我国产业和居民生活正以前所未有的速度"插电"。中国电力企业联合会近日发布的《中国电气化年 度发展报告2025》显示，2024年，我国电气化率约28.8%，较上年提高0.9个百分点，中国电气化率已高 于欧美主要发达经济体。预计到2030年，全国电气化率将达35%左右，超出经济合作与发展组织国家平 均水平8个到10个百分点。这一超越，仅仅是数字上的领先，还是预示着一场更深层次的国力角逐？ 电气化率，是指电能占终端能源消费的比重，它是衡量国家现代化水平的重要标志。作为优质、高 效、清洁的二次能源，电能大规模应用和替代其他能源，有利于提高经济效率、保障国家能源安全、助 力"双碳"目标达成。 高电气化率是经济高质量发展的"助推器"。不同能源品种具有不同的经济效率，相较于煤炭、石油 等能源品种，电力经济效率最高。这意味着，同样的能源使用量可以实现更多的经济产出。电能还可以 高效便捷地转化为其他能源，如热能、机械能，还能实现精密控制。企业通过电能替代，可以大幅提升 能效水平，减少综合用能成本。电动汽车、大数据中心、人工智能、高端精密制造等新兴产业，更是高 度依赖稳定、廉价的电力供应。我国电网的强大稳定性和高电气化率，是背后 ...

县计县策 商水县牢固树立"两山"理念，筑牢生态安全屏障，聚焦节能环保产业，加快推进生态保护系统化、环境 治理精细化、资源利用高效化、生产生活方式绿色化，为经济社会高质量发展提供坚实保障。 垃圾是放错位置的资源，把垃圾化腐朽为神奇，既是科学，也是艺术。9月30日，记者走进位于周口市 商水经济技术开发区的国家级资源循环利用基地，通过不同企业间的"连连看"，见证了变废为宝的神奇 魅力。 生活垃圾如何变废为宝？走进城发环保能源（商水）有限公司垃圾吊操作室，工作人员正熟练地操作着 机械抓手，把垃圾贮坑内的垃圾"调拌均匀"，经过5至7天的发酵，增加有机质含量后，再被投炉燃烧， 一场浴火重生的奇妙转化正式开始。 "我们的焚烧炉通过加热水产生水蒸气，水蒸气推动汽轮机旋转产生机械能，带动发电机旋转从而产生 电能。垃圾日处理能力稳定在1200吨左右，日发电量50万千瓦时左右。"该公司董事长胡乔夫说，焚烧 产生的炉渣经渣场处理后，可与水泥搅拌制成水泥砖，实现循环利用。 作为城发环保能源（商水）有限公司的邻居，河南正康环保科技发展有限公司餐厨预处理车间正上演着 餐厨垃圾消失术。"这些餐厨垃圾经过称重计量、预处理、提油、厌氧发酵等过程 ...

Core Viewpoint - The construction of the Tibet-Guangdong direct current project marks a significant step in energy transmission, enabling Tibet to supply 43 billion kilowatt-hours of electricity annually to the Guangdong province, which is crucial for meeting its growing energy demands [4][27]. Group 1: Energy Supply and Demand - Guangdong, as China's largest economy and industrial province, has an electricity consumption forecast of 912.1 billion kilowatt-hours for 2024, comparable to that of Japan [9]. - Despite having a generation capacity exceeding 700 billion kilowatt-hours, Guangdong faces a significant electricity shortfall, necessitating the expansion of nuclear power and reliance on "West-to-East Power Transmission" [10][15]. - The Tibet-Guangdong project will enhance energy supply, with the potential for Tibet to develop its vast hydropower resources, estimated at a theoretical annual generation capacity exceeding 1 trillion kilowatt-hours [19][21]. Group 2: Infrastructure and Economic Impact - The Tibet-Guangdong direct current project will span over 2,600 kilometers, utilizing advanced technology to deliver electricity with minimal latency [25][26]. - The project is expected to create over 100,000 jobs during peak construction, significantly impacting the local economy in Tibet [31]. - The total investment for the project is projected to reach 200 billion yuan, including direct investments and supporting infrastructure [30]. Group 3: Economic Growth and Development - Tibet, historically the weakest province in terms of GDP and population, is experiencing a turnaround with multiple large-scale infrastructure projects, including the 300 billion yuan Sichuan-Tibet Railway and the 1 trillion yuan Yarlung Tsangpo River hydropower project [40][42]. - Recent years have seen Tibet achieving the highest GDP growth rates in the country, indicating a shift in its economic trajectory [38]. - The combination of significant investments and infrastructure development positions Tibet to potentially escape its status as the weakest province economically [43][44].

