Firepower relies on "saving and using food" to turn losses into profits. "Throttle" is just a glass of water?

In the case of rising coal prices and inconsistent on-grid tariffs, the losses of thermal power plants have become the norm in the industry. However, in the case of a shout, there are also thermal power companies that have made a profit against the trend. Is this kind of profit typical? Is it just a special case, or a successful example in a loss-making thermal power company?

Datang Qitaihe Power Generation Co., Ltd., established in 1995 with a total installed capacity of 1900MW, is located in Qitai City, Heilongjiang Province, and is a pit-mouth power plant. According to media reports, "As of the end of October, after the record of monthly power generation and monthly profit in July, the company set a record high for the annual profit, with a profit of 101.6 million yuan, and achieved a profit of 100 million yuan for the first time in 15 years. In the loss of the thermal power industry, the news of the Qitaihe Power Generation Company's profitability against the market is particularly eye-catching.

Is battery grabbing an effective way?

In the profitable experience of Qitaihe Power Generation Company, increasing power generation is an effective way. According to reports, the company assigned a special person to be responsible for the coordination of power generation, coordination and coordination with the provincial network at any time, fully grasp the grid load space and timely load, and strive for grabbing, more power generation. According to the company's data, as of the end of October, the company has completed a total of 5.9582 billion kWh of electricity, setting a new record for the cumulative annual electricity.

However, it is not applicable to all enterprises to increase the revenue of enterprises by increasing the amount of electricity generated. It is special. This approach is related to the different on-grid tariffs in various regions of the current power system.

"In the current situation that the electricity price cannot be fundamentally adjusted, the power generation of power companies will have a certain positive effect on increasing the revenue of power generation enterprises to a certain extent." Cui Yuqin, a power industry analyst of Everbright Securities, told the China Energy News reporter, "But This also needs to distinguish the specific situation. If the local on-grid price can be higher than the cost of the enterprise, then the increase in power generation will certainly improve its operation to a certain extent; but if the electricity price is too low, it is far less than the operating cost of the enterprise, blindly additional It will definitely lead to further expansion of losses."

The premise of increasing power generation is the strong demand for electricity. "The overall electricity consumption situation in the Northeast is not very good, and it is actually very difficult to increase the amount of electricity generated," said an insider at Qitaihe Power Generation Company. Despite the implementation of the power generation trading system, there is still some waste in the northeastern region. This further restricts the possibility of increasing the amount of power generation to improve corporate performance and get rid of losses.

Coal blending is a helpless move
In the face of soaring coal prices, the ability to successfully control the fuel purchase price of the largest cost of thermal power companies has become the key to profitability. In the current context of rising coal prices, although major power generation groups are engaged in upstream industry chain mergers and acquisitions, trying to master coal resources. However, due to the long construction period of coal, many thermal power plants cannot immediately enjoy the coal supply of the group. Coal blending and burning, because it can effectively reduce the cost of fuel, has become the first choice of many thermal power companies.

The Qitaihe City, located in Heilongjiang Province, is rich in coal resources and is known as the “Northeast Coal City”. The area has excellent coal quality, complete varieties and a good resource environment for economic development.

However, for the Datang Qitaihe Power Generation Company located in Qitaihe City, the high-quality resources at the entrance cannot be fully utilized. Instead, it is necessary to go to Inner Mongolia to look for lignite with relatively low quality. The important reason is that the local The price of coal is too high for the company. If it is fully procured, the operating costs of the company will inevitably increase, which may cause losses.

"This kind of measure can really reduce the cost of the enterprise to a certain extent. At present, most thermal power companies in the country are doing it, for example, looking for low-quality lignite as a variety of blending. Because if it is all high-quality coal, the power generation enterprise The cost is too high to be profitable at all." Cui Yuqin told reporters.

Thousands of miles of coal has become an effective way for the company to solve high coal prices. Despite the freight problem, the company still chooses to look for coal in the field compared to the local high coal price. “The quality of our local coal is very good, but the price is definitely high. We have to find coal from Inner Mongolia, and now the province’s power companies are doing this,” the company said.

"However, coal blending requires a lot of cost of retrofitting equipment, which will increase the short-term burden of the company to a certain extent." Cui Yuqin said, "Although many companies in the country are doing this, they only reduce coal purchases to a certain extent." Cost, it is impossible to fundamentally solve the problem of high coal prices."

Limited equipment efficiency
Increasing the efficiency of existing equipment and minimizing costs can not be reduced, which has become another option for power generation companies. According to reports, Qitaihe Company's heat consumption of Unit 3 has been reduced by 273.965 kJ/kWh, and the heat loss value is solved by the problem of leakage of hydrogen from the generator side of the No.1 generator and the wear of the four tubes of the boiler. There was a drop of 113 kJ/kWh without a gas seal retrofit.

Industry analyst Cui Yuqin told reporters: "At present, many companies are reducing their operating costs by reducing energy efficiency. For example, the use of high-efficiency thermal power units. The 1 million-kilowatt unit has a standard coal consumption of 290 grams. However, there are more than 300 grams of 300,000 kilowatts. This transformation of equipment efficiency can still reduce costs to a certain extent."

Despite these measures, it is difficult for companies to achieve their goal of ending profitability through their own “throttle” as coal continues to rise.

"These measures are only a drop in the bucket, and can only reduce the losses of power generation companies to a small extent, and can not solve the problem fundamentally." Galaxy Securities analyst Zou Xuyuan told the China Energy News that "the current losses of thermal power companies are mainly concentrated in a few Areas, such as Shandong, Hebei, Henan, etc. The on-grid tariffs in these areas are very low, and in the business structure of the power generation group, thermal power accounts for 75% of its main business. So if the current price cannot be adjusted, in the coal In the case of continuous rise, it is difficult to achieve profitability through the adjustment of the company itself."

“Savings only increase profits in a limited way. They were profitable before because coal prices are not so high. But in recent years, coal prices have risen two or three times, while electricity prices have only increased by 20%-30%, if the current In this way, it is difficult for companies to change the situation of losses.” Cui Yuqin holds the same view.

"At present, the most effective way for enterprises to get rid of difficulties is to reduce the purchase price of coal, or to reduce the coal loss of the unit through technological transformation, but the technical reduction is difficult. If the industry chain is acquired, the investment cycle is long, and It is not always possible to get resources, so at present it seems very difficult for companies to turn losses into profits." Analyst Zou Xuyuan told this reporter, "For the entire industry, unless waiting for policy changes."

Edited
When the loss of the thermal power industry is no longer news, and the profit is only concerned by everyone, it shows that the industry has indeed had problems. As the success of a business, the most fundamental measure is profit. The current losses in many thermal power plants indicate that the problem in the industry is no longer a simple change in supply and demand. The rise in coal prices is an important reason, and the limitation of power generation is also an important reason. Of course, the company itself has inefficiencies due to poor management, and there are also factors that cannot be removed. But the biggest factor is the entire power system. The market's ability to adjust has long proved that the market is the most effective way to allocate resources. There is no doubt about this. The profitability of Qitaihe Power Plant has its own particularity. Although there is a certain reference value, this method can only be short-term and temporary for the whole industry. "Throttle" is not easy to use in the current situation, so "open source" may be the right choice. The major power companies have been transforming, trying to change the company's profit structure, actively develop new energy sources, carry out diversified operations, and practice this path. But how effective it is, we need to wait and see.

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