Chongqing Three Gorges Water Conservancy And Electric Power Co.Ltd(600116) the price of electricity sold in 2021 rises simultaneously

Chongqing Three Gorges Water Conservancy And Electric Power Co.Ltd(600116) on January 13, the completion of power generation, on grid power and power sales in 2021 was announced. Among them, the company achieved power sales of 13.2182.1 billion kwh, a year-on-year increase of 16.72%; The average selling price of electricity was 0.4388 yuan / kWh (excluding tax), a year-on-year increase of 5.74%.

In this regard, the company said that on the one hand, the increase in power sales was affected by the market situation. Users in the network improved capacity utilization and power consumption increased year-on-year; Second, major customers were less affected by the epidemic this year and fully resumed work and production. The main reasons for the year-on-year increase in the average electricity selling price are as follows: first, in 2021, the electricity selling price of some users was increased in accordance with the notice on further deepening the market-oriented reform of on grid electricity price of coal-fired power generation (fgjg [2021] No. 1439) issued by the National Development and Reform Commission and the notice on adjusting the sales price of industrial and commercial catalogue (yfgg [2021] No. 1330) issued by Chongqing development and Reform Commission, Conduction of rising power purchase price; Second, according to the electricity price linkage mechanism between network enterprises, the sales unit price for some users such as electrolytic manganese, industrial silicon and ferroalloy has been increased.

However, affected by the decrease of water inflow in the basin where its hydropower stations are located, the hydropower stations of the company’s subsidiaries and holding companies have completed a total power generation of 278147 million kwh, a year-on-year decrease of 5.62%; The accumulated on grid power was 2.75287 billion kwh, a year-on-year decrease of 5.64%.

The latest financial report shows that in the first three quarters of 2021, Chongqing Three Gorges Water Conservancy And Electric Power Co.Ltd(600116) achieved an operating revenue of 7.135 billion yuan, a year-on-year increase of 150.85%; The net profit attributable to the parent company was 811 million yuan, a year-on-year increase of 111.23%; The net profit after deducting non profit was 655 million yuan, an increase of 123.43%, and the earnings per share was 0.42 yuan.

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