Huadian Thermal Power Business Losses Over RMB 10 Billion Over the Year

As the end of the year is approaching, the amount of losses disclosed by power companies shrouded in the shadow of high coal prices is even more alarming.

At a high-level forum of Chinese energy companies recently held, an insider of Huadian Group disclosed that due to high coal prices, the group expects the loss in 2011 to exceed RMB 10 billion, and the group’s thermal power company suffered losses for the three years from 2008 to 2010. They were 64%, 33%, and 44%, respectively, and accumulated losses were as high as RMB 12.5 billion.

The above-mentioned sources told reporters that many of the group's current coal-fired power plants are incapable of repayment. “Even coal gangue is burning coal.” According to reports, Huadian Group's business is currently divided into four major sectors, including thermal power, coal, and finance. engineering. The thermal power business, as the main business stipulated by the State Council, is an overall loss. At present, the Group only makes profits from the other three non-core businesses.

Due to the indiscriminate coal price and the “price” of electricity prices, power companies have acquired coal mines and even operated their own coal operations to fill the gap caused by power generation.

“The current rise in coal prices has forced power generation companies to switch to dry coal mining,” said the above sources. “Now we are not working on many projects approved by the National Development and Reform Commission, and projects that are under construction have also been postponed from production because the date of production is At the time of the loss." On the other hand, banks that master the "money bag" actually support coal projects rather than power plant construction. "Banks now know that power plants do not make money, so they are reluctant to build power plants." The above person told this newspaper.

The five major power generation groups have been partially affected by the tightening of the capital chain. The above-mentioned sources told this reporter that some power plants of Huadian Group may not be able to pay wages in the future.

On the other hand, the new “Emission Standard of Air Pollutants for Thermal Power Plants” newly promulgated by the Ministry of Environmental Protection will be formally implemented in 2012, and people in the industry generally believe that for thermal power companies that have already suffered serious losses, this will undoubtedly become a crushed camel. The last straw.

An insider of the Huadian Group told this newspaper that the company's coal-fired and denitrification business will invest more than 10 billion yuan in capital, and the installed capacity per kilowatt will increase by about 150 yuan. At present, the rate of thermal power outages has reached 95%, but according to the newly released emission standards, existing off-site facilities must be rebuilt after July 2014. This will undoubtedly increase the cost. The environmental protection investment is mainly passed through ****, and the asset-liability ratio of power generation enterprises has entered high-risk areas. The denitrification units that have been put into operation will increase the denitrification cost of the power generation enterprises by 1 point per kilowatt-hour.

CCE Secretary-General Wang Zhixuan also told reporters that China's environmental protection reform is the continuous change of standards, equipment has also been changing, the cost has risen with a straight line.

As for the countermeasures, the insiders of the Huadian Group stated that the denitrification price has not been introduced yet, and the power plants are struggling. “I said to the people of the local environmental protection agency that you can find a bank to give us money? Now no bank is willing to give us money.”

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