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The much-anticipated Fifth Plenary Session of the 19th CPC Central Committee reviewed and approved the “14th Five-Year Plan” and the recommendations for the long-term goals for 2035，Drawed a grand blueprint for our country’s future development。
2020 is the year of decisive battle for our country to build a moderately prosperous society in an all-round way，It is also the final year for my country to complete the “Thirteenth Five-Year Plan”。
Especially the super "black swan" of the new coronavirus epidemic that emerged at the beginning of this year has brought great consequences to international geopolitics、Global economic and social development has brought huge impacts and negative impacts，Resulting in a significant increase in uncertainty in the global energy and power investment and construction market。
Facing the increasingly complex development environment at home and abroad，As the "pioneer" of national economic development, the power investment and construction industry should better follow the new development concept、High-quality development concept and general requirements of the new development pattern，Comprehensive construction of clean and low-carbon、Safe and efficient energy supply system，Provide a strong driving force for my country’s socialist modernization construction。
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(1) Major achievements in my country’s power investment and construction during the “Thirteenth Five-Year Plan”
The scale of power investment and construction declined but increased。2016 to January to September 2020，NationwidePower engineering constructionCompleted investment reached 884 billion yuan respectively、823.9 billion yuan、812.7 billion yuan、829.5 billion yuan and 598.1 billion yuan，An increase of 3 respectively compared with the same period last year.1%、-6.8%、-1.4%、1.6%、26.08%，Showing a trend of declining for the first three years and rising for the next two years。Among them，Power investmentreached 340.8 billion yuan respectively、290 billion yuan、278.7 billion yuan、328.3 billion yuan、308.2 billion yuan，An increase of -13 compared with the previous year respectively.4%、-14.9%、-3.9%、71.51% (see Table 1)；Power grid investment reached 543.1 billion yuan respectively、533.9 billion yuan、534 billion yuan、501.2 billion yuan、289.9 billion yuan,17 more than the previous year.2%、-1.7%、0%、-6.7%、-0.02%。
Overview of the power investment and construction process during the “Thirteenth Five-Year Plan” period，Although power grid investment shows a downward trend year by year，But the annual power grid investment has always been much higher than the power supply investment。The reason why power investment increased rapidly in the first nine months of 2020，It is due to the impact of the National Development and Reform Price [2019] No. 882，Onshore wind power projects approved before 2018 must be completed and connected to the grid before the end of 2020，Otherwise the state will no longer subsidize，At the same time, investment in hydropower and photovoltaic power generation projects also increased significantly compared with the same period last year。
Power investment and construction structure are becoming increasingly reasonable。2016 to 2020，The national full-scale power generation installed capacity is 16.5.1 billion kilowatts、17.77kW、19.0 billion kilowatts、20.1 billion kilowatts、seabet io20.9 billion seabet casino reviewkilowatts (as of the end of September 2020)，An increase of 8 compared with the previous year respectively.2%、7.7%、6.5%、5.8%、5.9% (see Table 2 and Figure 1)；The annual newly installed power generation capacity is 121.43 million kilowatts、131.18 million kilowatts、127.85 million kilowatts、105 million kilowatts、75.45 million kilowatts (January-September 2020)，Among them，Thermal power (coal-fired and gas-fired power generation) newly installed power generation capacity is 50.48 million kilowatts respectively、44.53 million kilowatts、43.8 million kilowatts、44.23 million kilowatts、31.83 million kilowatts (January-September 2020)，Non-fossil energy power generation (including hydropower、Wind power、Photovoltaic, etc.) newly installed power generation capacity is 70.95 million kilowatts、90.44 million kilowatts、86.47 million kilowatts、64.69 million kilowatts、43.62 million kilowatts (January-September 2020)。Overall，During the “Thirteenth Five-Year Plan” period, my country’s electricity supply and demand situation is generally relatively loose，The effect of resolving coal power overcapacity is more obvious，The green and low-carbon features of the power structure are increasingly emerging。
The level of power grid investment and construction continues to improve。2016 to 2019，The length of newly added AC 110 kV and above transmission lines and the capacity of transformer equipment across the country reached 56,679 kilometers and 345.85 million kVA respectively、58084 kilometers and 325.95 million kVA、56973 kilometers and 310.24 million kVA、57935 kilometers and 319.15 million kVA，From January to September 2020, the length of new transmission lines and substation equipment capacity of 220 kV and above nationwide reached 25,450 kilometers and 162.02 million kVA respectively，Continue to maintain a stable and orderly development trend。During the “Thirteenth Five-Year Plan” period, my country’s investment and construction in the UHV field was approximately three times that of the “Twelfth Five-Year Plan” period，The number of newly put into operation UHV AC or DC lines reaches 3 respectively、7 items、2 items、4 and 6，Greatly improves the power grid’s ability to optimize cross-regional power allocation and clean energy consumption。Also，The transformation of the power grid in central villages in small towns across the country has been completed，Electrification of wells in plain areas achieves full coverage，Poverty-stricken villages have access to electricity，The universal power service capability and system peak shaving capability are comprehensively enhanced。
