State Grid denies the rumor of splitting. Experts say that large monopolies are better than small monopolies.
experts say that the core of power reform should be "system reform"
in addition to accelerating the pace of "going out" in recent years and continuously "eating" the power assets of European countries, State Grid has never been widely concerned by the market as it is now
in response to the rumor that "national power was split into five companies", on March 22, three affected companies in the A-share market, Pinggao electric, Guodian Nari and XJ electric, announced that, "It was learned from the controlling shareholders that as of the date of publication of the announcement, Guodian Corporation had not received any formal notice or information about the spin off of Guodian Corporation. At the time of making the assumptions and estimates, the relevant state departments had not consulted Guodian Corporation on the spin off of Guodian Corporation, nor had they issued any formal documents or notices about the spin off of Guodian Corporation."
the three companies emphasized that "up to now, the production and operation activities of the company are normal." It is understood that the ultimate controller of PingGao Electric is Guodian, the actual controller of Guodian Nari is Guodian Electric Power Research Institute, and XJ Electric is China Electric Power Research Institute
"this shows the market's expectation for China's power reform, but on the contrary, is it useful for electricity and a team of highly skilled and enterprising excellent employees to simply split up national electricity?" Lin Boqiang, director of the China energy economy research center of Xiamen University, told the international finance news, "now, the most critical thing is to clarify the thinking and direction of the next step of power market reform, especially in the context of the incorporation of the Electricity Regulatory Commission, which promotes power reform, into the National Energy Administration."
deny the rumors of splitting
Jia Fuqing, director of the system reform office of the State Power Corporation, said in an interview with Xinhua news agency, "we learned from the structural reform department of the national development and Reform Commission that there was no reform content of splitting the state power in the solicitation of opinions of the State Council on deepening the economic system reform in 2013."
state power came into being with the requirement of "plant separation" in the "power system reform plan" (commonly known in the industry as "No. 5 document"), and its predecessor included the former "state power company" of national power and all power plants. At present, its business area covers 26 provinces, autonomous regions and municipalities directly under the central government, covering 88% of the land area
with the implementation of a new round of major ministry reform, the functions of the Electricity Regulatory Commission and the national energy administration are integrated to form a new national energy administration, and the voice of power system reform is heard again. This time, the target was targeted by the media
on March 18, Caixin reported that a new round of institutional reform of State Grid is being promoted, "the preliminary design is to split the State Grid into five companies. The proposed split plan is to divide the State Grid into five independent regional companies by region, and with the addition of southern power, six regional power companies will appear in China". Caixin said that the reform is expected to start after the national two sessions
but the news was quickly denied by the official. On March 20, jiafuqing, director of the system reform office of the State Power Corporation, said in an interview with Xinhua news agency, "we learned from the structural reform department of the national development and Reform Commission that the State Council did not split the reform content of the state power in the solicitation of opinions on deepening the economic system reform in 2013."
Wang Jingjun, director of the State Electricity Department, also told the media that the State Electricity Bureau had five branches, "the content of the report is not new, but a new packaging of past rumors". International finance news had previously contacted experts and learned that as early as 10 years ago, there was a proposal to further split up national household appliances and fully compete in the electricity market
splitting electricity is not realistic
"electricity has the attribute of natural monopoly, and we should pay attention to economies of scale. On this basis, let's see whether it is better to split or unify electricity." Zeng Ming, a professor at North China Electric Power University, said, "otherwise, the big monopoly will become a small monopoly, which will bring problems such as low efficiency and environmental pollution."
