The general trend of coal power joint venture

2022-08-02
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Merger and reorganization is the general trend of coal power joint operation to benefit coal and enterprises.

coal capacity reduction is on the way. On January 22, yanpengcheng, director and spokesman of the Political Research Office of the national development and Reform Commission, said at the first regular Theme Conference of the national development and Reform Commission in the new year that since 2017, the national development and Reform Commission and relevant member units of the inter ministerial Joint Conference on capacity removal have guided all localities and central enterprises to solidly promote coal Iron and steel and coal power industries to work capacity. From the current situation, through the joint efforts of all relevant departments in all regions, the annual goals and tasks of the coal industry of more than 150million tons and the coal power industry of 50million kilowatts set in the 2017 government work report have been exceeded

in order to further drive the coal industry and electric power industry towards high-quality development, coal enterprises are merged, reorganized and upgraded, and coal power pool may be an important way. Recently, the national development and Reform Commission and other 12 ministries and commissions jointly issued the opinions on further promoting the transformation and upgrading of coal enterprises' merger, reorganization (hereinafter referred to as the opinions), which clearly proposed to support the implementation of merger and reorganization among qualified coal enterprises or merger and reorganization with enterprises related to the industrial chain. Among them, the opinions specifically proposed to support the development of coal power pool. Insiders emphasized that the merger and reorganization and coal power joint venture will promote the more orderly development of the coal market, and play a positive role in the future national macro-control to more accurately grasp the coal production capacity and realize the effective performance of medium and long-term coal power contracts

the merger and reorganization of coal enterprises is of great significance

China is the world's largest country in coal production and consumption, but it is an indisputable fact that coal enterprises are large but not strong, and most of them are difficult to survive. How to solve the problem? The opinions encourages coal enterprises to carry out horizontal and vertical restructuring, expand scale and improve quality. By 2020, we will strive to form a number of Super Large 100 million ton coal enterprise groups with strong international competitiveness, and develop and cultivate a number of modern coal enterprise groups. It is widely predicted in the industry that if the opinions is successfully implemented, a number of large and powerful modern coal enterprise groups will reshape the industry pattern

relevant persons from the operation Bureau of the national development and Reform Commission pointed out that promoting the merger, reorganization, transformation and upgrading of coal enterprises is the only way to continuously increase the high-quality coal supply, improve the supply quality and ensure energy security, and support large power generation enterprises to restructure coal enterprises

the issuance and implementation of the opinions will have an important impact on the healthy development of coal and related industries:

the concentration of coal industry will be further improved. With the promotion of capacity reduction, the number of coal mines nationwide has decreased from 10800 in 2015 to about 7000 in 2017. The implementation of the merger and reorganization of coal enterprises will further improve the industrial concentration, the average scale of coal enterprises will be significantly expanded, and the number of medium and low-level coal mines will be significantly reduced

the coal industry pattern will be further optimized. From the perspectives of resource endowments, development intensity, market location, environmental capacity, transportation channels, etc., the opinions comprehensively considered the differences among different regions, supported relevant regions to appropriately expand the scale through mergers and acquisitions, and some regions to moderately control, reduce the production scale or even close down and exit, so as to further realize the optimal layout of the coal industry

the integration of upstream and downstream industries will be further improved. The opinions clearly supports the implementation of merger and reorganization among qualified coal enterprises, the development of coal power joint ventures, the merger and reorganization of coal and coal chemical enterprises, and the merger and reorganization of coal and other related industrial enterprises

in terms of coal and electricity joint operation, the opinions proposed to promote the long-term stable, scientific and reasonable purchase and sales relationship of coal and electricity enterprises to carry out joint operation in combination with the transportation pattern of coal and electricity, focusing on the central and eastern regions, and support large power generation enterprises to reorganize coal enterprises. These measures are an important means to ensure the coordinated, sustainable and healthy development of the coal and power industries. They are not only conducive to easing the contradiction between coal and power, optimizing resource allocation, but also help the coal industry to resolve low-end inefficient production capacity and increase effective supply

