BEIJING, July 1 (Xinhua) -- China's listed power companies generated 281.5 billion kWh of electricity in total in 2019, reported Securities Daily Tuesday quoting a report by the consulting firm Ernst & Young (EY).
The report covers an analysis of 22 listed power companies in China, including nine focusing on fossil energy power generation, six focusing on new energy power generation, five focusing on hydropower and two focusing on nuclear power generation.
These companies boast a total installed capacity that accounts for 34.6 percent of the total installed capacity of China's power generation industry.
The electricity generated by China's listed power companies increased by 2.4 percent year on year in 2019, 8.1 percentage points lower than that of 2018, said Zhong Li, a EY Greater China partner.
These companies reaped a combined operating revenue of 121.37 billon yuan, up 5.6 percent year on year, and a combined net profit of 154.54 billon yuan, up 3.7 percent year on year, noted she.
Affected by the annual tax and fee reductions in 2018 and 2019 and the increasing proportion of market-based transactions, the grid-connected electricity prices of China's various listed power companies in 2019 remained generally stable, and the turnover days of accounts receivable of listed companies focusing on new energy power generation are significantly higher than the average level of all listed companies, Zhong added.
New energy power generation will remain a priority for China in the future, while fossil energy power generation will decline gradually and develop in a more environmentally-friendly and low-carbon way, said Yang Hao, another EY Greater China partner.
To promote the Belt and Road Initiative and international development, many listed power companies in China have turned their eyes to overseas project construction and operation, said Zhong. The impact of the COVID-19 epidemic on China's electricity consumption has weakened significantly as China has taken effective prevention and control measures, and China's listed power companies have set out to improve the value of the power generation industry as needed through new technologies such as artificial intelligence, big data, robot automation, etc., she added. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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