China Energy Holds Analysis Meeting on Power Generation Situation

On March 17, China Energy Investment Corporation (China Energy) held a video conference on special analysis of the power generation industry. The meeting studied and judged the current situation of power production and operation, and made arrangement for power marketing in the next phase. Liu Guoyue, CEO of China Energy, delivered a speech at the video conference, which was presided over by Deputy CEO Mi Shuhua. The Industrial Coordination Department reported the group company’s power generation status in the first two months of 2020, and representatives from nine subsidiary companies including Guohua Electric Power spoke and shared their views.

Liu Guoyue pointed out that since the beginning of this year, the power generation situation of the group company has been greatly affected by the COVID-19 epidemic. Now, a positive trend has emerged as the epidemic prevention and control situation has seen steady improvement throughout the country, and the resumption of work and return to ordinary life have been accelerating. China Energy is paying equal attention to epidemic prevention and production resumption, striving to minimize the adverse impact of the epidemic. Given the increasing uncertainty in electric power production and sales which is closely related to the national economic development, Liu required all power production and marketing subsidiaries of the group to make in-depth study and judgment on the current status and leave no stone unturned to ensure the company’s annual power generation goals are achieved.

Liu stressed three points. First, in view of the new challenges arising in power marketing, efforts should be made to accurately grasp the current power production status, development trend of power grid, changes in market structure, and market positioning of thermal power plants, optimize the planning and arrangement of mining, power generation, port and shipping, expand power market, and improve the efficiency of integrated operation. Second, the company should adhere to the market-oriented direction and specialization principle in electric power marketing, participate in and support market-oriented reform, sharpen its competitive edge, and effectively improve its capacity in value creation. Third, it is important to adapt to the situation of power system reform and the requirements of the development of the regional power market, strengthen mechanism construction among power marketing units under the group, improve management and organizational efficiency, and take China Energy’s power marketing work to a new level.