A few days ago, the interim performance of the "three oil barrels" has been released, and the operating efficiency has been significantly improved compared with the same period last year, and its outstanding results have been recognized by the media. As the foundation and most critical link of the new round of power system reform, the transmission and distribution price reform has taken another step forward a few days ago. In terms of power reform, the National Development and Reform Commission issued the "Notice on Comprehensively Promoting the Reform of Cross-Provincial Cross-Regional and Regional Power Grid Transmission Prices" on the 22nd, deciding to carry out cross-provincial cross-regional transmission price verification work, promote cross-provincial cross-regional power market transactions, and arouse the attention of many media. In terms of the nuclear power industry, the project of the Hinkley Point C invested and constructed by China General Nuclear Corporation is progressing smoothly. At present, the nuclear island corridor project has taken shape, and the construction of the main nuclear island project is expected to begin in mid-2019. See the following table for details on the hot topics in this issue.
Monitoring cycle: 2017.8.21-2017.8.27, data source: People's Daily Public Opinion Monitoring Office
"Three Buckets of Oil" interim performance was released, and the operating efficiency was significantly improved.
As of August 27, the interim performance of "Three Buckets of Oil" in 2017 has been "out of", and the operating efficiency has been greatly improved. In accordance with international financial reporting standards, in the first half of this year, CNPC achieved a net profit attributable to its parent company shareholders of 12.676 billion yuan, a significant increase of 12.145 billion yuan year-on-year; Sinopec achieved a net profit of 27.9 billion yuan, a year-on-year increase of 40.1%; CNPC turned losses into profits compared with the same period, achieving a net profit of 16.25 billion yuan. Data shows that the total net profit of the "three barrels of oil" in the first half of the year reached 56.8 billion yuan, equivalent to a daily profit of 310 million yuan.
[Public Opinion]
In 2016, due to the continued low fluctuation of international oil prices, the performance of the "three barrels of oil" was "terrible". Compared with the same period last year, this year's interim performance data finally "out of the trough". Regarding the reasons for the sharp increase in performance, experts said that, first, oil prices rose compared with last year's year-on-year; second, domestic oil and gas demand has increased, especially with the rapid advancement of domestic "coal to gas", natural gas demand has increased significantly; third, oil companies continue to increase their reform efforts and promote product structure optimization, and the overall cost reduction is relatively obvious. In addition to focusing on the comparison with the performance of the same period last year, many media have also paid attention to the gap between the "three barrels of oil". Regarding the reason why Sinopec's profits far exceed those of the other two companies, some media analyzed that it is due to Sinopec's integrated advantages and is less affected by the low oil prices.
Overall, the media gave high praise to the report card handed over by the three companies. Some media summarized the highlights of the three companies from different dimensions and praised them one by one: Sinopec's revenue and net profit scale was the highest, CNPC's net profit growth rate was the highest, and CNOOC turned losses into profits.
Although the performance in the first half of the year has improved significantly, the media is not blindly optimistic when looking forward to the second half of the year. Compared with the era of high oil prices, there is still a certain gap in oil prices at present. Some experts said that the current oil price trend is stable, with volatility declining, and subsequent profit growth may decrease. However, with the deepening of cost reduction and efficiency improvement and business adjustments, oil companies will become more and more resistant to low oil prices in the future.
[Analysis and judgment]
As of 17:00 on August 29, the number of media reports on the interim performance of the "three barrels of oil" reached more than 1,800. Since Sinopec only 48 hours have passed since the release of its performance, it is expected that the later data will still increase slightly. Xinhua News Agency , CCTV Finance Channel, China Securities Journal, Securities Times , Economic Reference News , CCD Daily, 21st Century Business Herald , First Financial Daily and other mainstream media have spent a lot of time to publish related reports.
As large central enterprises, CNPC and Sinopec belong to the oil industry closely related to the lives of ordinary people. The public has always examined the two companies with high standards. When the performance of the two companies suffered a "Waterloo", they received a lot of negative comments, which caused damage to the corporate image. The sharp increase in performance in 2017 has boosted public confidence in the two companies to a certain extent and is conducive to enhancing the reputation of the companies.