Power investment and construction costs are rising steadily。The first four years of the “Thirteenth Five-Year Plan”，Final unit cost of major power supply projects in my country:Coal-fired power stationUnit completion costs generally increased slightly，There is a slight fluctuation in the unit completion cost of gas-fired power stations，The completed unit cost of hydropower stations is stable but declining，The unit completion costs of onshore wind power and waste-to-energy plants are rising steadily，Offshore wind powerThe completion cost of the Hezhou Straw Power Generation Unit is stable but declining，The unit completion cost of nuclear power plants has dropped relatively significantly，The unit completion cost of photovoltaic power generation projects has dropped most significantly；In terms of the final unit cost of power grid projects: the unit completion cost of transmission lines is affected by the material price、Affected by factors such as engineering terrain and conductor cross-section，Showing a slight upward trend；The completed cost of substation units is declining except for the 750 kV level，The completion cost of other substation units is affected by the main transformers of different voltage levels、There is a certain increase due to the increase in circuit breaker prices；After the unit completion cost of the converter station reached a historical high in 2017，Showing a sharp decline in 2018，Another slight increase in 2019。Overall，During the “13th Five-Year Plan”，Except for the obvious decrease in the unit cost of photovoltaic power plants，The change in unit cost of other types of power projects is not very obvious，How to effectively reduce the unit cost of power projects is still a "big article" worthy of in-depth discussion。
International power investment and cooperation continues to increase。The first four years of the “Thirteenth Five-Year Plan”，my country’s major power companies have actually completed 77 foreign investments.USD 8.5 billion、19.3 billion US dollars、57.USD 900 million、42.USD 600 million，A year-on-year increase of 168 respectively.66%、147.91%、-70%、-26.4%。As of the end of 2019，The total actual foreign investment of my country’s major power companies has reached 878.USD 500 million，Promoted labor services、Standard、Technology、"Going out" of equipment。The main areas of overseas investment by my country’s power companies involve thermal power、Europe、New energy、Power transmission and transformation and mineral resources and other fields。Southeast Asia、South Asia、Europe、South America and other countries along the “Belt and Road” are key areas for investment by my country’s power companies。State Grid、Southern Network、Three Gorges Corporation、CGN、State Power Investment Corporation and other power companies’ foreign investment rankings are relatively high。Investment seabet live casinomethods seabet clubare dominated by greenfield investments such as BOT，M&A、Share participation and other investment methods are important supplements to overseas investment。
(2) Characteristics and problems of my country’s power investment and construction during the “13th Five-Year Plan”
Through the above analysis，my country’s “Thirteenth Five-Year Plan” power investment and construction generally presents the following main characteristics: First, compared with the “Twelfth Five-Year Plan” power investment，During the “Thirteenth Five-Year Plan” period, grid investment has always been higher than power supply investment，And the gap between the two has a tendency to widen further；The second is in power investment，Renewable energy investment dominates，The proportion of traditional thermal power investment decreases year by year，Nuclear power investment projects restarted in 2019 after years of interruption，The proportion of non-petrochemical installed capacity increases year by year；The third is with the continuous progress of electric power technology，The cost of photovoltaic power generation units is declining，But subject to raw materials、Hedging against labor price increases and other factors，Europe、The unit cost of thermal power and power grid has not changed significantly，The cost per unit of electricity is still relatively high；Fourth, with the promotion of the “Going Out” strategy and the intensification of Sino-US economic and trade frictions，Overseas power investment and construction show a trend of increasing and then decreasing。
Overall，During the “Thirteenth Five-Year Plan” period, my country’s power investment and construction has achieved world-renowned achievements，However, we also clearly realize that there are still many problems in my country’s power investment and construction: First, the investment and construction of power grids is mainly based on the main power grid，Distribution network investment obviously lags behind，The unbalanced contradiction in power grid development is more prominent；Second, the pressure on energy conservation and emission reduction is still great，As of now, there are still more than 200 million kilowatts of coal power installed capacity that have not yet achieved ultra-low emissions，There is still a long way to go to eliminate backward production capacity；Third, new energy investment and construction are greatly affected by policies，Wind power、Photovoltaic power generation “rush to install” occurs frequently，brings greater uncertainty to normal investment and construction activities；Fourth, the degree of internationalization of electric power is still low，Especially due to the resurgence of trade protectionism caused by the Sino-US trade war and the new crown epidemic，It is increasingly difficult for electric power to “go global”，The risks of overseas investment and construction of electric power have increased significantly。
The development goals and prospects of my country’s power investment and construction during the “14th Five-Year Plan”
(1) The development goals of my country’s power investment and construction during the “14th Five-Year Plan”
