Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoint The report tracks important developments in the domestic and international "dual carbon" field from December 22 to December 26, 2025, mainly in the carbon quota trading area. Prices of carbon allowances in European and American carbon markets increased last week, while volume decreased; the price of Korean carbon allowances decreased, and so did the volume. In the domestic market, the cumulative trading volume and amount of carbon emission allowances in the national carbon market increased significantly, and the weekly trading volume in domestic pilot carbon markets also rose [2]. 3. Summary by Directory 3.1 International Carbon Trading Market Tracking - **European Carbon Quota Price and Volume**: EUA spot prices rose by 1.28% from December 22 to December 23, and due to Christmas closures, the trading volume decreased by 44.51% to 278,000 tons last week [6]. - **US Carbon Quota Price and Volume**: EUA futures prices rose by 0.61% from December 22 to December 24, with a trading volume decrease of 65.01% to 58.7 million tons last week. UKA futures prices rose by 0.95% from December 22 to December 26 [9]. - **Korean Carbon Quota Price and Volume**: KAU25 spot prices decreased by 1.58% from December 22 to December 26, and the trading volume dropped by 29.68% to 462,400 tons last week [13]. 3.2 Domestic Carbon Market Tracking - **National Carbon Market Carbon Quota Volume and Average Transaction Price**: The cumulative trading volume of national carbon market carbon allowances (CEA) was 1.56556 million tons, and the cumulative trading amount was 1.122 billion yuan, with increases of 60.92% and 93.63% respectively. As of December 26, the average daily transaction price of CEA was 71.36 yuan/ton, up 19.66% [16]. - **Weekly Average Transaction Price of Carbon Quotas in Domestic Pilot Provincial and Municipal Carbon Markets**: Except for HBEA in Hubei Province, the weekly average transaction prices of carbon quotas in domestic pilot carbon markets increased. FJEA in Fujian Province had the largest increase at 10.63%. Compared with the same period last month, the prices varied. BEA in Beijing had the largest increase at 7.01%, and SZA in Shenzhen had the largest decrease at 15.66% [18]. - **Trading Volume and Transaction Amount of Carbon Quotas in Domestic Pilot Provincial and Municipal Carbon Markets**: Last week, carbon quota trading in domestic pilot carbon markets was mainly concentrated in Tianjin, Hubei, and Guangdong, accounting for 77.82% of the total weekly trading volume. The transaction amounts in Tianjin, Beijing, and Hubei accounted for 76.55% of the total. The total weekly trading volume in domestic pilot carbon markets was 759,400 tons, an increase of 88.70% [19]. 3.3 Dual Carbon Frontier Technology Tracking - **Delivery of the World's First Methanol Dual-Fuel Powered Intelligent Ultra-Large Oil Tanker**: On December 22, the "Kaituo" tanker, the world's first methanol dual-fuel powered intelligent ultra-large oil tanker, was successfully delivered in Dalian. It has features such as strong seaworthiness, good port adaptability, low emissions, and intelligent operation. Compared with conventional fuel oil, it can reduce carbon dioxide emissions by up to 92% [24]. - **Release of the World's First Native Power Professional Large Model**: Recently, the NWHR Power Production Large Model (AI EPS V1.0) was officially released, which is the world's first native power large model innovated from the source of the underlying architecture, a significant innovation in the application of AI in the vertical field of power production [24].

Core Viewpoint - The NWHR Electric Production Model (AI EPS V1.0) has been launched, representing a significant innovation in the electric power system, designed specifically for the unique characteristics of the power industry [2][4]. Group 1: Model Development and Features - The NWHR model is the world's first original electric power model innovated from the underlying architecture, aimed at achieving "transparent operation" in the new electric power system [2]. - The model integrates measurement data, physical laws, and operational regulations at three levels, achieving deep fusion and coordination [4]. - Key technological innovations include real-time perception of the grid, deep understanding and effective application of physical laws, and enhanced risk assessment capabilities [6]. Group 2: Practical Applications and Impact - The NWHR model has been successfully trialed at the Dali Power Supply Bureau of Southern Power Grid, reducing scheduling time from hours to minutes [6]. - The model is expected to increase green electricity generation by over 120 million kilowatt-hours annually and reduce carbon dioxide emissions by approximately 60,000 tons per year [6]. - The development team plans to iteratively optimize the NWHR model during the 14th Five-Year Plan period, focusing on the technical evolution from city-level to provincial and regional grids [6].

