2025.08. 06 本文字数：1675，阅读时长大约3分钟 作者 | 第一财经 郭霁莹 为加强自然垄断环节价格监管，提升天然气管道运输效率，国家发改委、国家能源局近日发布《关于 完善省内天然气管道运输价格机制促进行业高质量发展的指导意见》（下称"《意见》"）。 《意见》明确，省内天然气管道运输价格由省级发展改革部门通过核定准许成本、监管准许收益确定 准许收入，同时向分区定价或全省统一价格过渡。要求综合施策推动压缩供气环节，减少层层加价， 降低下游用气成本。鼓励上游供气企业与城镇燃气企业、大用户开展直购直销。要求各省尽快制定完 善省内天然气管道运输价格管理办法，明确价格机制改革过渡期和过渡方式。 "意见的核心目标是建立科学、透明、高效的管道运输价格形成机制， 解决行业长期存在的价格机制 不统一、成本传导不畅、资源配置低效等问题 。"清燃智库总经理兼首席信息官黄庆告诉第一财经记 者，新规遵循"管住中间、放开两头" 原则，既对具有自然垄断属性的中间管道运输环节实施严格的 政府定价监管，也推动了上游气源采购和下游终端销售的市场化改革，最终建立"管输服务高效透 明、气源采购充分竞争、终端消费公平普惠"的天然气产业生 ...

为加强自然垄断环节价格监管，提升天然气管道运输效率，国家发改委、国家能源局近日发布《关于完 善省内天然气管道运输价格机制促进行业高质量发展的指导意见》（下称"《意见》"）。 行业人士认为，这将直接推动省内管输费下降。据张樨樨和东吴证券研究所分析师袁理等人测算，以10 年期国债收益率约2%计算，省内管输准许收益率在6%左右，明显低于国内大部分跨省管输准许的 7%-8%收益率。"由此，中游管输环节将告别垄断利润，转向精细化运营和服务竞争，加速行业洗牌； 下游终端用户将直接享受成本下降红利，需求潜力进一步释放。"黄庆说。 此外，《意见》还强调优化管道规划和投资管理，减少供气环节，鼓励上游供气企业与城燃企业、大用 户开展直购直销。对没有实质性管网投入、不提供必要管道运输服务的"背靠背"分输站等供气环节，加 大力度清理取消。 在行业人士看来，中游成本监审与冗余环节清理带来的直接结果是管输价格下降，从而带动终端销售价 格下滑，缓解下游用气成本压力。袁理分析称，减少供气环节有利于下游城燃企业修复对居民用户售气 的价差。他表示，当前下游城燃仍处于居民顺价周期，2022年至今年7月，全国187个（占比64%）地级 以上城市进行 ...

Core Viewpoint - The recent guidelines aim to systematically restructure the natural gas industry chain's profit distribution and behavioral rules through a pricing mechanism, allowing downstream gas users to benefit from reduced pipeline transportation costs [1][2]. Pricing Mechanism - The guidelines establish a unified pricing model for provincial natural gas pipeline transportation, transitioning from "one line one price" and "one enterprise one price" to either zonal pricing or a unified provincial price [3]. - The pricing will be determined by provincial development and reform departments based on permitted costs and regulated returns, promoting a reduction in gas supply costs by compressing supply chain layers [1][5]. Regulatory Framework - The core objective is to create a scientific, transparent, and efficient pricing mechanism to address long-standing issues such as inconsistent pricing, poor cost transmission, and inefficient resource allocation in the industry [2]. - The guidelines emphasize strict government pricing regulation for the natural monopoly of pipeline transportation while promoting market-oriented reforms for upstream gas sourcing and downstream sales [2]. Cost Structure and Impact - The pricing will be based on the "permitted cost plus reasonable return" method, with pipeline asset depreciation set at 40 years and permitted return rates not exceeding the 10-year government bond yield plus 4 percentage points [5]. - This approach is expected to lower provincial pipeline transportation fees, with estimates suggesting a permitted return rate around 6%, significantly lower than the 7%-8% rates for most cross-provincial pipelines [5]. Market Dynamics - The reduction in midstream costs and the elimination of redundant supply chain layers are anticipated to lead to lower transportation prices, subsequently decreasing end-user gas prices and alleviating cost pressures on downstream users [6]. - The new regulations are expected to enhance market vitality for end-user gas consumption and improve demand-side management for city gas companies, allowing large users to bypass distribution channels and directly access pipeline gas sources [6].

行业报告 | 行业点评 石油石化 证券研究报告 《完善省内天然气管输价格机制》指导意见出台，或 有利于下游城燃公司降本 国家发改委、能源局发布省内天然气管输指导意见 2025 年 8 月 1 日，国家发展改革、国家能源局发布《关于完善省内天然气 管道运输价格机制促进行业高质量发展的指导意见》。《指导意见》的推出贯 彻落实了党的二十届三中全会精神和党中央、国务院关于深化石油天然气市 场体系改革、完善价格治理机制的决策部署，有利于加强自然垄断环节价格 监管，提升天然气管道运输效率，促进行业高质量发展。 《指导意见》要求各地完善省内天然气管道运输价格机制 明确省内天然气管道运输价格由省级发展改革部门制定，原则上不再下放定 价权限。 明确实行统一定价模式，由"一线一价"、"一企一价"向分区定价或全省统 一价格过渡，实现与跨省天然气管道运输价格机制有效衔接，助力形成"全 国一张网"。根据发改委规定，目前我国跨省天然气管道运输价格已经从 2024年起执行"一区一价"，即核定西北价区运价率为0.1262元/千立方米·公 里（含 9%增值税，下同），东北价区运价率为 0.1828 元/千立方米·公里，中 东部价区运价率为 0 ...