Follow the new development concept、New development pattern and high-quality development concept，Conscientiously implement the "Four Revolutions" proposed by General Secretary Xi、The major energy strategic thought of "one cooperation"，In accordance with the requirements of a national game of chess，Resolutely go green and low-carbon、The road to clean and efficient power transformation，Accelerate the establishment and improvement of the power investment governance system、Scientific selection of power investment direction、Continuously optimize the power investment structure、Expand the scale of effective power investment、Effectively promote the transformation and upgrading of power investment，Continuously improve the modernization level of electric power technology，Strive to build a safe and efficient power supply guarantee system，Promote the “Advanced Basic Power Industry” in an all-round way、The modernization level of the industrial chain has been significantly improved”，Finally achieve high-quality development of the power industry，Provide solid electric support and power guarantee for the goal of building our country into a prosperous, democratic, civilized, harmonious and beautiful modern socialist country by the middle of this century。
(2) Main trends in my country’s power investment and construction during the “14th Five-Year Plan”
1. The "dual cycle" development pattern will become the fundamental direction of my country's power seabet myinvestment and construction。Electricity is a key part of forming a large domestic consumer market。During the "14th Five-Year Plan"，Domestic final consumption will become the "ballast stone" for my country's economic growth，Power investment and construction with electricity substitution and energy saving and consumption reduction as the core will promote consumption upgrade、An important starting point to achieve “six guarantees” and “six stability”。
2. High-quality development will become an inherent requirement for my country’s power seabet myinvestment and construction。Green (low carbon)、Safety、Efficient、Economy will still be the important connotation and essential requirement of power investment and construction in the “14th Five-Year Plan”，Green (low carbon) is the direction、Safety is guaranteed、Efficiency is fundamental、Economy is a requirement，These four are mutually reinforcing，Organic unity，Don’t be partial to neglect。
3. Multi-level power market will become a practical seabet online casinoneed for my country’s power seabet myinvestment and construction。During the "14th Five-Year Plan" period, our country will fully build a national state、Province、Municipal and other multi-level power trading centers，Medium and long-term futures、In stock、Capacity、Multi-dimensional power markets such as carbon trading and ancillary services operate organically，The facilitation of power transactions is conducive to promoting the sustainable development of power investment and construction。
4. Mathematical transformation will become a key force in my country’s power seabet myinvestment and construction。The integration of energy revolution and digital revolution is the general trend。During the "14th Five-Year Plan"，Accelerate the digital transformation, investment and construction of traditional power，will become the only way to promote power transformation and power management reform，Make my country’s electric power development more flexible、Interconnection、High-end and efficient。
5. High-level opening up and cooperation will become the distinctive features of my country’s power seabet myinvestment and construction。Follow "discussion together"、Co-construction、The concept of “sharing”，Form a larger area、Wider area、Deeper new pattern of electric power opening，Two-way drive through “bringing in” and “going out”，Continuously open up new prospects for win-win international power cooperation。
(3) Development Prospects of my country’s Electric Power Investment and Construction during the “14th Five-Year Plan”
1. Pay attention to the application of digital technology，Taking the road of smart power development。
“New infrastructure” gives birth to new electricity。While the new crown epidemic has dealt a heavy blow to traditional industries，Also let the new economy represented by the digital economy usher in a bright moment。During the "14th Five-Year Plan"，Our country will use greater courage to implement modern information technologies such as "Cloud Big IoT Smart Chain" on a larger scale in the electric power field、Application on a wider scale，Accelerate the promotion of smart power (factory) plants、Smart Grid、Intelligent operation and maintenance、Smart construction site、Power service cloud platform and other construction，Comprehensively enhance the digitalization of my country’s electric power、Network and intelligence level，Coordinated promotion and “electricity”、Qi、hot、Horizontal tight coupling of multiple networks such as Xinjiang and others、Same as "source、网、Holland、Vertical, efficient and deep integration of storage and other links，Realizing the Internet of Everything in all aspects of the entire energy and power system、Human-computer interaction，Build more reliable、Safety、Smart、Efficient global energy and power Internet，And provide users with the help of shared data、Power Grid、Power generation、Suppliers and governments etc. provide peer-to-peer、End-to-end service，Further improve the comprehensive service level and grade of electric power，Enhance the overall operating efficiency of the power system in an all-round way。
2. Strive to create clean electricity，Take the road of low-carbon power development。
The “carbon peak” proposed by General Secretary Xi、Two hard goals of carbon neutrality，It is our country’s solemn commitment to the world，It is also a political task that the Chinese people must complete。This requires the power industry to accelerate the transformation from fossil power to zero-carbon power during the "14th Five-Year Plan" period: First, further improve water energy on the power production side、Nuclear energy、Photovoltaic、Wind power、Proportion of installed capacity such as biomass that produces almost no carbon dioxide，Gradually reduce oil、Coal、Proportion of installed capacity such as natural gas that produces medium to high carbon dioxide，And increase the technological transformation of existing petrochemical power stations and the elimination of backward power production capacity，Maximize fuel consumption per kilowatt hour；The second is to carry out all-round energy conservation and consumption reduction work on the power consumption side，Try to avoid the occurrence of leakage and leakage，Because energy saving is the biggest "environmental protection" way，Consumption reduction is the most effective means of "emission reduction"；The third is to increase the technological transformation of the power grid on the power transmission side、Accelerate the research and development and application of new power transmission technologies such as superconductivity，Reduce the line loss rate in each link of "power transmission, transformation, distribution and consumption" as much as possible；The fourth is to step up technological research and development such as “carbon capture and storage” on the technological innovation side，Make the technology more mature and economically reasonable、Technical safety and marketing。
