Formation Mechanism of External Electricity Price for Listed Hydropower Enterprises

Yangtze Power

1. Wudongde Hydropower Station

(1) Guangdong

Consumption of electricity: 19.8 billion kwh of priority power generation plan from 2021 to 2025, increasing by 10% year by year from 2022 to release part of the electricity

Composition of electricity price:

The part that has not been released: the landing electricity price is determined by the contract, and the on-grid electricity price is reversed to 0.3132 yuan/kWh

Released part: on-grid electricity price = basic coal-fired electricity price in Guangdong +/- the weighted average increase/decrease rate of medium and long-term transactions in the province or direct transactions with electricity sales companies to form on-grid electricity prices

(2) Guangxi

Consumption of electricity: 11.9 billion kWh priority power generation plan for 2021-2025

Composition of electricity price: The ground electricity price is determined by the contract, and the on-grid electricity price is reversed to 0.254 yuan/kWh

2. Baihetan Hydropower Station

(1) Zhejiang

Consumption of electricity: remaining electricity except 14 billion kwh

Composition of electricity price: The landing electricity price is determined by the contract, and the on-grid electricity price in the transitional period in 2021 will be reversed to 0.314 yuan/kWh

(2) Jiangsu

Consumption of electricity: remaining electricity except 14 billion kwh

Composition of electricity price: negotiated and formed according to the market mechanism

(3) Jiangxi

Consumption of electricity: remaining electricity except 14 billion kwh

Composition of electricity price: The landing electricity price is determined by the contract, and the on-grid electricity price in the transitional period in 2021 is reversed to 0.2111 yuan/kWh

3. Xiluodu Right Bank Power Station

(1) Guangdong

Power consumption: 30.5 billion kWh in 2021

Composition of electricity price: Guaranteed quantity and price electricity price implements the comprehensive on-grid electricity price guaranteed volume bidding approved by the government and the market-oriented electricity price is determined by negotiation between buyers and sellers

Huaneng Hydropower

1. Hydropower stations in the upper reaches of the Lancang River

(1) Guangdong

Consumption of electricity: 20 billion kWh in guaranteed quantity and price in 2021-2023

Composition of electricity price: 0.3 yuan/kWh electricity price with guaranteed quantity and price

Consumption of electricity: 2021-2023 guaranteed capacity bidding 3.6 billion kwh

Composition of electricity price: on-grid electricity price of electricity with guaranteed volume and bidding = on-grid electricity price of electricity with guaranteed volume and price sent to Guangdong by hydropower stations in the upper reaches of the Lancang River 0.3 yuan/kWh – weighted average decline in market-oriented transaction electricity in Guangdong Province in the current month

SDIC Electric Power Sichuan Investment Energy Co., Ltd.

1. Jinguan Power Pack

(1) Jiangsu

Power consumption: 6.4 million kilowatts installed power generation

Electricity price composition: Starting from August 2022, the on-grid electricity price is obtained by deduction of the landed electricity price minus the transmission and distribution price, and the landed electricity price = the benchmark landed electricity price + the floating electricity price

(2) Chongqing

Power consumption: 2 million kilowatts installed power generation

Composition of electricity price: 0.3201 yuan/kWh from July 2019

2. Ertan Hydropower Station

(1) Chongqing

Composition of electricity price: 0.2689 yuan/kWh from July 2019

Qianyuan Electric Power

Except Yutang, Qingxi, Niudu and other three hydropower stations, all other hydropower stations participated in the “Guizhou Electricity Transmission to Guangdong”

Composition of electricity price: Since its launch in 2000, based on Guangdong coal-fired benchmark electricity price, deduction of transmission and distribution price is reversed to obtain

#水电# $Yangtze River Power(SH600900)$ $Huaneng Hydropower(SH600025)$ $Qianyuan Power(SZ002039)$

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