《中国火电行业报告2013》由会员分享，可在线阅读，更多相关《中国火电行业报告2013（33页珍藏版）》请在金锄头文库上搜索。
1、Thermal Power Generation in China in 2013WWW.IBISWORLD.COM.CN Thermal Power Generation in China January 2014 4 Industry Performance Executive Summary Power shortages, industry deregulation and the implementation of a market mechanism stimulated growth in Chinas power sector over recent years. These
2、deregulation measures, combined with increases in the number of thermal power generation plants, contributed to strong growth in revenue for the Thermal Power Generation industry. Over the past five years, industry revenue has been growing at an annualized rate of 10.3%. In the past two years, hydro
3、electric power output increased strongly, which negatively affected thermal power generation, however. In 2013, revenue from the Thermal Power Generation industry in China is estimated at $235.3 billion, up 6.0% from 2012. Thermal power generation accounted for about 78.6% of the countrys total elec
4、tricity generation in 2012, down from 83.2% in 2006 due to higher levels of output from the Hydroelectric Power industry (IBISWorld industry report 4412) and tighter energy-saving and emission-reduction regulations. The industry is expected to generate 4.15 trillion kilowatt-hours in 2013. Over the
5、next five years, the Chinese government will continue to emphasize hydroelectric power generation and limit the proportion of thermal power generation, as the latter is highly polluting. Government plans for the long-term development of renewable energy in China were implemented in 2006, and will al
6、so have an impact on the industrys development over the next five years. The government aims for 15.0% of the nations total energy to come from renewable sources by 2020 (IBISWorld industry report 4419). As a result, industry revenue growth is forecast to slow to 5.0% annually. In 2018, revenue is f
7、orecast to total $300.8 billion. Key External Drivers The key sensitivities affecting the performance of the Thermal Power Generation industry include: Competition from Substitutes - Thermal Power Generation - Hydro Power Generation The Chinese Government has set up a strategy for the power generati
8、on industry in the future. It encourages the development of hydropower generation and will limit the proportion of thermal power generation. Infrastructure - Electricity Distribution Network The electricity distribution network is not very well developed in China and limits the development of the th
9、ermal power generation industry. Demand and supply differ in different regions, and often some regions have shortages while others are in balance or are experiencing oversupply. The establishment of a complete nationwide electricity distribution network is important for the development of this indus
10、try. Per Capita Disposable Income Increasing levels of per capita disposable incomes stimulate demand for electronic products and, therefore, the per capita electricity consumption. Real GDP Real GDP is a measure of general economic activity. Growth in demand for electricity is very closely linked t
11、o overall economic growth. Strong, consistent GDP growth in China has contributed to the industrys development. Urban Population - % of Population in Metropolitan Areas The urbanization process in China increases the proportion of the urban population and, therefore, the consumption of electricity.
12、The percentage of urban residential consumption in total has been increasing in recent years. WWW.IBISWORLD.COM.CN Thermal Power Generation in China January 2014 5 World price of steaming coal Changes in coal prices directly affect the production costs of establishments within the thermal power gene
13、ration industry. Current Performance ACMR-IBISWorld estimates that revenue for the Thermal Power Generation industry increased from $144.1 billion in 2008 to $235.3 billion in 2013, representing annualized growth of 10.3% over the five- year period. Thermal power makes up the majority of the power s
14、upply in the country. China has one of the worlds fastest-growing economies and is the second-largest energy-consuming and power-generating country in the world. Demand determinants such as overall economic growth, increasing average per capita income, and rising electricity consumption have driven
15、the industrys development in the past five years. Due to environmental protection concerns, the Chinese government has implemented policies and measures to close small thermal power plants and prioritize other forms of energy generation. As thermal power generation in China is mainly coal-fired, it
16、is highly polluting. In 2003, the government started a new pollution charging system, revising emissions standards for thermal power plants. Government plans for the long-term development of renewable energy in China were established in 2005 and implemented in 2006. As part of the Chinese governments plan to develop sustainable power plants, it has been emphasizing hydroelectric power generation (IBISWorld industry report 4412) and lim
