围绕项目全生命周期管理，会议要求严格落实政府投资项目全过程管控，做到规划有安排、投资有必 要、资金有来源、成本可管控、运营可持续，坚决守住安全、环保、债务风险底线，提升项目质量与投 资效益。 2月24日春节后首个工作日，省政府召开"重大项目建设年"活动暨"两重""两新"工作推进会，对全年项 目建设、投资稳增长、转型发展进行再动员、再部署。省委副书记、省长卢东亮主持会议并讲话，强调 以高水平项目建设支撑高质量发展，确保实现一季度"开门红"，为"十五五"良好开局筑牢坚实支撑。董 晓宇、汪海洲、汤志平、景普秋、朱晓东等省领导出席会议。 会议指出，2026年是"十五五"开局之年，开展"重大项目建设年"是山西扩内需、稳增长、促转型的关键 抓手。全省上下迅速收心归位、进入状态，立足资源型经济转型综改试验区定位与能源革命综合改革试 点使命，把项目建设作为经济工作的主战场，以投资提质增效带动产业升级、动能转换、民生改善。 会议明确，要锚定目标、细化举措，优化实施"两重"项目、"两新"政策，聚焦国家战略与本省优势领域 系统谋划项目储备，精准开展招商引资，推动审批流程全面提速，强化土地、能耗、资金等要素非均衡 支持与竞争性配置， ...

推动"十五五"初步建成新型能源体系 国家能源局发展规划司司长 任育之 能源是经济社会发展的重要物质基础。党的二十大首次提出加快规划建设新型能源体系，二十届四中全 会进一步明确"十五五"初步建成新型能源体系、建设能源强国，这是党中央深刻把握全球能源发展大 势、立足我国能源发展方位作出的新部署新要求，为能源发展提供了根本遵循和行动纲领。过去一年， 我们全力推动"十四五"能源规划收官，谋划"十五五"能源发展方向路径，统筹推进《新型能源体系建 设"十五五"规划》研究编制工作。 扎实推进"十五五"新型能源体系建设 2026年是"十五五"规划开局之年，我们将发布实施新型能源体系和系列分领域能源规划，深入践行能源 安全新战略，加快建设新型能源体系，推进能源强国建设，为基本实现社会主义现代化取得决定性进展 提供坚强能源支撑。 回顾过去5年，我们着力完善定位准确、边界清晰、功能互补、统一衔接的能源规划体系，推动形成能 源规划"全国一盘棋"，更好发挥能源规划对能源发展的引领、指导和规范作用。推动出台《中华人民共 和国能源法》，修订出台《能源规划管理办法》，完善规划实施机制，开展规划实施动态监测和评估调 整，加强地方落实国家能源规 ...

国家能源局发展规划司司长 任育之 能源是经济社会发展的重要物质基础。党的二十大首次提出加快规划建设新型能源体系，二十届四中全 会进一步明确"十五五"初步建成新型能源体系、建设能源强国，这是党中央深刻把握全球能源发展大 势、立足我国能源发展方位作出的新部署新要求，为能源发展提供了根本遵循和行动纲领。过去一年， 我们全力推动"十四五"能源规划收官，谋划"十五五"能源发展方向路径，统筹推进《新型能源体系建 设"十五五"规划》研究编制工作。 "十四五"能源规划圆满收官 在"四个革命、一个合作"能源安全新战略指引下，我们统筹能源高质量发展和高水平安全，推动"十四 五"能源规划确定的14项主要指标、19项重大战略任务、34类重大工程如期完成，为新型能源体系建设 奠定坚实基础。 推动"十五五"初步建成新型能源体系 不确定因素增多对能源安全带来更大挑战。从国际看，世界变乱交织、动荡加剧，能源成为战略竞争焦 点。全球能源贸易阵营化趋势更加明显，围绕资源权、通道权和市场权的竞争日趋激烈，我国部分能源 资源进口面临更大不确定性。与此同时，国际油气供需总体宽松、价格下行，有利于我国更好统筹国内 国际两个市场两种资源。从国内看，经济社 ...

