National Energy Administration Sets Target: Computing Power Electricity Consumption to Increase by Over 100 Billion kWh Annually; Green Power Sector Rallies Against the Trend

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The National Energy Administration has made clear that during the "15th Five-Year Plan" period, computing power electricity consumption will increase by more than 100 billion kWh annually on average. The green power concept was active against the trend in early trading, and institutions predict that 4 stocks are expected to double their performance this year.

Computing power electricity consumption will increase by more than 100 billion kWh annually on average

Dragged down by overseas stock markets, A-shares opened sharply lower across the board today. The green power sector pulled up against the trend at the start of trading. Xinneng Co., Li New Energy, and Dongfang New Energy all surged straight to the daily limit, while Huaneng Hydropower, Leshan Electric Power, Longjiang Transportation, Nenghui Technology, Jingang Photovoltaic and many other stocks followed the rally.

On the news front, Tan Hongjiang, deputy director of the Electricity Department of the National Energy Administration, recently said that with the rapid development of artificial intelligence, future demand for computing power electricity will continue to climb, and the synergy between computing and electricity will continue to deepen. It is expected that during the "15th Five-Year Plan" period, national computing power electricity consumption will increase by more than 100 billion kWh annually on average, reaching 800 billion kWh by 2030, accounting for about 6% of total social electricity consumption.

According to the National Energy Administration, as of the end of September, 24 provinces across the country had issued supporting policies for direct green power connections, and a total of 12 direct green power connection projects for computing power facilities had been approved, accounting for more than 10% of approved direct green power connection projects.

Electricity price signals are also recovering. In October, Guangdong's monthly medium- and long-term trading composite price rose to 0.457 yuan/kWh, 8.5 fen higher than the average annual contract price for 2026; Jiangsu's weighted average centralized bidding price rose to 0.395 yuan/kWh, up 16.0% year on year and 14.7% month on month, hitting a new high for the year.

There was also progress at the individual stock level. Xinneng Co., which surged straight to the daily limit at the start of trading, announced last night that the Lingwu Majiatan 240MW/480MWh energy storage station project and the Yanchi Gaoshawu 320MW/640MWh energy storage station project invested and built by its controlling subsidiary had both completed major equipment installation and commissioning and successfully achieved grid-connected operation.

Direct green power connections are accelerating, and an industry reversal is imminent

Green power refers to renewable energy generation assets such as wind power, photovoltaics, and hydropower, whose profitability depends mainly on utilization hours and electricity price levels.

The construction of the "15th Five-Year Plan" new power system anchors the new energy utilization rate target at around 90%, and makes clear that by 2030 the adjustment capacity of virtual power plants will exceed 50 million kilowatts and installed new-type energy storage will reach 300 million kilowatts.

Shenwan Hongyuan Securities pointed out that with the continued implementation of supporting policies for direct green power connections and computing-electricity synergy, as well as the advancement of ultra-high-voltage construction, the pressure on new energy consumption is expected to ease year by year. It is expected that the supply-demand pattern for new energy will improve in 2027, electricity prices will stabilize, and the industry will usher in a turnaround from difficulties.

Guosheng Securities also noted in its power industry weekly report that signals of rising electricity prices are strengthening, and suggested paying attention to expectations for subsequent profit repair in the sector.

In the view of Ping An Securities, with the further growth of computing power electricity demand and the gradual implementation of the direct green power connection model, energy storage, as an important facility for meeting the self-generation and self-consumption ratio requirements, is expected to see its demand space open up.

Huachuang Securities pointed out that the multi-user direct green power connection policy opens a second channel for wind and solar power beyond grid connection, and operators bound to new-type loads such as computing power, zero-carbon parks, and green hydrogen will benefit first; the marginal elasticity of the green power sector will come more from system adjustment capacity and load-side binding rather than simply newly added installed capacity.

The performance of multiple green power concept stocks is expected to multiply

According to the East Money concept sector, there are currently 180 stocks in the A-share market involved in the green power concept, with a total market value of about 6.22 trillion yuan. China Yangtze Power, CGN Power, Huaneng Hydropower, Huadian New Energy and others rank among the largest.

Since the beginning of the year, the green power concept sector has shown divergent trends, with fewer than 40% of concept stocks rising. In the first four trading days of this week, the sector rebounded noticeably, with as many as 157 stocks recording gains. Beijing Stock Exchange-listed Ainengju surged more than 62%, Xiaocheng Technology, which also carries the gold concept, rose nearly 30%, and 16 stocks including Jingang Photovoltaic, Huangshi Group, and Huadian Liaoning Energy all rose more than 10%.

From a capital perspective, East Money Choice data shows that this week a total of 13 green power concept stocks received more than 10 million yuan in net margin purchases. Among them, China Yangtze Power was increased by leveraged funds by 105 million yuan, Xiaocheng Technology and CNOOC were respectively snapped up for 97 million and 87 million yuan, and China National Nuclear Power, Chuantou Energy, Solar, and Meili Cloud all had net margin purchase amounts of more than 30 million yuan.

In terms of future growth potential, according to the consensus forecasts of 5 or more institutions, a total of 4 green power concept stocks are expected to see their performance double this year. Among them, institutions expect Lin Yang Energy's net profit to surge 2 times year on year, Binhua Group, GCL Energy Technology, and Jinkai New Energy to grow about 1.4 times for the full year, and TCL Technology, Panjiang Group, and Goldwind Technology to see forecast net profit growth of more than 40%.

(Source: East Money Research Center) Middle of the body Embedded advertisement