China Electricity Council then expects power sector's coal consumption to rise from 2.3 bln tonnes in 2020, to 2.52 bln in 2025, and between 2.45-2.53 bln in 2030.
This implies the pathway for coal plants' emissions then.
🇨🇳 Gas power outlook:
China Electricity Council expects Gas-fired capacity to rise from 98GW in 2020, to 150 GW in 2025 and 235 GW in 2030.
Gas-fired generation expected to increase from 248.5 TWh in 2020 to 670 TWh in 2030
Another report by the same department of CEC and published on the same day (27 Dec.) expect China power sector emissions to peak in 2028 at 4.7 Gt (scenario 2, RE+nuclear)
🇨🇳NDRC just released Guidance on Speeding up establishing National Uniform Power Market
This is HUGE news 🎉
2025: preliminary completion 2030: finalizing national power market
Set up national Power Exchange
This new milestone document set out key components of China power market following the Document No.9 in 2015 kicking off the second round of power sector reform
⚠️First year of operation will not be smooth, but China's new national Carbon market is facing many more obstacles in run-up to looming compliance deadline.
'Free borrowing' practice and 'Unclear tax rules' could hamper the market #OCTT
Thread 🧵
What is Free Borrowing?
Ahead of looming Compliance deadline on 31 Dec, provincial Ecology and Environment authority is under pressure to ensure enterprises to surrender enough allowances in time.
However, allocation for 2019-2020 has not finalized
In addition, only some of the covered 2162 enterprises have got their trading accounts (or some do not want to trade either)
Shandong province reportedly issued notice to allow 'ETS entities borrowing allowances from each other, and pay back in 2022'
An in-depth analysis by Caijing (financial news) with exclusive interviews of coal miners/traders/power plants in the journalists' month-long field visits to Shanxi and Inner Mongolia.
These firsthand interviews of stakeholders provide new insights into China's energy crunch.
Some mentioned the 'cutting coal mines' capacity since 2016' as a major reason causing coal shortage.
Caijing journalist found out this is not the case.
Caijing interviewed a Shanxi coal producer:
'Cutting capacity has led to closure of aging and inefficient coal mines, effective coal production capacity has increased, such as closing down 1Mt/yr small ones, build 5 Mt/yr new ones, improving resource supply'