电价调整

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加纳电价下月上调1.14%
Shang Wu Bu Wang Zhan· 2025-09-25 17:47
据加纳"乐在线"网9月24日报道,加纳公共事业监管委员会(PURC)宣布,自10月1日起,所有消费 者类别的电价将上调1.14%,水费保持不变。PURC代理执行秘书表示,该决定遵循其季度税费审查机 制,该机制追踪影响公用事业服务成本关键经济因素,这些因素包括加纳塞地兑美元的汇率、国内通货 膨胀、发电结构以及燃料价格,尤其是天然气价格。 (原标题:加纳电价下月上调1.14%) ...
皖能电力(000543):煤价下行带动盈利能力提升,新投产机组贡献增量
Tianfeng Securities· 2025-09-03 07:15
Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5]. Core Views - The company's profitability has improved due to a decline in coal prices, with new power generation units contributing to incremental growth [2][3]. - The overall revenue for the first half of 2025 was 13.185 billion yuan, a decrease of 5.83% year-on-year, while the net profit attributable to the parent company was 1.082 billion yuan, an increase of 1.05% year-on-year [1][3]. Financial Performance Summary - In the first half of 2025, the average price of coal at Qinhuangdao Port was 706 yuan per ton, down 20.43%, leading to a decrease in operating costs to 11.043 billion yuan, a decline of 10.18% year-on-year [3]. - The gross profit margin for the first half of 2025 was 16.25%, an increase of 4.06 percentage points year-on-year, while the net profit margin improved to 12.30%, up 1.65 percentage points year-on-year [3]. - The company completed investment income of 498 million yuan in the first half of 2025, a decrease of 27.31% year-on-year [3]. Revenue and Profit Forecast - The forecasted net profit attributable to the parent company for 2025-2027 is 2.178 billion, 2.336 billion, and 2.508 billion yuan, respectively, with corresponding P/E ratios of 7.55, 7.03, and 6.55 [4]. - The projected revenue for 2025 is 31.316 billion yuan, with a growth rate of 4.06% [4]. Market Context - The weighted average price of electricity in Anhui Province for 2025 was 412.97 yuan per megawatt-hour, a decrease of 5.35% year-on-year, indicating a slight decline in overall electricity prices [2]. - The total electricity generation in Anhui Province for the first half of 2025 was 138.35 billion kilowatt-hours, down 7.9% year-on-year, which may affect the company's existing power generation units [2].