"您好，快充在这边，请往这边开。"4月27日，在兰州新区经七路新能源汽车充电桩旁，兰州新区公司工作人员张泽涛、张立新正热情引导前来"补给粮 草"的自驾游新能源车主前往空位的充电桩，悉心为他们提供充电指导，保障续航顺畅无忧。 在风和景明的"五一"节前，人们外出探亲访友、休闲度假等需求更加频繁，交通出行更为密集，为满足新能源车主出行充电便捷顺畅，该公司提前谋划部 署，全面排查境内充电桩安全隐患，确保广大新能源车主愉快低碳绿色出行。 据了解，为缓解五一期间高速服务区充电难问题，该公司在节前仔细检查充电桩外壳有无接地、充电桩内部接线是否烧灼、松动，充电电流电压是否正常， 同时还对充电枪、显示屏及专用供电设施和消防设备等进行全面"问诊"，及时消除用电安全隐患。 "这里车位、充电桩都很方便，扫码充上电后，我和家人们将继续前往下一站游玩。"刚刚结束车辆充电，选择错峰出行的游客朱先生感慨地对在此服务的该 公司市场班工作人员张泽涛他们说道："真的要感谢你们的暖心服务，我们是从临夏自驾游过来的，车子充电量大，五一期间，有了你们提前检查充电桩， 在街头服务区能及时充上电，不耽误我们赶路，真是太方便了。" 为做好"五一"期间充电保障 ...

Investment Rating - The report does not explicitly provide an investment rating for the electricity distribution industry Core Insights - The operations concession model is presented as a viable alternative to full privatization, allowing for private sector efficiencies while retaining government ownership of assets [22][25] - The report emphasizes the importance of private sector participation (PSP) in improving operational performance and addressing challenges faced by state-owned utilities [15][20] - Case studies from Côte d'Ivoire and India illustrate the successful implementation of operations concessions, highlighting the model's adaptability to local contexts [58] Summary by Sections 1. Introduction - The report discusses the historical context of power sector reforms initiated in the 1990s, aimed at creating commercially viable utilities through restructuring and private sector involvement [13][14] 2. The Operations Concession Model in Electricity Distribution - The operations concession model allows a private concessionaire to manage electricity distribution while the public utility retains ownership and responsibility for power procurement [27] - A comparison of various private sector participation models indicates that operations concessions provide a balanced risk allocation between public and private sectors [40][41] 3. Case Studies: Existing Operations Concessions - Côte d'Ivoire's concession model evolved from a public utility to a private operator, demonstrating the effectiveness of the operations concession in managing electricity distribution [59][60] - India’s input-based distribution franchises serve as another example of successful operations concessions, showcasing the model's flexibility [58] 4. Structuring Options and Parameters for Operations Concessions - Key parameters for structuring operations concessions include setting performance targets, treatment of assets, and regulatory oversight [4][38] - The remuneration model for concessionaires typically includes compensation for operations and maintenance costs, with performance incentives linked to operational improvements [38][72] 5. Limitations and Extensions - The report notes that while operations concessions can improve efficiency, they should be part of a broader reform strategy to address systemic issues in the electricity sector [52][53]

Group 1 - The core viewpoint highlights the significant growth in the Green Power ETF, with a trading volume of 5.68% and a transaction value of 21.79 million yuan, indicating strong liquidity [3] - The Green Power ETF has seen a scale increase of 38.63 million yuan and a share increase of 30.40 million shares since the beginning of the month, reflecting substantial growth [3] - Over the past 18 trading days, the Green Power ETF has attracted a total of 36.26 million yuan in inflows, showcasing its appeal to investors [3] Group 2 - The valuation of the Green Power ETF, tracking the National Green Power Index, has a latest price-to-earnings ratio (PE-TTM) of 18.28, which is at a historical low, being below 88.56% of the time over the past three years [3] - As of March 31, 2025, the top ten weighted stocks in the National Green Power Index include major companies such as Yangtze Power, China Nuclear Power, and Three Gorges Energy, collectively accounting for 57.21% of the index [3] Group 3 - The State Council's recent meeting approved several nuclear power projects, including the Zhejiang Sanmen Phase III and others, totaling five projects and ten new units, indicating a strong governmental push for nuclear energy [3] - Huafu Securities emphasizes the unmatched advantages of nuclear power in addressing global climate change and energy security, expressing optimism for companies with leading positions or key component production capabilities in the nuclear sector [4]