Core Viewpoint - The article discusses the launch of China's first large-scale AI model for the power industry, the NWHR Power Production Model, developed by the Huairou National Laboratory in collaboration with the Southern Power Grid Company, marking a significant advancement in the application of artificial intelligence in power production [4][6]. Group 1: Event Overview - The launch event took place on February 19, 2023, in Beijing, attended by various government officials, experts, and representatives from academic institutions and companies [1]. - The NWHR Power Production Model (AI EPS V1.0) is described as the world's first original power model innovated from the ground up, tailored specifically for the characteristics of power systems [3][4]. Group 2: Technological Innovations - The model integrates real-time sensing, precise analysis, intelligent decision-making, and adaptive operation, addressing the urgent need for a "smart brain" for the power grid [6]. - Three core technological innovations were achieved: - Real-time sensing capabilities allow for rapid state inference of the power grid within approximately tens of milliseconds [7]. - Enhanced precision in understanding and applying physical laws of electricity, enabling the model to maintain high accuracy across billions of unseen scenarios with minimal training [8]. - Improved risk assessment accuracy through a core unit that aligns heterogeneous spatial semantics, supporting safe and efficient operation of the grid under high proportions of renewable energy [8]. Group 3: Practical Applications and Results - The NWHR model has been successfully trialed at the Dali Power Supply Bureau of the Southern Power Grid, demonstrating its real-time, precision, and intelligent features [11]. - Key outcomes from the trial include: - A two-order-of-magnitude improvement in forecasting accuracy for power flow distribution under non-typical conditions with high renewable energy integration [11]. - The ability to autonomously identify new operational points, increasing the renewable energy consumption rate by approximately 25% [11]. - Generation of system-level optimization plans within minutes, significantly reducing the time required for complex operations [12]. - The model is expected to contribute over 120 million kilowatt-hours of green electricity annually and reduce carbon dioxide emissions by about 60,000 tons [12]. Group 4: Future Development - The collaboration between the Huairou National Laboratory and the Southern Power Grid Company exemplifies organized scientific research under the new national system, with plans for continuous optimization of the NWHR model during the 14th Five-Year Plan period [12]. - The goal is to ensure the effective integration and utilization of various energy resources, supporting the construction of a new power system and the national energy strategy [12].

Core Viewpoint - The article discusses the launch of the NWHR Electric Production Model (AI EPS V1.0), a groundbreaking AI model designed for the electric power system, emphasizing the need for a smart grid that can adapt and operate efficiently in real-time [1][2]. Group 1: Model Development and Features - The NWHR Electric Production Model is the world's first original electric power model innovated from the ground up, tailored specifically for the characteristics of the electric power system [1]. - The model integrates measurement data, physical laws, and operational regulations, achieving breakthroughs in real-time sensing, precision, and intelligence [2]. - A spatial-temporal state space model allows for rapid simulation of grid states within approximately tens of milliseconds [2]. Group 2: Performance and Impact - The model enhances the understanding and application of physical laws in the electric grid, translating them into executable functions that ensure safe operations, significantly improving numerical calculation accuracy [2]. - The system has been successfully trialed at the Dali Power Supply Bureau, reducing scheduling time from hours to minutes and increasing green electricity generation by over 120 million kilowatt-hours annually, while reducing carbon dioxide emissions by approximately 60,000 tons [2]. Group 3: Future Development Plans - The research team plans to iteratively optimize the NWHR model during the 14th Five-Year Plan period, focusing on the technical evolution from city-level to provincial and regional grids for better coordination and optimization of energy resources [3].