Ensuring the safe and stable supply of energy and electricity -- the state has made great efforts to curb the irrational rise of coal prices

2021-10-22

Coal is not only related to industrial production, but also related to people's heating. For a period of time, coal prices have risen rapidly, reaching record highs. The national development and Reform Commission called it "completely divorced from the fundamentals of supply and demand" and "still showing a trend of further irrational rise". In this context, relevant parties take intervention measures according to law to promote the return of coal prices to a reasonable range. An important topic of the executive meeting of the State Council held on the 20th was to listen to the report on people's livelihood energy consumption and supply. Focusing on ensuring the safety and warmth of the people through the winter, the meeting made a series of arrangements, including "cracking down on speculation in the coal market according to law". The previous day, the national development and Reform Commission held three symposiums inside and outside Beijing with the theme of "coal". The first was to organize key coal enterprises, China Coal Industry Association and China Electric Power Enterprise Federation to study the implementation of intervention measures on coal prices according to law. In the second field, we organized key enterprises of coal, electricity, oil and gas transportation to study and arrange the key work of the people to warm the winter. In the third scene, the Finance Department of the national development and Reform Commission went to Zhengzhou Commodity Exchange to investigate and hold a symposium, and put forward measures such as "strengthening the penetrating supervision of the futures market" and "strictly investigating and punishing the malicious speculation of capital according to law and making it public". Not only the national development and Reform Commission, the reporter learned that the state owned assets supervision and Administration Commission of the State Council has also issued the reward and punishment measures for the assessment of energy supply guarantee this winter and next spring, taking the guarantee and supply as the main index for the assessment of enterprises this year, and implementing the "one vote veto". The impact of intensive actions on the futures market is immediate. On the evening of the 19th, the main contract of thermal coal futures firmly "locked" the limit in a short time. The main contracts of coking coal and coke are also basically near the limit. The person in charge of a large power enterprise in Shanxi told Xinhua that for the current soaring and high fever market coal prices, the implementation of intervention measures on coal prices according to law is a timely "antipyretic medicine". The reporter learned that according to the deployment of the CPC Central Committee and the State Council, all relevant parties have vigorously and orderly promoted the implementation of energy supply and price stability, and phased results have been achieved. For example, since the end of September, a number of production coal mines have been approved. On October 18, the daily output of coal has exceeded 11.6 million tons, a new high this year. On the basis of the signed annual medium and long-term contracts, power generation and heating enterprises and coal enterprises have signed another 150 million tons of medium and long-term contracts. The coal source of the medium and long-term contract coal gap in some provinces has been identified and the signing is being stepped up. Sun Qingguo, director of the Safety Foundation Department of the State Administration of mine safety, said at the regular policy briefing of the State Council on the 13th that 976 coal mines have been audited. Based on the principles of special handling in special periods, appropriate liberalization and strict adherence to the bottom line, safety conditions have been audited one by one. Among them, 153 coal mines meet the safety and supply conditions, and the production capacity is increased by about 220 million tons / year. It is expected to increase the coal output by 55 million tons in the fourth quarter, with an average daily increase of 600000 tons. Deepen reform to solve deep-seated problems. China is further deepening the market-oriented reform of on grid electricity price for coal-fired power generation. Recently, the transaction price of new markets in Guangdong, Jiangsu, Shandong, Hubei and Shanxi has risen by nearly 20% according to the price policy. Chen Zheng, director of the energy strategy and Policy Research Institute of China Southern Power Grid, believes that a series of measures recently launched by the state are not only the "timely rain" to dredge the contradiction between coal and electricity prices and alleviate the current tense situation of power supply, but also the key to liberalize market access, enlarge the price floating space, further play an effective market role and promote the power market-oriented reform to a new stage "Booster". For further ensuring supply and price stability, the national development and Reform Commission proposed eight measures at the meeting held on the 19th, such as further releasing coal production capacity, steadily increasing coal production, further implementing the full coverage of medium and long-term coal contracts for power generation and heating enterprises, and promoting the full generation of coal-fired power units. Can people's livelihood electricity and gas be effectively guaranteed? Zhao Chenxin, Secretary General of the national development and Reform Commission, previously said that residential electricity consumption accounts for about 15% of all electricity consumption, and the proportion of people's livelihood gas consumption accounts for less than 50% of all gas consumption. There is no problem with the full guarantee of people's livelihood power and gas consumption. "The power supply for residents, agriculture and public welfare undertakings is still guaranteed by power grid enterprises, or the current price level remains unchanged," said Wan Jinsong, director of the price department of the national development and Reform Commission. The national development and Reform Commission clearly pointed out that efforts should be made to investigate abnormal transactions and malicious speculation. All key coal ports should take the initiative to provide illegal clues such as malicious hoarding and bid up prices to the regulatory authorities, restrict their transportation, loading and unloading for transactions that obviously exceed a reasonable level, and spare no effort to maintain the order of the coal market. Relevant regions are speeding up the implementation. Taking Yulin, one of the main coal producing areas in China, as an example, the reporter learned that Yulin held a special meeting on coal supply guarantee in the fourth quarter on the 19th, requiring relevant enterprises to sign a letter of commitment to ensure supply and stable price, and the price of the signed long-term agreement shall not be changed. At the same time, it requires the development and reform, ecological environment, market supervision, taxation and other departments to make full use of the price method Relevant laws and regulations shall jointly punish coal enterprises that violate the provisions and promote the return of coal prices to a reasonable range. Zhang Yansheng, chief researcher of China International Economic Exchange Center, believes that the continuous rise of coal prices is the result of the interweaving and superposition of multiple international and domestic factors. "In the short term, strong regulation is necessary. From the long-term perspective of high-quality development, we must further deepen the reform, especially the market-oriented reform in the field of coal and electricity, and make greater efforts in overall coordination." (outlook new era)

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