NDRC promotes regional power grid transmission price reform. Industry experts have different opinions
At the end of July 2017, the NDRC announced that the pilot reform of the provincial power grid's transmission and distribution price reform has been fully completed, and the reviewed transmission and distribution prices have been announced to the public one after another.Less than a month later, there has been new progress in the reform: On August 22, the National Development and Reform Commission issued the "Notice on Comprehensively Promoting the Reform of Cross-Provincial Cross-Regional and Regional Power Grid Transmission Prices" (hereinafter referred to as the "Notice"), deciding to carry out cross-provincial cross-regional transmission price verification work on the basis of achieving full coverage of provincial power grid transmission and distribution price reforms to promote cross-provincial cross-regional power market transactions.
The "Notice" points out that it is necessary to speed up the approval of the transmission price of the power grid in the North China region, and on the basis of completing the supervision and audit of the transmission and distribution cost of the power grid in the North China region, the approval of the transmission price of the power grid in the North China region is completed by the end of October 2017. In addition, comprehensively promote the reform of regional power grid transmission price. Based on the pilot reform of power grid transmission price in North China regional power grid, the approval of power grid transmission price in East China, Central China, Northeast China and Northwest regions will be organized, and the approval of power grid transmission price in regional power grid will be completed by the end of December 2017.
Figure: Major events in the reform of power transmission and distribution prices in recent years
[Public opinion]
Since the issuance of the "Several Opinions of the Central Committee of the Communist Party of China and the State Council on Further Deepening the Reform of the Power System" in mid-2015, the term "speed-up" has often appeared in newspapers at the same time as electricity reform, which shows the pursuit of "effectiveness" and "timeliness" in the new round of power system reform. In the subsequent cross-provincial and cross-regional and regional power grid transmission price reform, the policy continued this style and proposed a clear "timetable" for the progress of the reform.
Most industry experts have expressed their opinions on the timetable "difficulty in completing".
Dean of the China Energy Policy Research Institute of Xiamen University Lin Boqiang said that there will be no problems in the overall reform of cross-provincial and cross-regional and regional power grid transmission price, because the previous reform of provincial power grid transmission and distribution price has laid a good foundation. Zeng Ming , director of the Energy Internet Research Center of North China Electric Power University, also said that since construction assets are clear, engineering investment and cost are relatively clear, effective assets are easy to define, and the review of transmission and distribution prices of regional power grids and cross-provincial and cross-regional power transmission projects is not difficult.
But , the research of Zheng Houqing, deputy chief engineer and director of the Energy Decision Support Technology R&D Center of State Grid Energy Research Institute, proposed that there are many problems with cross-provincial and cross-regional electricity prices, such as: layered and segmented accumulation method. For transactions through multiple network companies, the accumulated transmission price and the landing price of the affected end are often higher, which affects the implementation of the transaction. At the same time, bilaterally negotiated transactions have a lack of an environment to form market prices and a lack of effective price negotiation methods, and there are major differences in prices in the transmission, transmission and power reception links, which affects the determination of transaction prices and the conclusion of transactions. In addition, the high cost of a single power transmission is not conducive to expanding power transactions; the price mechanism and system are not perfect and inconsistent, which is not conducive to the optimal allocation of resources.
Regarding the analysis of netizens' sentiment, more than 90% of netizens have a positive or objective attitude, expressing their likes, support, optimistic or waiting and see; another 10% of netizens have raised questions about electricity prices, such as: Sina Weibo netizen "@Lobster Sandwich" said: Please look at the coal price, and reform the electricity bill. The more you change, the more expensive it will be, and the burden on people's livelihood will be heavier; "@Super Invincible Little Fatty" said: The result of the reform will not be a price increase again, right?
[Analysis and judgment]
During the monitoring period, the National Development and Reform Commission promoted the reform of regional power grid transmission price by 1,045 media reports (including forwarding), 104 forum blogs, 593 Weibo posts, and 366 WeChat posts. Media reports are mainly concentrated on industry websites (accounting for 42%) and national key portal websites (accounting for 22%). Among self-media, the peak of Weibo's voice appeared on the 25th, with a total of 402 related Weibo posts that day.
