电站纳入容量电价机制。 在容量电价机制下，煤电机组、抽水蓄能机组等可根据成本获得一定固定收益，以补偿其在支撑电网稳定安全运行中发挥的作用。容量电费将计入电网系统 运行费之中。 新型储能电站纳入容量电价机制后，意味着其也能获得一定程度的固定收益。 "新型储能纳入容量电价机制，标志着独立新型储能完整收益版图成型。通过电能量、辅助服务、容量电价三大受益板块协同发力，2026年将成为独立新型 储能市场化发展元年。"中关村储能产业技术联盟副秘书长李臻说。 根据已发布的相关政策，一个典型100MW储能电站，在容量电价机制下可获利超过千万元。 但业内人士也向记者表示，根据114号文内容，储能电站并不能"躺平"，反而需要进一步提升自身运营能力和技术水平，才能"赚到这笔钱"。 远景能源高级副总裁田庆军表示，过去 ...

Core Viewpoint - The introduction of the capacity pricing mechanism for power generation marks a significant policy shift in China's energy sector, aiming to enhance the stability and reliability of the power supply while supporting the green energy transition [1][2][3]. Group 1: Policy Overview - The National Development and Reform Commission and the National Energy Administration issued the "Notice on Improving the Capacity Pricing Mechanism for Power Generation," which categorizes and improves the pricing mechanisms for coal, natural gas, pumped storage, and new energy storage [1]. - The policy integrates natural gas power generation and grid-side independent new energy storage into a unified capacity pricing framework, creating a comprehensive system for various regulatory power sources [1][2]. - The initiative aims to establish a reliable capacity compensation market that ensures "equal pay for equal work" among different energy sources, thereby enhancing the security of power supply [1][3]. Group 2: Capacity Pricing Mechanism - The capacity pricing mechanism is designed to pay for the available generation capacity of power sources rather than just the actual electricity generated, focusing on the ability to provide power during peak demand [2][4]. - The current challenges faced by the existing capacity pricing mechanism include inconsistencies in pricing principles across regions, which hinder fair competition in the market [2][3]. - The new policy aims to adapt to the requirements of a new power system and market structure, ensuring better stability and safety in power supply while facilitating a low-carbon energy transition [2][3]. Group 3: Impact on New Energy Storage - The 114 document fills the policy gap for new energy storage in the capacity mechanism, allowing it to compete on equal footing with coal and pumped storage in the electricity market [3][6]. - The capacity pricing level for independent new energy storage will be determined based on local coal power capacity pricing standards, adjusted according to peak capacity contributions [4][5]. - The introduction of a dual-driven model combining capacity pricing and market revenue is expected to stabilize the revenue structure for new energy storage projects [5][6]. Group 4: Regional Variations and Implementation - The implementation of the capacity pricing mechanism may vary across provinces, influenced by local renewable energy ratios, load characteristics, and transmission conditions [5][6]. - Differences in pricing logic, assessment standards, and cost-sharing mechanisms across regions will affect the feasibility and effectiveness of the capacity pricing policy [5][6]. - Local governments are encouraged to plan and manage various regulatory resources effectively, ensuring that the benefits of the policy are directed towards reliable and high-quality storage projects [7].

Industry Investment Rating - The industry investment rating is maintained at "Outperform the Market" [2] Core Viewpoints - The report highlights the acceleration of the capacity market establishment, emphasizing investment opportunities in regulating resources [5][9] - The National Development and Reform Commission and the National Energy Administration have issued a notice to improve the capacity pricing mechanism for power generation, which includes coal, natural gas, pumped storage, and new energy storage [5][6] - The report suggests that the capacity price for coal power will increase, while pumped storage will face differentiation pressure in the long term [8] Summary by Relevant Sections Industry Basic Situation - The closing index is at 10,412.19, with a 52-week high of 11,060.52 and a low of 6,107.84 [2] Investment Highlights - The establishment of a reliable capacity compensation mechanism is a transitional measure, which will be implemented after the continuous operation of the electricity spot market [7] - The compensation standard will be based on the fixed costs that cannot be recovered in the energy and ancillary services markets [7] Investment Recommendations - The report recommends focusing on companies involved in energy storage, such as Haibo Shichuang, and gas power companies like Shanghai Electric and Dongfang Electric [9]

Summary of Conference Call on National Capacity Pricing Policy and Its Impact on Energy Storage Sector Industry Overview - The conference call focused on the national capacity pricing policy recently introduced by the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) in China, specifically its implications for the energy storage sector [1][2]. Key Points and Arguments Capacity Pricing Policy - The capacity pricing policy is designed to provide compensation based on specific capacity rather than energy pricing, addressing the issue of fixed cost recovery for power generation units [1][2]. - The policy aims to ensure sufficient effective capacity in the new power system while reflecting supply and demand in the electricity market [2][4]. Mechanisms for Cost Recovery - Three main mechanisms for capacity cost recovery were discussed: 1. Non-market-based capacity pricing set by the government. 2. Market-based capacity markets, including centralized auctions and bilateral contracts. 3. Strategic reserve mechanisms, which are not currently implemented in China [3][4]. Key Components of the Policy - The policy introduces three main concepts: capacity pricing, reliable capacity compensation mechanism, and capacity market [4][5]. - The capacity pricing mechanism has been evolving since 2021, with specific policies for different power sources, including coal and gas [5][6]. Coal and Pumped Storage Pricing - The capacity price for coal power units is set to increase from a recovery ratio of 30% to at least 50% by 2026, with a base price of 165 RMB per kW per year [6][9]. - The pumped storage pricing mechanism has been refined to ensure that new projects can recover costs effectively, with a focus on standardizing pricing across provinces [8][9]. New Energy Storage Capacity Pricing - A significant aspect of the policy is the establishment of an independent capacity pricing mechanism for grid-side energy storage, marking a shift from exploratory language to a definitive commitment [17][19]. - The compensation for energy storage will be based on reliable capacity, distinct from energy and ancillary service compensation [16][19]. Market Optimization - The policy aims to optimize the electricity market by allowing various entities, including wind and emerging storage technologies, to participate fairly [11][12]. - Adjustments to long-term electricity pricing mechanisms are intended to enhance market dynamics and reflect real-time supply and demand [13][14]. Additional Important Insights - The capacity pricing policy is expected to catalyze investment in energy storage, particularly as it aligns with the broader marketization of electricity [21][22]. - The anticipated growth in energy storage demand is driven by increasing shares of renewable energy generation and the evolving electricity market mechanisms [24][25]. - The competitive landscape for energy storage is becoming more complex, with regional disparities in growth and supply chain dynamics [26][27]. - The expected annual growth rate for the energy storage market in China is projected to be around 20-25% over the next five years, with significant contributions from various regions [28][29]. Conclusion - The national capacity pricing policy represents a pivotal shift in China's energy market, providing a structured framework for cost recovery and compensation for energy storage and generation units. This is expected to enhance investment and participation in the energy storage sector, ultimately supporting the transition to a more sustainable energy system [20][37].