coal power pool faces new opportunities

industry insiders say that coal enterprises and power enterprises are on both sides of the coal price. In order to further boost the development of the coal industry and power industry, coal power pool may be an important way for the merger, reorganization and upgrading of coal enterprises

in the past decade, the work on the merger and reorganization of coal enterprises has not stopped. However, compared with the previous policies, the opinions has not only been jointly issued by as many as 12 departments, but also the measures have been more detailed. It is not surprising that the opinions on the merger and reorganization of coal enterprises will be released at the beginning of the 2018 new year. In fact, the upsurge of resolving coal overcapacity last year and the fact that coal prices rose sharply due to the imbalance between supply and demand have pushed coal enterprises to the forefront of further mergers and acquisitions

Youmin, Secretary General of China Electric Power Development Promotion Association, said that the opinions is an important measure for the coal industry to implement the national supply side structural reform and promote the "three deregulations, one reduction and one subsidy", which is of great significance to the structural adjustment and industrial upgrading of the coal industry. It will promote the more orderly development of the coal market, and play a positive role in the future national macro-control to more accurately grasp the coal production capacity and realize the effective performance of medium and long-term coal power contracts

in the opinion of many industry experts, the opinions has carefully planned the objectives, tasks and approaches of coal merger and reorganization. The scale of super large coal mining enterprise groups is "100 million tons", and it clearly puts forward that "the average scale of coal enterprises will be significantly expanded, the number of medium and low-level coal mines will be significantly reduced, the integration of upstream and downstream industries will be significantly improved, the economic vitality will be enhanced, and the industrial pattern will be optimized" and "a number of modern coal mining enterprise groups will be developed and cultivated."

among them, the opinions specifically proposed to support coal and power enterprises to actively develop coal and power joint ventures by means of merger and reorganization, investment purchase, holding and equity participation, etc

in fact, the coal and electricity joint venture started in 2017 with the reorganization of Shenhua and Guodian to achieve the automatic uniform cooling and constant temperature combination of samples. On november20,2017, China Guodian group and Shenhua Group announced the formal restructuring to establish the national energy group. The combined assets of the two groups exceeded 1.8 trillion yuan, thus becoming the world's largest coal production, thermal power generation, renewable energy power generation, coal to liquid and coal chemical companies

qiuhanying, an analyst at Sichuan finance securities, analyzed that the implementation of coal electricity joint venture can not only solve the contradiction between coal and electricity, but also create more benefits. It is a correction for the excessive division of coal and power generation industries under the original system. Considering the positive attitude of the regulatory authorities towards the joint operation of coal power, which can be used for metal skin panels and other products in the transportation and construction industries, more coal power joint operation projects may be promoted in the future, and the pace of coal power joint operation will be accelerated. In the future, the mode of coal and electricity joint operation is not limited to coal and electricity merger, but also mutual participation of coal and electricity. At present, a variety of joint venture modes have emerged nationwide, mainly including Shenhua mode - coal enterprises holding shares and building power stations; Shanxi Coking Coal model - coal enterprises build power stations; Luneng mode - electric power enterprises set up coal mines; Yimin mode - integration of coal and electricity, unified operation and centralized holding by power group; Huainan mode - coal power enterprises cooperate to build new coal mines or power stations, "xiaoyaqing said

at the same time, the coal power pool should also be promoted orderly and step by step to avoid new problems in the coal, transportation capacity and power industries in the short term. You min believes that the coal power pool should take the effective operation of the market mechanism as the premise and consider the effective and sufficient competition in the thermal power market. For the construction of enterprise credit system in the field of power coal, it is suggested to refer to the e-commerce model and use the means of "Internet +" to automatically generate data and information, so as to make the construction of market systems such as government, enterprises and industry associations more standardized, transparent and efficient

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