Power companies are facing the most severe since 2008, operating pressure, signs of reproduction of the electricity shortage in some areas, some provinces and cities, or face blackouts again tested. Inflationary pressures eased in the context of the recent price increases across the country need, the possibility is further increased. Meanwhile, beginning on January 1 next year the implementation of new emission standards for power plants, also increases the urgency of price increases.
Power generation companies are faced with the dilemma of losing money. Three quarterly reports from the power company can be seen, the first three quarters of the power sector profits fell more than 26%. Enterprises are facing huge financial pressure, some power plants close to 150% debt ratio.
In this case, the State Electricity Regulatory Commission recently warned that the central six provinces this winter and next spring or will face the most serious power shortages, power cuts some provinces and cities will once again face the test. Has entered the heating season supply, pushing up the prices of factors of seasonal thermal coal price increase, which will enable power companies more sad days.
In addition, the "thermal power plant air pollutant emission standards" will be from January 1 next year to implement. According to CEC preliminary estimates, the improvement of environmental standards will increase the thermal power plant 90 billion annually -1100 billion in operating costs. Denitrification has not yet issued in the case of electricity, power companies have been difficult to undertake a serious case of a loss so great that the operating costs.
Based on the above factors, the short term the need to protect electricity security of supply greatly increased. If we do not price increases, has been a serious loss of power generation companies will be more a lack of enthusiasm, but the macroeconomic impact of power shortage is obvious.
Electricity price adjustment program departments have been reported recently. Taking into account the downward trend of inflation has been established, the program recently approved electricity price adjustment more likely.
The industry estimates that the price adjustment or logical continuation of previous price increases. April 10 this year, the NDRC raised the tariff of 12 provinces, increases in the range of 2 cents / kWh or so. June 1, Development and Reform Commission has raised the 15 provinces, industry and commerce, agriculture, electricity prices. Therefore, before the price adjustment is still possible electricity price increases, sales after price increases. Taking into account the power loss is a nationwide company, so the scope of price adjustment may no longer be localized.
It is estimated that 1 cents / kWh of electricity price upgrade can cover about 25 yuan / ton raw coal prices cost pressures. The average estimates, electricity price rise 2 cents / kWh, the power company restored to profitability in late 2010 levels.
The price adjustment is expected if implemented, will alleviate the short-term power shortage, enhance the performance of the power companies have a positive effect. But based on past experience, to bring electricity to enhance the profit margins will soon be swallowed by rising coal prices. Therefore, based on administrative means to reduce the coal linkage is only a transitional coal contradictory solutions to the system of coal top cow problem, further deepening of the power system, rationalize the crux between the upstream and downstream, it will be a long-term and arduous task.