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Source China Fund Daily
Wen Amman
In early trading on May 14, A shares rose slightly and then fell back quickly. Hot plate from pan-AI concept to medical concept, and finally "steady happiness" still came to the power sector.
On the face of the news, today, the National Development and Reform Commission issued the basic rules for the Operation of the electricity Market, which will come into force on July 1, 2024. After the release of the new rules, the electric power plate bottomed out and rebounded, and many stocks rose by the daily limit.
Sudden and good.
Multiple stocks are up by the limit.
In the morning trading on May 14, Jiangsu Xinneng suddenly rose in a straight line.
At the same time, Xichang Power impact trading, Star Power, Gansu Energy, Zhejiang Xinneng, Leshan Power and other rapid rise.
Among them, the concept of virtual power plant led the rise. Far East shares, Colin Electric, Jicheng Electronics have risen by the daily limit.
In news, on May 14, the National Development and Reform Commission issued the basic rules for the Operation of electricity Market, which will come into force on July 1, 2024. The rules make it clear that electricity energy trading shall be organized and implemented by power market operators in accordance with the rules of electricity market operation, and can also be negotiated by both parties to the electricity transaction. After fulfilling the market registration procedure, the operator participates in the transaction in the electric energy market. Business entities shall not collude with quotations, bid up prices or disrupt market order. When conducting electric energy transactions, operators shall not abuse their dominant market position to manipulate market prices; power generation enterprises composed of multiple power plants shall not make centralized quotations for electric energy transactions.
In response to a reporter's question on the "basic rules for the Operation of the electricity Market," a relevant responsible comrade of the State Energy Administration said that General Secretary Xi Jinping proposed to build a new power system at the ninth meeting of the Central Financial and Economic Committee, which pointed out the scientific direction for the development of electric power in the new era. Non-fossil energy power generation has gradually changed into the main body of installed and electricity, fossil energy power generation has been transformed into power support, and new types of business entities such as new energy storage, virtual power plants, load aggregators and so on have developed rapidly. The basic rules of Power Market Operation fully take into account the new situation of the development of the new power system, define the new business entity, and define the power auxiliary service transaction, capacity transaction and so on. efforts will be made to build a power market architecture that adapts to the access of high proportion of new energy, the reliable power support provided by traditional power sources, and the development of new operators.
A number of brokerages have also issued research reports on the opportunity to be optimistic about the power sector.
Citic Securities pointed out that in 2023, the net profit of the public utility industry increased by 70% compared with the same period last year. Under the background of the downward trend of interest rates and the expected decline in social returns, the asset value of the public utility industry with long-term characteristics is expected to be revalued to further highlight its investment value.
Citic Construction Investment said that based on a comprehensive multi-dimensional analysis of new projects under construction, new fixed assets, cash flow of capital expenditure, industry demand forecast and deterministic scoring, it is concluded that in the 2024-2025 cycle, power equipment (sea, domestic, power, etc.), global household savings (except Europe), global large reserves, in the economic quadrant, in this range, the success rate of selected targets is high. The current fundamentals of lithium, photovoltaic and European household savings are already at the bottom of the L-shaped position, and the supply and demand situation of the 2024Q4-2025Q2 industry may be greatly improved. Photovoltaic production capacity and capital expenditure in the first two quarters are relatively strong, focusing on the demand elasticity at the bottom of the industrial chain price, the selection of targets in this direction needs to closely track the industry pattern combined with valuation for selection, while also requires a strong timing ability.