Core Viewpoint - The document outlines guidelines for improving the pricing mechanism of natural gas pipeline transportation within provinces, aiming to enhance industry efficiency and promote high-quality development [3]. Group 1: Pricing Authority and Model - Provincial development and reform departments are responsible for setting natural gas pipeline transportation prices, with no further delegation of pricing authority [4]. - A unified pricing model will be implemented, transitioning from "one line one price" and "one enterprise one price" to either zonal pricing or a province-wide uniform price, facilitating integration with inter-provincial pricing mechanisms [5]. Group 2: Price Level Determination - Pricing will be based on a "permitted cost plus reasonable return" method, with a focus on cost monitoring and considering gas throughput to determine transportation prices [6]. - The depreciation period for pipeline assets is set at 40 years, and the permitted return rate should not exceed the 10-year government bond yield plus 4 percentage points [6]. - A regulatory cycle for price adjustments is established at three years, with provisions for early reviews if significant changes occur [7]. Group 3: Pipeline Planning and Investment Management - Provinces are encouraged to enhance the management of natural gas pipeline construction and operation, ensuring economic viability and efficient operation [8]. - Investment projects must be carefully reviewed to avoid unnecessary intermediate links and ensure effective resource utilization [9]. Group 4: Reducing Supply Chain Costs - Efforts will be made to evaluate and compress supply chain costs, encouraging direct purchasing between upstream suppliers and end-users [10]. - The document emphasizes the need to eliminate unnecessary supply chain layers and regulate service pricing strictly [10]. Group 5: Market Order Regulation - Pipeline operators must adhere to government pricing policies and avoid circumventing regulations through alternative fees [11]. - The document mandates fair access to pipeline facilities and outlines the need for strict supervision of pricing practices to maintain market order [11]. Group 6: Implementation and Monitoring - Provinces are required to compile a comprehensive list of natural gas pipelines subject to government pricing and continuously update it [12]. - A systematic evaluation of pipeline planning and pricing management will be conducted to ensure compliance with the new guidelines [12].

经济观察网据国家发改委网站，8月1日，国家发展改革委、国家能源局发布《关于完善省内天然气管道 运输价格机制促进行业高质量发展的指导意见》。其中提到，省内天然气管道运输价格应当实行统一定 价模式，由"一线一价"、"一企一价"向分区定价或全省统一价格过渡，实现与跨省天然气管道运输价格 机制有效衔接，助力形成"全国一张网"。过渡期内可采取制定标杆价格等方式，引导管道经营企业优胜 劣汰、资源整合，提升管网运行效率。 ...

8月1日，国家发改委、国家能源局发布《关于完善省内天然气管道运输价格机制促进行业高质量发展的 指导意见》，其中指出，省内各级天然气管道（不含企业内部自用管道）运输价格由省级发展改革部门 制定，原则上不再下放定价权限。已经纳入国家统一定价的跨省天然气管道系统省内段及配套支线，省 级发展改革部门不再重复定价。省内天然气管道运输价格应当实行统一定价模式，由"一线一价"、"一 企一价"向分区定价或全省统一价格过渡，实现与跨省天然气管道运输价格机制有效衔接，助力形成"全 国一张网"。过渡期内可采取制定标杆价格等方式，引导管道经营企业优胜劣汰、资源整合，提升管网 运行效率。 原文如下： 国家发展改革委 国家能源局关于 完善省内天然气管道运输价格机制 促进行业高质量发展的指导意见 发改价格〔2025〕1014号 各省、自治区、直辖市、新疆生产建设兵团发展改革委、能源局，国家能源局各派出机构，国家石油天 然气管网集团有限公司： 为贯彻落实党的二十届三中全会精神和党中央、国务院关于深化石油天然气市场体系改革、完善价格治 理机制的决策部署，加强自然垄断环节价格监管，提升天然气管道运输效率，促进行业高质量发展，现 就完善省内天然气 ...

Core Viewpoint - The National Development and Reform Commission (NDRC) and another department have issued guidance on improving the pricing mechanism for domestic natural gas pipeline transportation, aiming to promote high-quality industry development [1] Pricing Mechanism - Natural gas pipeline transportation prices at the provincial level will be set by provincial development and reform departments, with pricing authority not delegated further [1] - For cross-provincial natural gas pipeline systems and associated branch lines already under national unified pricing, provincial departments will not set prices again [1] - A unified pricing model will be implemented for domestic natural gas pipeline transportation, transitioning from "one line one price" and "one enterprise one price" to either zonal pricing or a province-wide uniform price [1] Industry Efficiency - The new pricing mechanism aims to effectively connect with the cross-provincial natural gas pipeline pricing system, contributing to the formation of a "national network" [1] - During the transition period, benchmark pricing may be established to guide pipeline operating companies towards better competition, resource integration, and enhanced pipeline operation efficiency [1]