Industry trend: the Shanghai Composite Index fell 1.25%, the gem index fell 4.26%, and the environmental protection and public utilities index fell 2.81%. Among the environmental protection sectors, the water treatment sector fell by 6.57%, the atmospheric control sector fell by 4.24%, the solid waste sector fell by 6.38%, the environmental monitoring sector fell by 4.7%, the energy conservation and clean energy utilization sector fell by 5.63%, and the garden sector fell by 7.18%; Among the power sector, the clean energy power generation sector fell 11.91%; Water sector fell 1.66%.
Key points of this week:
1) public utilities perspective:
Guangdong's energy development plan was issued, and the development of new energy and nuclear power continued to advance during the 14th Five Year Plan period. Recently, the people's Government of Guangdong Province issued the 14th five year plan for energy development in Guangdong Province. The plan proposes that during the "14th five year plan" period, the total installed capacity of Guangdong power will reach 238 million KW, with a cumulative increase of about 96 million KW, of which offshore wind power will be vigorously developed, with an additional installed capacity of about 17 million KW, and an additional installed capacity of about 3 million KW and 20 million kw of onshore wind power and photovoltaic power respectively. At the same time, the plan proposes to actively, safely and orderly develop nuclear power, with an additional installed capacity of about 2.4 million KW; Accelerate the construction of pumped storage power stations, and increase the installed capacity of pumped storage power stations by 2.4 million KW; We will actively develop natural gas power generation and increase the installed capacity of natural gas power generation by about 36 million kilowatts. The "14th five year plan" energy development plans have been issued one after another. New energy and nuclear power are important development directions during the "14th five year plan". Nuclear power + new energy two wheel drive is mainly recommended. There is room for both volume and price to rise [ China National Nuclear Power Co.Ltd(601985) ].
Building a unified energy market and a market-oriented mechanism to help achieve the goal of "double carbon": on April 10, the opinions of the CPC Central Committee and the State Council on accelerating the construction of a national unified market was issued, which focused on building a national unified energy market. On the one hand, improve the multi-level unified power market system, study and promote the timely establishment of the national power trading center, and further give play to the role of the national coal trading center to promote the improvement of the national unified coal trading market. On the other hand, standardize the construction of oil and gas trading center and optimize the layout of key infrastructure such as trading venues and delivery warehouses. Promote the interconnection of oil and gas pipeline network facilities and fair opening to all kinds of market subjects, steadily promote the market-oriented reform of natural gas, and accelerate the establishment of a unified natural gas energy measurement and pricing system. The market-oriented reform of natural gas promotes the natural gas enterprises with a favorable layout of the whole industrial chain of upstream, middle and downstream. At the same time, due to the large gap in natural gas prices between Europe and the United States, it is recommended to focus on the long-term layout of international natural gas trade. China's natural gas leader [ Enn Natural Gas Co.Ltd(600803) ] with Zhoushan LNG terminal and the whole industrial chain.
In March, the power consumption of the whole society increased steadily: according to the release of China electricity Union, the power consumption of the whole society in China from January to March 2022 was 2.04 trillion kwh, with a year-on-year increase of 5.0%. Among them, the power consumption of the whole society in March was 694.4 billion kwh, with a year-on-year increase of 3.5%, and the growth rates of power consumption of the primary, secondary and tertiary industries were 12.3%, 2.3% and 4.0% respectively; The domestic electricity consumption of urban and rural residents increased by 8.8% year-on-year.
2) viewpoint of environmental protection:
Fight for urban black and odorous water treatment: Recently, the Ministry of housing and urban rural development and the Ministry of ecological environment jointly issued the notice on the implementation plan of fighting for urban black and odorous water treatment, proposing that county-level cities should complete the investigation of black and odorous water in built-up areas and formulate urban black and odorous water treatment plans by the end of June. By 2025, the proportion of black and odorous water in built-up areas of county-level cities will reach 90%, including Beijing, Tianjin and Hebei The Yangtze River Delta and the Pearl River Delta strive to complete one year ahead of schedule.
Strengthen the supervision mechanism of hazardous waste treatment process: Recently, the work safety committee of the State Council issued the national work safety plan for the 14th five year plan, which proposed to strengthen the supervision of the whole process of hazardous waste, and suggested that the hazardous waste departments should cooperate, jointly enforce the law, and form a regional consultation and supervision mechanism for major cases, so as to form a supervision system covering the whole process of hazardous waste generation, collection, storage, transfer, transportation, utilization and disposal.
The environmental protection sector recommends the main business of waste incineration power generation to enter the [ Wangneng Environment Co.Ltd(002034) ] of new energy lithium battery recycling and open up performance growth space.
Market information tracking:
1) carbon market tracking: this week, the total turnover of the national carbon market carbon emission quota (CEA) was 376000 tons, with a total turnover of 214806 million yuan. As of this week, the cumulative trading volume of the national carbon market carbon emission quota (CEA) was 189542000 tons, with a cumulative turnover of 8.238 billion yuan. From the perspective of regional market, Hubei has the highest trading volume of carbon emission rights, which is 283500 tons, while Shenzhen and Tianjin have no trading volume this week. In terms of the average transaction price of carbon emissions, the highest average transaction price is 80.90 yuan / ton in Guangdong market and the lowest is 5.68 yuan / ton in Shenzhen market.
2) natural gas price tracking: the overall price of LNG in China shows a downward trend. According to the data released by Zhuo Chuang information, the weekly average price of national LNG ex factory transaction this week was 769098 yuan / ton, down 286.47 yuan / ton month on month, down 3.59%; Among them, the weekly average ex factory price of the terminal was 867000 yuan / ton, a month on month decrease of 72.07 yuan / ton, a decrease of 0.82%; The average weekly ex factory price of the factory was 709518 yuan / ton, down 428.66 yuan / ton, or 5.70%.
3) coal market price tracking: coal prices continued to decline this week: according to the data released by the coal resources network, the cci5500 comprehensive price index this week was 792 yuan / ton, unchanged month on week. From the point of origin, Yulin 5800 kcal index was 985 yuan, with a decrease of 76 yuan on a weekly basis 6 Hitevision Co.Ltd(002955) 500 kcal index was 813 yuan, with a week-on-week decrease of 102 yuan; Datong 5500 kcal index was 965 yuan, down 42 yuan on a weekly basis. With the slowdown of coal mine shipments caused by epidemic control and other factors, coal prices were further reduced.
Portfolio
\u3000\u3 Jointo Energy Investment Co.Ltd.Hebei(000600) 803+ China National Nuclear Power Co.Ltd(601985) + China Three Gorges Renewables (Group) Co.Ltd(600905) + Huaneng Power International Inc(600011) + Wangneng Environment Co.Ltd(002034)
Risk tip: the policy promotion is less than expected, the project operation progress is less than expected, the power coal price rises, the water supply of hydropower is less than expected, and the electricity price is at risk of reduction.
