China's power equipment utilization declines 6%

China Power Sector Jan-Oct shows electricity consumption rising 2.79% YoY, power generation utilization hours falling 6%, robust investment, new capacity additions across hydropower, thermal, wind, nuclear, and expanded grid infrastructure upgrades nationwide.

In October, China's overall domestic power consumption reached 313.42 billion kilowatt-hours (kWh), an increase of 5.87% year over year.

From January to October, the nation's accumulative domestic power consumption reached 2.98 trillion kWh, an increase of 2.79% year over year. However, the average use of power generation equipment reached 3,735 hours, a drop of 240 hours, or 6% year over year, according to the monthly report published by China Electricity Council on November 12.

The average use of hydropower equipment reached 2,961 hours, even as generation output increased earlier in the year; and the average use of thermal power equipment reached 3,923 hours, a drop of 245 hours year over year. In total, there were 15 provinces and regions with utilization levels above the national average of 3,735 hours: Guizhou, Jiangsu, Xinjiang, Liaoning, Hebei, Ningxia, Yunnan, Tianjin, Shandong, Qinghai, Jilin, Shanxi, Anhui, Fujian and Zhejiang.

China's power investment remained high, with several units commissioned in the period. From January to October, the national investment in power source projects reached $33.96 billion, including $7.38 billion for hydropower, $14.74 billion for thermal power, $6.17 billion for nuclear power and $5.57 billion for wind power. From January to October, the newly added production capacity of power sources reached 58,570 megawatts (MW), including 12,750 MW for hydropower, 41,290 MW for thermal power, and 4,560 MW for wind power. The national investment in power grid projects reached $36.37 billion in the same period.

At of the end of October, the total installed capacity of power plants of 6 MW or above in China reached 805,820 MW, and thus surpassed 800 GW nationwide, an increase of 9.4% year over year. Of this, installed capacity of hydropower reached 157,020 MW, an increase of 13.8%; thermal power reached 625,440 MW, an increase of 7.6%; wind power reached 13,970 MW, an increase of 83.6%; and nuclear power reached 9,080 MW.

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