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17 Oct 2022 10:49
SDIC Power Holdings Co., Ltd.
(GDR under the symbol: "SDIC")
Third Quarter 2022 Operating Results
This announcement contains the English translation of the Chinese version of "SDIC Power Holdings Co., Ltd. Third 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 50.199 TWh of gross electricity generated and 48.967 TWh of net electricity generated in Q3 2022, representing an increase of 2.18% and 2.22% respectively compared with the same period last year. From January to September 2022, the company's domestic holding enterprises have completed a total of 118.365 TWh of gross electricity generated and 115.374 TWh of net electricity generated, representing an increase of 3.08% and 3.34% respectively compared with the same period last year.
In Q3 2022, the average on-grid tariff of the company's domestic holding enterprises is 0.337 RMB / kWh, representing an increase of 12.76% compared with the same period last year. From January to September 2022, the average on-grid tariff of the company's domestic holding enterprises is 0.350 RMB/kWh, representing an increase of 10.10% compared with the same period last year.
The operating results of the company's domestic holding enterprises in 2022 Q3 is as followed:
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 | 32.601 | 30.419 | 7.17% | 32.423 | 30.263 | 7.14% | 0.249 | 0.243 | 2.46% |
Thermal Power | 15.885 | 17.186 | -7.57% | 14.867 | 16.150 | -7.94% | 0.501 | 0.378 | 32.42% |
Wind Power | 1.217 | 1.081 | 12.52% | 1.188 | 1.053 | 12.84% | 0.486 | 0.457 | 6.52% |
Solar Power | 0.496 | 0.444 | 11.67% | 0.490 | 0.439 | 11.50% | 0.848 | 0.885 | -4.16% |
Total | 50.199 | 49.130 | 2.18% | 48.967 | 47.904 | 2.22% | 0.337 | 0.299 | 12.76% |
The operating results of the company's domestic holding enterprises from January to September 2022 is as followed:
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 | 75.539 | 64.621 | 16.89% | 75.106 | 64.262 | 16.87% | 0.270 | 0.260 | 3.51% |
Thermal Power | 37.686 | 45.249 | -16.71% | 35.234 | 42.529 | -17.15% | 0.484 | 0.374 | 29.28% |
Wind Power | 3.704 | 3.723 | -0.53% | 3.616 | 3.633 | -0.47% | 0.515 | 0.488 | 5.51% |
Solar Power | 1.437 | 1.236 | 16.27% | 1.419 | 1.222 | 16.10% | 0.869 | 0.920 | -5.49% |
Total | 118.365 | 114.829 | 3.08% | 115.374 | 111.645 | 3.34% | 0.350 | 0.318 | 10.10% |
Explanation of year-on-year changes in gross electricity generated of domestic power plants in 2022 Q3:
1.The main reasons for the overall year-on-year increase of hydropower generation are as follows:
the year-on-year power generation of Yalong River increased firstly due to the optimal operation of cascade hydropower stations in river basin, and secondly due to the operation of Yangfanggou Hydropower Station and Lianghekou Hydropower Station, and thirdly due to the rapid storage capacity decline of Ertan Reservoir
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 reasons for the overall year-on-year decrease of wind power generation are firstly due to partial regional wind farms being affected by wind resources, and secondly due to the limitation of local consumption and export channels of some regional wind farms, causing the abandoned wind power increased on year-on-year basis.
4. The main reasons for the overall year-on-year growth of solar power generation include the successive merger and acquisition of solar power projects 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 Q3:
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 Q3 2022:
The 50,000 kW onshore wind power project Afton Wind Farm Limited is in good operation condition, with a total power generation of 101 million kWh completed from January to September in 2022; The 9,800 kW waste-to-energy power project in Bangkok is in good operation condition, with a total power generation of 53 million kWh completed from January to September in 2022.
The Board of Directors of SDIC Power Holdings Co., Ltd.
October 17, 2022
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