国网江苏省电力有限公司相关负责人表示，江苏今夏还积极开展省间电力互济交易，运用省间现货交 易、跨区跨省应急调度等手段增购高峰电力，其中通过省间中长期交易固化高峰电力3840万千瓦，稳步 提升高峰时段受电水平。 此外，为确保区外清洁能源"送得进、落得下"，江苏先后完成天目湖和茅山500千伏变电站主变扩建工 程等，持续强化网架结构、完善监测预警和应急响应机制，进一步增强地区清洁能源消纳能力。 （文章来源：新华网） 记者17日从国网江苏省电力有限公司获悉，江苏多举措迎峰度夏，稳步提升高峰时段受电水平。电网净 受入区外来电规模突破4000万千瓦，达4053万千瓦，创历史新高。 记者了解到，江苏今夏最高用电负荷突破1.56亿千瓦，居长三角地区首位。江苏依托"一交四直"特高压 混联的坚强网架大规模、跨区域引入外电，来自四川、山西、内蒙古等地的"水、火、风、光"富余资源 持续转化为稳定电能被送至江苏。 "这些区外来电通过地方换流站进行分流，为常州地区新能源汽车、光伏等高新技术产业发展注入了强 劲动能。"国网常州供电公司电力调度控制中心地区调度班班长黄科说，今夏区外来电最高时段占常州 电网负荷比重过半，在地区用电负荷多次创新 ...

Group 1 - The company achieved good performance in the first half of 2025, focusing on high-quality development in its core business areas, including energy and technology innovation [8][10] - The company has made significant progress in its electric power sector, with key projects like the coal power unit replacement project (420MW) included in Guangzhou's 2025 key construction projects [8][10] - The company reported a revenue of 2.07 billion yuan and a net profit of 216.73 million yuan, representing a 135.99% increase compared to the previous period [10] Group 2 - The company has successfully expanded its heat energy sector by acquiring new heat users and signing investment agreements for industrial park heating projects [9] - In the hydrogen energy sector, the company is advancing its international hydrogen industry park and has launched new energy stations [9] - The company has operational storage projects with a total capacity of 381MWh, including 27 operational storage power stations [9][10] Group 3 - The company has strengthened its management practices, achieving a 4% increase in electricity sales to 3.468 billion kWh, while steam sales slightly decreased by 0.26% [10] - The company has implemented stock buybacks, repurchasing 9.597 million shares for a total of 59.77 million yuan [10] - The company emphasizes the integration of party building with business operations to enhance its development and governance [11][12] Group 4 - The company held its 9th board meeting on August 29, 2025, where it approved the appointment of a new board secretary and the annual audit firm [20][26] - The board approved the continuation of the audit firm Lixin CPA for the 2025 fiscal year, with an audit fee of 1.128 million yuan [30][36] - The company has ensured compliance with legal and regulatory requirements in its reporting and governance processes [14][26]

