In the past few days, there have been extremely high-temperature weather in many places across the country. Industry sources told the China Securities Journal that as the rate of utilization of thermal power plants increased, the downward trend of thermal coal prices began to slow down, and the coal market began to experience some subtle changes.
High grid load
Since late July, the country has ushered in a wide range of high-temperature weather, and the power grid load has continued to climb. According to data from the National Grid Power Control Center, at the end of July and early August, the country’s power grid load has hit a record.
Take Beijing as an example. At 16:34 on July 30, the load of Beijing Power Grid reached 16.797 million kilowatts, a record high. Beijing Electric Power Company adjusted its emergency response level from Level IV to Level III. At 11:07 on the previous day on July 29, the maximum load of Tianjin Power Grid exceeded the 12 million kilowatts mark for the first time, reaching 12.17 million kilowatts, a record high, and a 7.7% increase from the previous year's maximum load.
The same “heat-tolerant summer†is more southern provinces. On July 28th, the highest temperature in Hangzhou, Zhejiang Province, reached 40.1 degrees Celsius, which is the highest temperature over 40 degrees Celsius for 5 consecutive days. As of July 29, Zhejiang Electric Power Co., Ltd.'s unified call power load and daily electricity consumption this year have broken records, with the highest records reaching 54.63 million kilowatts and 1.13 billion kwh. At present, the largest power supply capacity in Zhejiang is between 53 million and 3.55 million kilowatts, and the electricity balance is extremely tight.
The western provinces have not been spared. On August 1st, with the continued high-temperature weather, the load of Ningxia Power Grid continued to climb. The maximum load reached 10.28 million kilowatts, and the daily electricity consumption reached 23326 kilowatt-hours, which was a record high.
According to the data provided by the State Grid, July 24-25 power generation volume twice set a new record, which reached 16.866 billion kwh on the 25th; the National Grid electricity load hit a record high of 627 million kilowatts on the 25th, including, The three regional power grids in North China, East China and Central China and the seven provincial-level power grids in Hebei, Shanghai, Jiangsu, Zhejiang, Anhui, Fujian, and Hunan all set record highs.
Coal market or change
The difference from the past is that this year's increase in grid load did not result in the emergence of "electricity shortage." State Grid Sources told the China Securities Journal that in the past before the beginning of summer, “electricity shortage†would appear in some areas, and the phenomenon of power cuts was widespread, and some industrial enterprises had to adjust production lines. This year, despite the rising electricity consumption of residents, the “electricity shortage†has not yet arrived again.
An analysis by relevant persons of the CEC said that this is related to the decline in the growth rate of industrial electricity consumption. As the country accelerates the elimination of backward production capacity in the steel and papermaking industries, the growth rate of social power consumption will remain low, indicating that the domestic economy has made some positive progress in the “structural adjustmentâ€.
Wang Zhenming, senior engineer of the State Grid Beijing Institute of Economics and Technology, told the China Securities Journal that in the context of a significant increase in electricity use by residents, this year, the entire society will have a record high electricity consumption. In recent days, the hydropower companies in the southern provinces have reduced their output due to the low water level of the reservoir, and the operating rate of most thermal power plants has increased significantly.
Taking Hunan as an example, according to media reports, on July 24, the maximum electricity load in Hunan reached 20.54 million kilowatts, and the daily electricity consumption reached 429 million kilowatts, both hitting a record high. However, in the daily electricity consumption, hydropower only accounted for 47 million kwh, and thermal power reached 317 million kwh. In addition, other provinces purchased electricity 56 million kwh, new energy and other electricity generation 10 million kwh.
According to figures provided by the agency, at present, the average operating rate of major thermal power plants has reached 96.6%, an increase of 1.3 percentage points from the previous month, and coal inventories have also been correspondingly reduced, with a decline of around 3%.
The reporter noted that so far, the increase in the operating rate of thermal power has not driven the stabilization of thermal coal prices and sales volume. However, a number of coal companies told reporters that since the end of July, the rate of decline in coal prices has begun to slow down, with the arrival of power plant inventory, thermal coal prices may appear subtle changes.
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