Huaneng Power International announced its power generation in 2014. As of December 31, 2014, the company's total power generation of its power plants within China on consolidated basis amounted to 294.388 billion kWh, representing a decrease of 7.27% over the same period last year.
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Total electricity sold by the company's power plants within China amounted to 277.538 billion kWh, representing a decrease of 7.49% over the same period last year.
Firstly, China's economic growth slowed in 2014 and power consumption growth of the whole society declined continuously.
Secondly, a number of ultra-high voltage west-to-east power transmission lines in China have commenced operation and occupied the power generation space of the thermal power generating units in the southeast coastal regions. The company has been affected to a greater extent as thermal power generating units of the company has a higher proportion in the southeast region.
Thirdly, during the peak summer period, the temperature of most of the country has fallen to a greater extent as compared with the same period of last year and rainfall has increased substantially as compared with the same period of last year, thus resulting in low electricity demand. The above, coupled with a high base of the previous year, has resulted in a significant decline in power output as compared with the same period of last year.
Fourthly, a large number of hydropower generating units in the southwest region have commenced production. The abundant inflow of water and extensive development of hydropower occupied the thermal power generation space of Yunnan province and also power was transmitted to the load centres in Shanghai, Zhejiang, Jiangsu and Guangdong.
In addition, large nuclear power generating units have commenced operation successively in Liaoning and Fujian and it has an impact on the power output of the thermal power generating units in the above areas.
The accumulated power generation of Tuas Power Limited in Singapore, which is wholly owned by the company, accounted for a market share of 21.8% in Singapore, representing an increase of 1.2 percentage points compared to the same period last year. ■