据国家能源局消息，国家能源局规划司司长任育之表示，科技创新为新质生产力发展注入更强动能。从 国际看，世界主要国家加强能源科技战略布局，能源科技创新进入密集活跃期，主要国家加大氢能、固 态电池、先进核电、海洋能等前沿技术研发应用，人工智能成为重塑国际能源格局的新变量，有望驱动 能源生产、传输和消费方式系统性变革。从国内看，我国能源科技总体进入并跑为主、部分领跑的关键 阶段，一大批新技术新产业蓬勃兴起，新能源、新型储能等技术保持世界领先。但与此同时，仍面临原 始创新能力不足、部分关键核心技术和装备存在短板、产学研用协同创新有待加强等问题。 ...

●贺立龙 强大国内市场是推进中国式现代化的战略依托。当前我国内需扩张的内涵发生深刻变化，亟须推动消费 结构优化和动力升级，不断形成扩大内需的新增长点。 人民至上引领的新内需动能 坚持人民至上，是"十五五"时期经济社会发展必须遵循的一项原则。《建议》强调，注重在发展中保障 和改善民生，在满足民生需求中拓展发展空间。内需扩容升级，本质上是人民美好生活需要的有形投射 与具象化满足。人民对更优质教育、更可靠医疗、更舒适居住、更丰富文化生活的向往，是内需扩张的 根本源泉。扩大内需必须与加大保障和改善民生力度同向而行。促进高质量充分就业，办好人民满意的 教育，切实提高居民可支配收入水平等，将为内需增长筑就坚实微观基础。 绿色转型催生的新投资赛道 习近平总书记指出，"绿水青山就是金山银山"。在"双碳"目标下，人民群众的绿色环境需求与国家层面 的能源安全要求，共同推动绿色转型从成本约束全面转向增长引擎，并催生出兼具巨大社会价值与长期 资本回报的新投资赛道。绿色新增长点的核心在于对传统能源系统和生产模式的系统性替代与升级。其 中，新型储能是解决新能源消纳难题、保障电网安全的关键环节。据国家能源局数据，截至2024年底， 全国已 ...

Core Viewpoint - The Inner Mongolia Energy Bureau has announced the approval of the power supply plans for the Kubuqi to Shanghai and Kubuqi to Jiangsu Shagehuang bases by the National Energy Administration, with construction of supporting coal power expected to commence by the end of 2026 [1] Group 1: Project Details - The Kubuqi to Shanghai base will feature the construction of 8 million kilowatts of solar power, 4.5 million kilowatts of wind power, 2.64 million kilowatts of supporting coal power, and 900 megawatt-hours of new energy storage, with a total investment of approximately 63.2 billion yuan [1] - The Kubuqi to Jiangsu base will include 8 million kilowatts of solar power, 4 million kilowatts of wind power, 2.64 million kilowatts of supporting coal power, and 816 megawatt-hours of new energy storage, with a total investment of around 64.2 billion yuan [1]

Core Viewpoint - The energy projects in the Kubuqi Desert region are making significant progress, with plans for substantial renewable energy and coal power generation to support electricity supply to East China by the end of 2026 [1] Group 1: Project Details - The Kubuqi power transmission project to Shanghai plans to construct 8 million kilowatts of solar power, 4.5 million kilowatts of wind power, 2.64 million kilowatts of coal power, and 900 megawatt-hours of new energy storage, with a total investment of approximately 63.2 billion yuan [1] - The Kubuqi power transmission project to Jiangsu plans to build 8 million kilowatts of solar power, 4 million kilowatts of wind power, 2.64 million kilowatts of coal power, and 816 megawatt-hours of new energy storage, with a total investment of about 64.2 billion yuan [1] Group 2: Environmental Impact - Upon completion, the projects are expected to deliver approximately 72 billion kilowatt-hours of electricity annually to East China, with over 60% of this coming from renewable sources [1] - The projects will reduce coal consumption by about 13.7 million tons per year and cut carbon dioxide emissions by approximately 34 million tons, significantly promoting the green transition of the energy structure in East China [1]