Exhibit 99.2 Portland General Electric EARNINGS CONFERENCE CALL FIRST QUARTER 2025 Cautionary statement Information Current as of April 25, 2025 Except as expressly noted, the information in this presentation is current as of April 25, 2025 – the date on which PGE filed its Annual Report on Form 10-Q for the quarter ended March 31, 2025 - and should not be relied upon as being current as of any subsequent date. PGE undertakes no duty to update this presentation, except as may be required by law. Forward-Loo ...

Portland General Electric Company (NYSE:POR) Q1 2025 Earnings Conference Call April 25, 2025 11:00 AM ET Company Participants Nick White - Manager, Investor Relations Maria Pope - President and Chief Executive Officer Joe Trpik - Senior Vice President, Finance and Chief Financial Officer Conference Call Participants Julien Dumoulin-Smith - Jefferies Michael Lonegan - Evercore ISI Richard Sunderland - JPMorgan Nathan Richardson - Barclays Anthony Crowdell - Mizuho Gregg Orrill - UBS Operator Good morning, ev ...

PPL Corporation (PPL) is expected to report an improvement in its top line and a decline in its bottom line when it reports first-quarter 2025 results on April 30, before market open. (See the Zacks Earnings Calendar to stay ahead of market-making news)The Zacks Consensus Estimate for PPL’s first-quarter revenues is pegged at $2.38 billion, indicating growth of 3.4% from the year-ago reported figure.The Zacks Consensus Estimate for earnings is pegged at 55 cents per share. The Zacks Consensus Estimate for P ...

Pinnacle West Capital Corporation (PNW) is scheduled to release first-quarter 2025 results on May 1, before market open. The company delivered an earnings surprise of 60% in the last reported quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.)Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Major Factors That Might Have Impacted PNW's Q1 PerformancePinnacle West Capital’s top-line performance is expected to have continued to benefit from ...

First quarter financial results reflect strong energy demand from high-tech and data centers, which drove total quarter-over-quarter load growth of 4.6% and 16.4% industrial load growth Reaffirming 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share PORTLAND, Ore., April 25, 2025 /PRNewswire/ -- Portland General Electric Company (NYSE: POR) today reported net income based on generally accepted accounting principles (GAAP) of $100 million, or $0.91 per diluted share, for the first quarter o ...

CenterPoint Energy, Inc. (NYSE:CNP) Q1 2025 Earnings Conference Call April 24, 2025 8:00 AM ET Company Participants Jackie Richert - SVP, Corporate Planning, IR and Treasurer Jason Wells - CEO Chris Foster - CFO Conference Call Participants Constantine Lednev - Guggenheim Securities Nicholas Campanella - Barclays Durgesh Chopra - Evercore ISI Steven Fleishman - Wolfe Research Julien Dumoulin-Smith - Jefferies Jeremy Tonet - JPMorgan David Arcaro - Morgan Stanley Andrew Weisel - Scotiabank Operator Good morn ...

PG&E Corporation (NYSE:PCG) Q1 2025 Earnings Conference Call April 24, 2025 11:00 AM ET Company Participants Jonathan Arnold - Vice President, Investor Relations Patti Poppe - Chief Executive Officer Carolyn Burke - Executive Vice President & Chief Financial Officer Conference Call Participants Nicholas Campanella - Barclays Constantine Lednev - Guggenheim Partners Richard Sunderland - JPMorgan Securities LLC Julien Dumoulin-Smith - Jefferies Anthony Crowdell - Mizuho Carly Davenport - Goldman Sachs Ryan Le ...