Crack the "coal power top cow" coal price mechanism and implement heavy reform
2022-02-28
The reporter of economic information daily learned on February 24 that the national development and Reform Commission recently issued the notice on further improving the coal market price formation mechanism (hereinafter referred to as the notice), which defines the reasonable range of coal price and links it with the coal-fired power generation price mechanism, making it clear that the coal and electricity prices can be effectively transmitted within the reasonable range, If the price exceeds the reasonable range, it will be regulated and regulated in time. "Stabilizing expectations", "stabilizing supply" and "stabilizing the economy" - the introduction of this heavy reform policy has released a clear signal to the industry and market that the state will further strengthen the regulation and supervision of coal market prices, which is conducive to guiding the upstream and downstream to form stable market expectations as soon as possible, curbing capital speculation and speculation, and preventing the "ups and downs" of coal prices. At the same time, coal prices, on grid electricity prices and user electricity prices have realized the "three price linkage" through market-oriented methods, and solved the problem of "coal power topping the bull", so as to better ensure the safe and stable supply of energy and maintain the stable operation of the economy. It is predicted that the coal price will fall reasonably at the current level for some time to come. "The reasonable range of coal price is not the government's pricing. In essence, it is an expected management means and the goal of coal price regulation. Generally speaking, it is' playing a clear card and drawing a boundary '." Wan Jinsong, director of the price department of the national development and Reform Commission, said at a press conference on the 24th that improving the coal market price formation mechanism this time is to clarify the reasonable price range, strengthen the range regulation, guide the coal price to operate in a reasonable range, and realize a better combination of an effective market and a promising government on the basis of insisting that the coal price is formed by the market. It is reported that in the 1990s, coal prices were gradually liberalized and formed by the market. Wan Jinsong said that affected by various factors, the market mechanism of coal is not perfect, coupled with speculation, which is fueled by market failure in part of the time, leading to ups and downs in coal prices. Coal is an important product related to the national economy and the people's livelihood. For some time to come, China's energy consumption still needs to establish the basic national conditions of coal. "In the context of the current complex international energy supply and demand situation, it is very important and necessary to further improve the coal market price formation mechanism." Wan Jinsong said. In his view, China's coal self-sufficiency rate exceeds 90%, its own resources can fully meet the demand, and the upstream and downstream relations are stable for a long time. It is fully qualified to clarify the reasonable range of prices, strengthen the regulation and control of ranges, and guide the operation of coal prices in a reasonable range. The Bohai Rim port represented by Qinhuangdao port is an important coal transfer and distribution center, and its price is the "wind vane" for the formation of coal market price. According to the notice, judging from the market operation for many years, the medium and long-term transaction price of underground coal (5500 kcal) in Qinhuangdao port is more reasonable at 570-770 yuan per ton (including tax) in the near future, and the upstream and downstream can achieve better coordinated development. Considering the reasonable circulation cost, production cost and other factors, the reasonable range of medium and long-term transaction price in the ore extraction link of key coal transfer out areas (Shanxi, Shaanxi and Inner Mongolia) is defined accordingly. The national development and Reform Commission has taken comprehensive measures with relevant parties to guide coal prices to operate within a reasonable range. Zhou peixue, deputy director of the price department of the national development and Reform Commission, explained that when the coal price reaches the upper limit of 770 yuan per ton, coal-fired power generation enterprises can ensure the normal operation of power generation after fully conducting the fuel cost and reasonably floating the on grid electricity price. When the coal price reaches the lower limit of 570 yuan per ton, coal enterprises can maintain stable production. At the same time, sufficient space is reserved to make the coal price fully reflect the changes of market supply and demand, which is conducive to give full play to the role of market regulation. It is revealed that the national development and Reform Commission will take into account the changes in coal production costs, the development of the energy industry and other factors, timely and fully listen to the opinions and suggestions of the industry and all sectors of society, and timely evaluate and improve the reasonable range of coal prices. Spot coal prices will also be regulated. Zhou peixue said that although there is no reasonable range for the spot price of coal at present, the spot price cannot deviate significantly from the reasonable range of medium and long-term transaction price. The national development and Reform Commission will closely monitor the change of coal spot price. If obvious deviation is found, it will take comprehensive measures in conjunction with relevant departments in time. Wan Jinsong said that improving the price formation mechanism of the coal market, proposing a reasonable range of coal prices and setting a "traffic light" for capital, which is conducive to stabilizing market expectations, reducing speculation space and effectively preventing malicious speculation of speculative capital. Next, the national development and Reform Commission will continue to work with relevant departments to pay close attention to the trend of speculative capital, strengthen the linkage supervision of the coal futures and spot market, fight against the emergence of malicious speculation of speculative capital, strive to standardize the order of the coal futures and spot market and promote the coordinated and healthy development of the futures and spot market. Peng shaozong, deputy director of the price department of the national development and Reform Commission and first-class inspector, said that at present, the coal production and market supply are generally stable, the daily output is stable at more than 12 million tons, the coal storage in the power plant is at an all-time high, and there is a solid foundation for the stability of coal prices. He believes that for some time to come, the coal price is expected to fall reasonably at the current level, which is conducive to further stabilizing the transaction price of coal-fired power generation market. According to the notice, when the medium and long-term transaction price of coal operates within a reasonable range, coal-fired power generation enterprises can fully transmit the change of fuel cost through market-oriented means under the current mechanism, and encourage the reasonable setting of terms linking the on grid price with the medium and long-term transaction price of coal in the medium and long-term transaction contract of electric power, so as to effectively realize the transmission of coal and electricity prices. "Coal and electricity top cattle" is a long-standing "old and difficult" problem. The main reason is that the price formation mechanism of coal and electricity is not perfect and it is difficult to connect effectively. In October last year, China fully liberalized the on grid electricity price of coal-fired power generation, and expanded the floating range of electricity price to no more than 20% up and down on the basis of the benchmark price, with no limit for high energy consuming enterprises. Peng shaozong pointed out that this time, we will improve the coal market price formation mechanism, further "trace the source", put forward a reasonable range of coal prices, realize the effective connection with the "benchmark price + fluctuation of no more than 20%" price range of coal-fired power generation, and the coal and electricity prices can be effectively transmitted within a reasonable range. In this way, coal price, on grid price and user price have realized the "three price linkage" through market-oriented way, fundamentally straightened out the price relationship between coal and electricity, and solved the problem of "coal and electricity topping the bull". "Except for high energy consuming enterprises, no matter how the coal price changes, the transaction price of coal-fired power generation market can not break the limit of floating up by 20%, and the price of residents and agriculture will not change compared with the current level." Peng shaozong said. (Xinhua News Agency)
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Economic Information Daily
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