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11 Jan 2023 09:15
SDIC Power Holdings Co., Ltd.
(GDR under the symbol: "SDIC")
Fourth Quarter 2022 Operating Results
This announcement contains the English translation of the Chinese version of "SDIC Power Holdings Co., Ltd. Fourth Quarter 2022 Operating Results" as published on the website of the Shanghai Stock Exchange, and is provided for your reference only. In case of discrepancy between the Chinese version and the English version, the Chinese version shall prevail.
According to the preliminary statistics of SDIC Power Holdings Co., Ltd. ("the company"), the company's domestic holding enterprises have completed a total of 38.135 TWh of gross electricity generated and 37.144 TWh of net electricity generated in Q4 2022, representing a decrease of 1.82% and 1.75% respectively compared with the same period last year. From January to December 2022, the company's domestic holding enterprises have completed a total of 156.5 TWh of gross electricity generated and 152.518 TWh of net electricity generated, representing an increase of 1.84% and 2.05% respectively compared with the same period last year.
In Q4 2022, the average on-grid tariff of the company's domestic holding enterprises is 0.356 RMB / kWh, representing an increase of 10.99% compared with the same period last year. From January to December 2022, the average on-grid tariff of the company's domestic holding enterprises is 0.351 RMB/kWh, representing an increase of 10.13% compared with the same period last year.
The operating results of the company's domestic holding enterprises in 2022 Q4 are as follows:
Items | Gross Electricity Generated (TWh)
| Net Electricity Generated (TWh)
| Average On-grid Tariff (RMB / kWh)
| ||||||
Current period | Same period last year | Change (YOY%) | Current period | Same period last year | Change (YOY%) | Current period | Same period last year | Change (YOY%) | |
Hydropower | 23.654 | 23.635 | 0.08% | 23.515 | 23.501 | 0.06% | 0.280 | 0.241 | 16.24% |
Thermal Power | 12.905 | 13.762 | -6.23% | 12.089 | 12.892 | -6.22% | 0.478 | 0.437 | 9.35% |
Wind Power | 1.170 | 1.062 | 10.16% | 1.141 | 1.038 | 9.94% | 0.489 | 0.493 | -0.94% |
Solar Power | 0.405 | 0.380 | 6.63% | 0.399 | 0.375 | 6.32% | 0.760 | 0.911 | -16.54% |
Total | 38.135 | 38.840 | -1.82% | 37.144 | 37.806 | -1.75% | 0.356 | 0.321 | 10.99% |
The operating results of the company's domestic holding enterprises from January to December 2022 are as follows :
Items | Gross Electricity Generated (TWh)
| Net Electricity Generated (TWh)
| Average On-grid Tariff (RMB / kWh)
| ||||||
Current period | Same period last year | Change (YOY%) | Current period | Same period last year | Change (YOY%) | Current period | Same period last year | Change (YOY%) | |
Hydropower | 99.193 | 88.257 | 12.39% | 98.621 | 87.763 | 12.37% | 0.272 | 0.255 | 6.75% |
Thermal Power | 50.591 | 59.011 | -14.27% | 47.323 | 55.42 | -14.61% | 0.481 | 0.389 | 23.75% |
Wind Power | 4.874 | 4.786 | 1.85% | 4.757 | 4.671 | 1.85% | 0.508 | 0.484 | 5.02% |
Solar Power | 1.841 | 1.615 | 14.00% | 1.818 | 1.597 | 13.80% | 0.845 | 0.918 | -7.92% |
Total | 156.5 | 153.669 | 1.84% | 152.518 | 149.451 | 2.05% | 0.351 | 0.319 | 10.13% |
Explanation of year-on-year changes in gross electricity generated of domestic power plants in 2022 Q4:
1.The main reasons for the overall year-on-year increase of hydropower generation are as follows:
Firstly, although the inflow from the Yalong River basin is significantly shrinking, the hydropower generation of the Yalong River has increased year-on-year due to the need of supply protection and the optimization of cascade power stations in the basin. Secondly, the hydropower generation increased due to the operation of Yangfanggou Hydropower Station and Lianghekou Hydropower Station. Thirdly, Dachaoshan Hydropower Station is affected by the storage capacity decline of upstream reservoir, and thus the power generation has increased.
2.The main reasons for the overall year-on-year decrease of thermal power generation are firstly due to the abundant rainfall in partial areas which causes the significant increase of hydropower generation, and secondly due to the reduction of social electricity consumption in some of the thermal power areas.
3. The main reason for the overall year-on-year growth of wind power generation is the successive commencing commercial operation of wind power stations.
4. The main reasons for the overall year-on-year growth of solar power generation include the successive merger and acquisition as well as the commencement of operation of various projects.
Explanation of year-on-year changes in average on-grid tariff of domestic power plants in 2022 Q4:
The cost of thermal price has risen being affected by the high coal price. According to relevant national policies, the price of thermal power is all formed by market, and thus the price has increased due to the continuous tension between supply and demand. Meanwhile, the on-grid tariff of power plants fluctuates with the affection of the settlement price and settlement cycle
Among them, Yangfanggou has not yet defined the electricity price mechanism, and Lianghekou is temporarily settled according to the transition period electricity price.
Operating results of overseas power plants in Q4 2022:
The 50,000 kW onshore wind power project Afton Wind Farm Limited has completed a total power generation of 144 million kWh from January to December in 2022; The 9,800 kW waste-to-energy power project in Bangkok has completed a total power generation of 75 million kWh from January to December in 2022.
The Board of Directors of SDIC Power Holdings Co., Ltd.
January 11, 2023
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