十三五中国电力行业展望报告：利用小时承压；估值水平提供良好的介入时机.pdfVIP

2016 1 5 H A 5 10 2016 5~8% A+H 2015 0.5% 2015 64 34% 2016 2017 2015 4,329 4,195 3,950 305 600 2,260 8% 2016 2017 1) 0.03 0.01 /2) 2016 11%2017 3) 219 220 7 7 13 22 24 25 2016 350 26 27 32 33 35 35 2020 36 1: 5 2: 5 3: 6 4: 6 5: ... 7 6: 7 7: 8 8: GDP 8 9: 2012 8 10: 8 11: 2015 4 9 12: 9 13: GDP 2010 9 14: 2010 9 15: GDP 10 16: GDP 10 17: 20 10 18: 40% 10 19: 11 20: 2015 11 21: 11 22: 11 23: 12 24: 12 25: 12 26: 2020 13 27: 13 28: 2020 60% 13 29: 14 30: 14 31: 14 32: 2012~15 15 33: 15 34: 2015 155 16 35: 16 36: 16 37: 2012~2015 17 38: 2015 1~9 17 39: 18 40: 18 41: 19 42: 19 43: 19 44: 20 45: 20 46: 21 47: 21 48: LCOE 21 49: LCOE 22 50: 23 51: 23 52: 23 53: 23 54: 23 55: 3,533~3,800 23 56: 24 57: 24 58: 25 59: GDP 25 60: / 26 61: 27 62: 2014 28 63: 11 28 64: 2015 3