Core Insights - In July, China's total electricity consumption reached 10,226 billion kWh, marking an 8.6% year-on-year increase and doubling compared to a decade ago, equivalent to the annual electricity consumption of ASEAN countries [1] - The surge in electricity consumption was driven by multiple rounds of high temperatures, with July marking the first time monthly electricity consumption exceeded 1 trillion kWh globally [1] Group 1: Electricity Consumption Trends - In July, the primary industry consumed 17 billion kWh (up 20.2% YoY), the secondary industry consumed 5,936 billion kWh (up 4.7% YoY), and the tertiary industry consumed 2,081 billion kWh (up 10.7% YoY) [2] - High-tech and equipment manufacturing industries saw a combined electricity consumption increase of 4.6%, outpacing the average manufacturing growth rate by 2.3 percentage points [2] - The new energy vehicle manufacturing sector experienced a significant electricity consumption increase of 25.7% YoY [2] Group 2: Seasonal Electricity Load Characteristics - The dual peak characteristics of electricity load in winter and summer have become increasingly evident, with this summer experiencing multiple high-temperature events leading to record electricity loads [3] - Urban and rural residential electricity consumption reached 9,132 billion kWh from January to July, reflecting a 7.6% YoY increase, with some regions seeing over 30% growth in July [3] Group 3: Supply Measures and Infrastructure - To ensure energy security during peak load periods, measures include guaranteeing primary energy supply, promoting the commissioning of new power units, and enhancing inter-regional electricity transmission [4] - In the first half of the year, 62.66 million kW of new power generation capacity was commissioned, exceeding plans by 17.95 million kW, significantly improving summer electricity supply capacity [4] - The West-to-East electricity transmission completed 1,024 billion kWh, exceeding the annual plan by 169 billion kWh, supporting summer electricity supply [4]

Core Insights - The article highlights the record high electricity load in China's State Grid region due to extreme weather conditions, with peak loads reaching 1.223 billion kilowatts over three consecutive days [1] - The establishment of a normalized electricity trading mechanism between State Grid and Southern Grid is a significant development aimed at enhancing electricity supply security and market efficiency [2][3] Group 1: Electricity Load and Supply - The electricity load in Hefei, Anhui, has exceeded last year's peak multiple times since July, indicating a sustained high demand [1] - The State Grid has been proactive in managing peak electricity loads and optimizing demand management to ensure stable supply [2] - The cross-regional electricity trading has facilitated the transfer of over 20 billion kilowatt-hours of electricity from Southern regions to Eastern regions, equivalent to the annual consumption of over 800,000 households [2] Group 2: Cross-Regional Trading Mechanism - The normalized electricity trading mechanism allows for better coordination between State Grid and Southern Grid, effectively creating a nationwide "online electricity marketplace" [3] - The trading mechanism is expected to enhance the competitiveness of power generation companies by allowing them to connect with more load provinces [3] - The implementation of this mechanism is supported by the establishment of detailed business processes and technical platform integration to facilitate efficient trading [6] Group 3: Challenges and Improvements - Previously, the lack of a regular trading mechanism limited the utilization of inter-grid transmission channels, which were underused [4][5] - The complexity of organizing cross-regional trading and the absence of policy support hindered participation from various stakeholders [6] - Future efforts will focus on improving the national unified electricity market system and removing institutional barriers to optimize electricity resource allocation [6]

Core Insights - The article discusses the challenges of increasing electricity demand in the context of fully loaded transmission channels, emphasizing the need for a smooth mechanism to address these issues [1] - It highlights the importance of a unified national electricity market to enhance resource allocation and ensure stable power supply, which is crucial for economic development and public welfare [1] Group 1: Mechanism and Market Dynamics - The "smooth mechanism" is essential for stimulating market vitality, involving collaboration between State Grid and Southern Grid to create transaction processes and reduce costs [1] - The exploration of this mechanism promotes the consumption of surplus renewable energy and ensures stable electricity supply, enhancing the competitiveness of related enterprises [1] Group 2: Resource Allocation and National Impact - Over 20 billion kilowatt-hours of electricity from provinces like Guangdong illuminate thousands of homes in Shanghai, illustrating the significant impact of breaking market segmentation [1] - A unified electricity market will provide a more reliable guarantee for high-quality development as policies and mechanisms continue to improve [1]