Core Viewpoint - The "15th Five-Year Plan" marks a significant starting point for energy development in China, emphasizing the importance of building a strong energy nation and establishing a new energy system to support national modernization efforts [1] Group 1: Energy Development Strategy - The "15th Five-Year Plan" outlines strategic tasks for building an energy powerhouse, focusing on high-quality development and technological self-reliance [2][3] - The plan aims to establish a new energy system by the end of the "15th Five-Year Plan" period, which is crucial for the overall development of the country [3] Group 2: Technological Innovation - The emphasis is placed on enhancing the overall effectiveness of the energy technology innovation system, integrating various innovation elements and organizations [5] - The plan highlights the need for original innovation and tackling key core technologies to support the construction of a new energy system [3][4] - The integration of technological and industrial innovation is crucial, with a focus on developing new industries such as artificial intelligence and hydrogen energy [4][5] Group 3: Implementation and Goals for 2026 - Key areas of focus for 2026 include strengthening the energy technology innovation system and advancing major technological equipment demonstrations [6] - The plan includes the implementation of national technology major projects and enhancing energy efficiency while promoting green development [5][6] - The cultivation of new industries and business models in the energy sector is prioritized, particularly in areas like artificial intelligence and new energy storage [6]

证券研究报告 电力设备与新能源 统一电力市场赋能储网风光高质发展 行业走势图 (15) (2) 12 25 38 Feb-25 Jun-25 Oct-25 Feb-26 (%) 电力设备与新能源 沪深300 资料来源：Wind，华泰研究 2026 年 2 月 12 日│中国内地 动态点评 电力设备与新能源 增持 (维持) 刘俊 研究员 SAC No. S0570523110003 SFC No. AVM464 karlliu@htsc.com +(852) 3658 6000 边文姣 研究员 SAC No. S0570518110004 SFC No. BSJ399 bianwenjiao@htsc.com +(86) 755 8277 6411 戚腾元 研究员 SAC No. S0570524080002 SFC No. BVU938 qitengyuan@htsc.com +(86) 21 2897 2228 徐嘉欣* 联系人 SAC No. S0570125070136 xujiaxin@htsc.com 华泰研究 2 月 11 日，国务院办公厅关于完善全国统一电力市场体系的实施意见（国 办发〔2026 ...

Group 1 - The core viewpoint emphasizes the importance of the People's Congress system in ensuring that all state power belongs to the people, integrating party leadership, people's democracy, and rule of law [1] - The development of clean energy in Qinghai is highlighted as a key focus area, leveraging the province's natural resources such as abundant water, sunlight, and wind [1] - Research conducted by the provincial representative indicates that energy storage technology is crucial for addressing the intermittent and volatile nature of clean energy generation, enhancing grid acceptance and control capabilities [1] Group 2 - A proposal for a new pricing support policy for energy storage in Qinghai was submitted, advocating for a shared pricing mechanism involving various market participants [2] - The proposal was recognized as a key recommendation, leading to the establishment of a dedicated task force by the provincial People's Congress to study industry policies and address development challenges [2] - The provincial government has approved a market-oriented reform plan for renewable energy pricing, allowing energy storage entities to achieve profitability through a "low charge, high discharge" model, with trading price differences increasing significantly [3] Group 3 - The trading price difference for energy storage has risen to 0.57 yuan per kilowatt-hour, an increase of 0.22 yuan compared to the previous commercial peak and valley price difference, indicating a substantial rise in revenue levels [3] - Ongoing research into capacity pricing policies on the generation side is being conducted by relevant provincial departments to further enhance the energy storage industry [3] - The representative expresses a commitment to continue engaging with grassroots communities to transform their concerns into actionable suggestions for economic and social development [3]