for the spin off rumors, some commentators said that the current power system is a "centralized intersection of multiple contradictions", including large-scale and inefficient, monopolistic and excessive, so this material can also be used as a convenient electronic emission source to control resources, lack of power market hoes, manufacturing, transmission and distribution, price distortion of power supply under the integration of electricity price, etc. For this reason, at the national level, the "source" of promoting the next step of power system reform naturally starts from the state power, which has monopoly resources
during the national two sessions this year, shaobingren, the former vice chairman of the State Electricity Regulatory Commission, believed that compared with the state electricity, the reform mode of southern power was relatively successful. Therefore, we can learn from experience, "further divide national household appliances into several regional electricity that compete equally with each other"
"although the goal of intending to compete is good, it is not realistic to split up national power." Lin Boqiang told this newspaper, "On the one hand, the goal of China's power system reform is not clear. There was' Document No. 5 'before, but now the Electricity Regulatory Commission is gone. It is unpredictable whether Document No. 5 can play a role in the power reform; on the other hand, the reform is bound to touch the interests. As for state power, who will bear the cost of the spin off, or after the spin off, whether state power and the spin off enterprises can enjoy the benefits of the reform together, there are also many uncertainties Qualitative. "
"electricity has the attribute of natural monopoly, and we should focus on economies of scale. On this basis, let's see whether electricity is split or unified." Zeng Ming, a professor at North China Electric Power University, said, "otherwise, the big monopoly will become a small monopoly, which will bring problems such as low efficiency and environmental pollution."
"from the perspective of listed companies, once split, how to clarify the equity relationship of listed companies related to Guodian and how to break the potential interest relationship are not things that can be solved in the short term." "Therefore, there is no possibility to quickly spin off national household appliances," a brokerage strategy analyst told the international finance news
Xing Zhigang, an analyst at Guojin securities, believes that the national power reform will involve many stakeholders and have a far-reaching impact. Therefore, this is not only a single enterprise problem, but also a system problem. But on the other hand, Xing Zhigang said that we should also see the firm determination of the current government to promote system reform. "In the context of the just concluded two sessions of the National People's Congress, the rumor of splitting can't be groundless. At the same time, from the series of wind power and photovoltaic distributed generation policies issued at the end of last year, the intention of the national level to restrict the centralization and monopoly of national power is very obvious"
determine the next step of power reform
it is said that in the previous reform, the China Electricity Regulatory Commission basically realized the separation of government and enterprises, factories and main and auxiliary enterprises, but because it touched on the interests of power, the "separation of transmission and distribution" has not yet been gnawed. Xing Zhigang believes that the core of power reform is "system reform"
Lin Boqiang believes that whether it is finally split or officially recognized, it shows that the industry is concerned about the further reform of China's power system. "Compared with the separation of national household appliances, the core reform is precisely the electricity price. When the 'market electricity' can be implemented, it can show that China's electricity reform has made another leap." Lin Boqiang said, "at present, because the electricity price is too sensitive and affects the whole body, it is simply unrealistic to fully liberalize the electricity price."
"therefore, the most practical reform goal is to determine the next step of power reform, such as establishing effective reform institutions and systems, rather than blindly guessing." Lin Boqiang believes
Ping An Securities released a report that "separation of transmission and distribution" is the focus of power reform. It is said that in the previous reform, the China Electricity Regulatory Commission basically realized the separation of government and enterprises, factories and main and auxiliary enterprises, but the "separation of transmission and distribution" has not yet been gnawed due to the interests of electricity. Xing Zhigang believes that the core of power reform is "system reform"
in this regard, Li Xiaolin, a member of the National Committee of the Chinese people's Political Consultative Conference, suggested during the two sessions of the National People's Congress this year that we should summarize the reform experience, timely issue the "12th Five Year Plan" for power reform, and grasp the three principles of "electricity is a commodity", "reform should benefit people's livelihood" and "building a safe, stable, economic and clean modern power industry system"
Li Xiaolin suggested that we should strengthen the leadership and overall coordination of power reform, effectively condense the reform momentum, "power system reform is a systematic and comprehensive work, which requires the cooperation of multiple departments. The successful experience of power reform in various countries around the world shows that the strong and continuous promotion of the central government is the most important factor for the success of the reform"