From the perspective of public opinion feedback, regional power grid transmission price reform has received a lot of attention, and industry media are generally optimistic about the implementation of this reform; most netizens expressed support for this. Promoting the reform of regional power grid transmission prices still faces multiple resistances, but this reform conforms to the needs of the development of the power market and is conducive to the formation of a unified power market, which is the general trend.
(Editors: Wang Kun, Zhu Minggang)
CNN said that the project of Hinkley Cape C nuclear power project in the UK is progressing smoothly
CNNN Group UK general manager Zheng Dongshan said in an interview with China News Service reporter on the 25th that the project has been progressing smoothly since the project of Hinkley Cape C in the UK is officially started.At present, the nuclear island corridor project has taken shape, and the construction of the main nuclear island project is expected to begin in mid-2019. The entire construction progress is within the planning expectations.
Zheng Dongshan introduced that the Hinkley Point C project plans to build two nuclear power units, and the Chinese consortium led by China General Nuclear Corporation and French Power Group are jointly invested and built, with a shareholding ratio of 33.5%. After the project is completed, it will meet 7% of the UK's electricity demand. Within a 60-year operating life, it will reduce emissions by 9 million tons of carbon dioxide every year and employ about 900 employees.
In response to the public opinion in the UK that promotes the "China's investment threat theory", emphasizing issues such as "China buys out the UK" and "taking trade and investment protection measures to restrict Chinese investment", Chinese Ambassador to the UK Liu Xiaoming published a signed article in mainstream British media, saying that China's investment in the UK is mutually beneficial and win-win and will not threaten the national security of the UK. The UK's commitment to openness is crucial to strengthening confidence in foreign investment.
The progress of the Hinkley Point nuclear power project in the UK invested and constructed by China General Nuclear Corporation has attracted the attention of many media and industry insiders. Previously, regarding negative comments about China's investment in the UK's nuclear power project, Chinese Ambassador to the UK Liu Xiaoming said that Chinese investment will not threaten the national security of the UK, and Sino-UK cooperation is mutually beneficial and win-win, which has a significant driving effect on the UK's nuclear power industry chain, employment and talent training. At the same time, he emphasized that Chinese companies investing in the UK is open and transparent, strictly follow the British laws and regulations on environmental protection, hygiene, safety, etc., and actively fulfill corporate social responsibilities. The main project of the Chinese company's Hinkley Point nuclear power project in the UK is progressing smoothly, achieving another major breakthrough in the "going out" of China's nuclear power technology in the market of developed countries. Lin Boqiang, a member of the National Energy Expert Advisory Committee, pointed out that the construction of nuclear power plants has high safety requirements and high trust requirements for enterprises. If a project is done in the UK, orders in other regions will be easier to break through and will rush forward.
Deputy General Manager of , China General Nuclear Corporation Limited, said that our most important demand is not to invest in Hinkley Corner C, but to bring Hualong One technology to the UK through the holding Bradville B project.
Outside public opinion generally believes that since the referendum on departure in June last year, the first thing the UK needs is foreign investment, which is an excellent opportunity for China. Previously, the British Labor Party questioned that the Chinese-British nuclear power project threatened national security, and the nuclear power plant construction project invested by Chinese companies in the UK has been criticized by many local criticisms. Local public opinion believes that Chinese state-owned enterprises may have control over nuclear power plant technology and can close nuclear power plants once diplomatic disputes occur between China and the UK.
During this process, Chinese nuclear power companies actively promoted their participation in the UK nuclear power project, emphasizing that the construction is to seek cooperation and win-win results, which brings development opportunities rather than threats.
Nuclear power is one of the "national business cards" that my country is as famous as high-speed rail, and is a "national weapon" representing the country's core competitiveness. As China's first breakthrough in nuclear power industry in developed countries, the Bradville B project will adopt the world's mainstream third-generation nuclear power technology independently developed by China for the first time. In this regard, industry analysts believe that the UK's nuclear power project will bring out China's capital, Chinese technology, Chinese equipment, Chinese experience and Chinese services, and promote "Made in China" to "Creation in China".
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