Electricity supply and demand situation in the first 4 months was the most intense in 4 years

According to the data released by the China Electricity Council on the 16th, electricity consumption in the country, especially the secondary industry, continued to flourish in April-April, with a record high in electricity consumption in the manufacturing sector in April. From January to April, the utilization of thermal power equipment was higher than the level of the previous three years, which reflected that this year's power supply and demand situation was the most intense since the international financial crisis in 2008.

Electricity consumption maintains a high level

The data shows that from January to April, the electricity consumption of the entire society maintained a relatively high level, with a cumulative increase of 12.4% year-on-year. Among them, the year-on-year increase of 11.2% in April was 2.2 percentage points lower than in March. It has been falling slowly for two consecutive months, reflecting the seasonal characteristics. However, judging from the average daily electricity consumption, April is basically the same as January and March, reflecting the current stable demand for electricity consumption in the society.

In April, the power consumption of the secondary industry increased by 11.3%, slightly higher than the growth rate of the electricity consumption of the entire society in the month, but it fell 3.7 percentage points from that in March, and contributed 76.6% to the growth of electricity consumption in the entire society. Among them, the average daily electricity consumption in the manufacturing sector reached a record high of 7.3 billion kWh/day, and exceeded the historical record of 7 billion kWh/day for the first time on a monthly basis, reflecting the relatively strong production situation in the manufacturing industry.

Increased installed capacity of new power generation

In terms of power supply, from January to April, the country’s newly added infrastructure power generation capacity was 18.85 million kilowatts, which was a drop of 3.4 million kilowatts from the same period of last year. This was mainly due to a 3.88 million kilowatts reduction in newly installed thermal power generation over the same period of last year. Hydropower and grid-connected wind power increased by 2.12 million kilowatts and 3.24 million kilowatts respectively, both slightly higher than the same period of the previous year. The grid-connected solar power generation added 61,800 kilowatts.

As of the end of April, the national full-caliber power generation equipment capacity was about 980 million kilowatts. Thermal power installed capacity accounted for 75.6% of the total installed capacity, a year-on-year decrease of 1.4%, and the proportion of wind power installed capacity increased by 1.2% during the same period. In terms of sub-regions, the growth rate of installed capacity in the western provinces was relatively high, and the growth of installed capacity in the eastern region was slow. Coupled with the lag in construction of the “West-to-East Electricity Transmission” grid, the supply capacity in the eastern region was insufficient.

Power coal security pressure

From the point of view of power generation, from January to April, the power generation capacity of the above-scale plants nationwide was 1,430.5 billion kWh, an increase of 12.6% year-on-year. Power generation in April increased by 11.7% year-on-year, 3.1 percentage points lower than that in March, and the growth rate of hydropower generation slowed down significantly. The decline in hydropower production and the rise in coal prices have caused a shortage of supply capacity in some provinces. The supply and demand situation has been relatively tight.

The monthly thermal power generation capacity of thermal power generation exceeds 300 billion kilowatt-hours for four consecutive months, far exceeding the monthly thermal power generation capacity during the peak summer season of 2010, which has caused great pressure on power coal protection. The utilization hours of thermal power equipment are the core indicators reflecting the relationship between supply and demand. From January to April, the utilization hours of thermal power equipment was 1,734 hours, which was a year-on-year increase of 20 hours, which was higher than the level of the same period of the previous three years, reflecting that the supply and demand situation was the most intense since 2008. The utilization of thermal power equipment in most provinces in the eastern and central regions has exceeded the level of the same period in 2007.

In terms of investment, from January to April, the country’s investment in electricity construction reached 154.7 billion yuan, a year-on-year increase of 10.4%. Among them, the completion investment of power supply and power grid construction increased by 15.9% and 4% year-on-year, respectively, and the cumulative growth of grid investment investment in the year was the first time since 2010 that it had achieved a negative turn. Investment in hydropower, nuclear power, and wind power increased by 59.9%, 27.6%, and 22.9% year-on-year, respectively, while the proportion of investment in thermal power continued to decline.

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