3. Accelerate the reform of the electric power system，Take the road of market-oriented power development。
Break the "unified purchase and sales" of electricity、The realization of a market-oriented power trading system is the "slope" that must be climbed and the "hump" overcome to deepen the reform of the power industry during the "14th Five-Year Plan"，The ultimate goal is to let the market play a decisive role in the allocation of power resources，Building a social network seabet.comwith Chinese characteristics、Perfect seabet clubpower market system: First, increase incremental power distribution pilots，Improving the power spot trading system，Accelerate the development and consumption plan，Let more electricity users directly participate in transactions in the primary electricity market on a larger scale，Truly establish a pluralistic subject、Full competition、Effectively managed power spot trading market；The second is to accelerate the construction of a power futures trading mechanism，Build a reasonable transaction structure，Enrich and optimize trading varieties，Take full advantage of futures in discovering prices、The role of hedging risks，Finally establishing openness and transparency、Unified and standardized power futures trading market，This is also an important part of the mature power market；The third is to effectively play the role of government guidance and supervision，Clear the role of government departments in power regulation，Effectively strengthen the access of market entities、Trading Rules、Trading Contract、Pre-event and post-event supervision of transaction prices；The fourth is to give full play to the role of social intermediary organizations，Accelerate the establishment of corresponding third-party supervision mechanisms、Supporting mechanisms such as breach of contract punishment mechanism and credit evaluation mechanism。
4. Empowering new power industry formats，Taking the road of diversified power development。
During the "14th Five-Year Plan"，my country’s energy revolution and electric power transformation will come to the forefront，This means that traditional coal power generation is affected by the increasing efforts to eliminate backward industries，Investment will be greatly restricted，The proportion of power generation will further decrease；Hydropower plays a more prominent role in power peak regulation，Investment and development, especially investment in pumped storage power stations will rise steadily；The pace of nuclear power investment and construction is expected to stabilize，The proportion of power generation has been increased accordingly；New energy investments such as wind and solar are coming with the advent of the era of affordable Internet access，Investment is expected to win explosive growth，The proportion of power generation will be greatly increased。Meanwhile，Hydrogen energy、Fuel cell、New energy sources such as chemical energy storage and electricity replacement business represented by charging piles will usher in historic breakthroughs，Becoming another “new fertile ground” for power investment and construction，There is also a collection of green、Efficient、Integrated energy systems where wisdom equals one will become an important direction for the transformation and development of energy and power investment。During the "14th Five-Year Plan" period, my country's power structure will gradually transform from traditional fossil fuel-based power to clean, low-carbon renewable energy power，The power industry is more colorful。
5. Promote international power cooperation，Taking the road of international electric power development。
Although international trade protectionism tends to resurface in the post-epidemic era，However, the international development of electric power is still in a period of important strategic opportunities。
First, adhere to the principle of consultation、Co-construction、Principles of Sharing，Increase the power investment layout in countries along the “Belt and Road”，Promote my country’s electric power technology、Equipment、Engineering、The entire industry chain including standards and operation and maintenance is “going global”，Effectively enhance my country’s voice in the international power market。
The second is to actively promote the interconnection of power grids between my country and neighboring countries，Continuously expanding the scale of international power trading，Building closer cross-regional power cooperation。
The third is to give full play to our country’s advantages in forming the most complete series of electrical equipment products in the world，By investing in overseas factories and building electric power industrial parks，Further consolidate my country’s position in the international electrical industry chain。
The fourth is to give full play to my country’s strong power infrastructure capabilities，Provide packaged and personalized solutions for overseas owners，Promote my country’s status as the main force in global power construction。
In a nutshell，During the "14th Five-Year Plan"，Our country will be more proactive in integrating into the world’s electric power division of labor system，Increase power exchanges and cooperation with the world, especially neighboring countries，Better serve the smooth realization of the country’s global strategic goals。
Source: Energy Magazine
