中国火电行业报告2013.pdf

Thermal Power Generation in China in 2013 WWW.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 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, hydroelectric 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 electricity 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 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 also 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 forecast to total $300.8 billion. Key External Drivers The key sensitivities affecting the performance of the Thermal Powe