Investment Rating - The report maintains an investment rating of "Leading the Market - A" [6] Core Insights - The fusion energy industry is experiencing a "race-like development" with significant capital influx, as it is viewed as a long-term solution for clean and stable energy [1] - Approximately 50 private fusion companies globally have raised over $9 billion, with several projects aiming for grid connection by around 2035 [1] - The commercial vision of fusion energy is driving intense competition among governments and enterprises in technology, capital, and policy [1] Summary by Sections 1. Fusion Energy Development - The fusion energy sector is transitioning from scientific research to engineering validation and industrial promotion, with notable advancements in both domestic and international projects [1][2] - In the U.S., Commonwealth Fusion Systems (CFS) has partnered with Google to optimize fusion control and has established the largest fusion power purchase agreement globally [1] - Helion Energy plans to construct the world's first fusion power plant, aiming to supply 50 MW to Microsoft's data center by 2028 [1] 2. Market Performance - The report notes that from July 19 to August 1, the Shanghai Composite Index rose by 0.72%, while the public utilities index fell by 2.34% [3] 3. Industry Dynamics - China's fusion energy industry is driven by a collaboration between state-owned enterprises and private companies, forming a multi-faceted research and development ecosystem [2] - The "national team" focuses on large Tokamak devices, while private enterprises are accelerating commercialization through modular and miniaturized technologies [2] 4. Investment Portfolio and Recommendations - The report suggests focusing on key players in the thermal power sector, such as Sheneng Co., Zhejiang Energy, and Anhui Energy, which are expected to perform well despite slight coal price increases [13] - In the green energy sector, it recommends quality operators like Fuzhou Energy and Zhongmin Energy, as well as virtual power plants like Hekang New Energy and Guoneng Rixin [13] - For gas companies, it highlights the importance of monitoring domestic gas pricing policies and suggests focusing on national gas companies like China Gas and upstream-downstream integrated firms like Jiufeng Energy and Xin'ao Co. [13] 5. Pricing Trends - In August 2025, the average transaction price for electricity in Jiangsu was 393.8 RMB/MWh, up 0.72% from the benchmark price, while in Guangdong, it was 372.32 RMB/MWh, down 17.81% [11] - The average price of thermal coal in the Bohai Rim region was reported at 665 RMB/ton, with coal inventories at key power plants increasing slightly [11] 6. Future Outlook - The report anticipates that by 2050, China will achieve commercial fusion power stations, with significant advancements expected in the 2030s [44][46]

Core Viewpoint - China Huaneng is actively responding to the challenges posed by Typhoon "Weipa" and is ensuring stable energy supply during the summer peak demand period through comprehensive measures and multi-energy coordination [1][11]. Group 1: Typhoon Response and Energy Supply - China Huaneng initiated a level III natural disaster warning on July 20, closely monitoring the typhoon's path and weather changes to ensure the safety and stability of its power generation units [1]. - The company has established a multi-energy supply network that integrates water, fire, wind, and solar energy to maintain energy supply security during high-temperature conditions [1]. Group 2: Hydropower Optimization - Huaneng Yunnan Company has optimized hydropower generation through precise forecasting and dynamic adjustment of power supply strategies, achieving a pre-flood water conservation increase of 10.91 billion kWh and a total energy storage conversion of over 86 billion kWh [2]. - The company has successfully increased hydropower generation by 3.36 billion kWh during the summer peak, with six hydropower stations operating at full capacity for 20 consecutive days [2]. Group 3: Renewable Energy Development - Huaneng Yunnan Company has accelerated the construction of renewable energy projects, achieving a total installed capacity of over 7.44 million kW, with solar and wind projects contributing over 45.9 billion kWh of green energy, a year-on-year increase of 33% [7][6]. - The company has implemented a "128" management system for renewable energy production, enhancing the utilization rates of wind and solar energy to 99.54% and 99.97%, respectively [6]. Group 4: Thermal Power Management - Huaneng Hebei Shangan Power Plant has established a task force to ensure energy supply during peak demand, achieving a maximum daily generation of 4.92 billion kWh and a monthly generation of 120 billion kWh, with a cumulative generation surpassing 550 billion kWh, a 9% year-on-year increase [5][8]. - The plant has improved fuel supply management and enhanced coal storage capacity to over 500,000 tons, ensuring reliable operation under varying load conditions [8]. Group 5: Ongoing Energy Supply Efforts - The company continues to implement detailed management strategies to ensure stable energy supply, with various plants across regions actively participating in peak load management and emergency preparedness [10][11]. - Huaneng is committed to maintaining energy supply security and supporting social and economic operations during high-temperature conditions, demonstrating its role as a central enterprise [11].