Three major benefits of state-electric power release the integrated coal-electricity distribution in Inner Mongolia

Yesterday, the state electric power announcement company six session 16 times Board resolution, the three major proposals are worthy of investors ' attention: first, the 2010-2012 annual cash dividend of the national electricity and electricity power is not less than 50% of the distribution profit achieved in the year;　　Operating two coal and electricity integration projects; In addition, the State electric power initially formulated a "Twelve-Five planning", the company will use five years to complete the "transition" goal.　　Board resolution, the State electric Power also disclosed the company and the Inner Mongolia State Electric Energy Investment Co., Ltd. (hereinafter referred to as Mongolia) to carry out cooperation announcements, the two sides on the development of coal, railways, new energy, coal storage and transportation stations in Inner Mongolia reached a cooperative intention. News, State electric power shares immediately higher, the same day early trading high, the rise was once nearly 3%. Market analysts believe that the state-run electric power short-term EMA has shown upward trend, yesterday's announcement may boost the country's recent two-tier power market trend.　　Once the resolution is approved by the general meeting of shareholders, it will also form a substantial positive for the long-term development of the company. High dividend policy eye-catching national electric Power commitment 2010-2012 annual cash dividend is not less than 50% of the income achieved in the year, far more than the CSRC regulation of refinancing enterprises "in the last three years, the cumulative distribution of profits in the last three years, not less than the average annual distribution of profits to achieve the 30%" bottom line. Analysts believe that China's state-owned electricity in five years, the overall injection of its unlisted power generation assets into the national electric power commitment is the premise of this dividend bill. The continuous infusion of high-quality assets will provide a solid guarantee for the development of National electric power and the optimization of asset quality and structure.　　In the next few years, the growth of national Electric Power will be released faster, profitability is expected to greatly improve, so the company only "dare" to make the above dividend commitment. At the beginning of the year, "dividend concept" will become the focus of the capital market, the state power of electricity up to 50% of the cash dividend ratio, fear will be launched in advance "dividend market."　　A seller analyst said the current state-power electricity share price has been seriously underestimated, the recent stock price trend deserves attention. Inner Mongolia Coal Electricity integration layout at the beginning of the second half of the "crazy" coal price, the development and Reform Commission has recently repeatedly asked "limit", the price division director Cao Changqing "2011 Key contract coal prices to maintain 2010-year level unchanged, not in any form of fare increase." "The voice just fell, more heavy" 2011 National coal production and transport needs to connect the notice of the work was issued on 6th, the NDRC in the notice clearly requested that the 2011 "Key coal contract" price to maintain the level of stability last year. "Limit Orders" a market for coal prices in a straight straight, and some of the coal mining will be the news of the recovery more let analysts believe that next year the coal market may be more than needed.　　If the coal market began to "price increase", power enterprises will undoubtedly benefit. Although the 2011 coal prices may no longer post-season the electricity companies, but for the higher power generation of China's electricity companies, continue to promote coal-electricity integration is the key to reduce the risk of coal price fluctuationLink。 The five major power generation groups have integrated coal-electricity integration into strategic direction. State electric power is increasing the integration of coal and electricity distribution, yesterday, the announcement of the first phase of the distribution plant, the Harbin-Kazakhstan coal mine, Mongolia and other projects have integrated the concept of coal-electricity integration, the power of the country's profit promotion and asset optimization has a prominent significance. One phase of the plant has been approved by the NDRC, the power plant is located in the area of Mongolia, near the Shanxi flat-moon, Shaanxi Yulin and other coal concentration areas, the first phase of the project economic evaluation of the power plant is not included in the tax price of 0.196 yuan/kwh, compared to the western grid benchmarking benchmark Online price 0.2849 yuan/kwh,　　Have a clear competitive advantage. In addition to the total annual output of up to 12 million tons of production capacity of three coal projects, the company and Mongolia can invest in the cooperation will be extended to the railway and coal storage and transportation station construction, this will be the state electric power distribution in Inner Mongolia coal-electricity integration to provide convenient logistics. At the same time for the company to speed up the development of upstream industries, through the land, waterway Mong Judong sent southward transport channels to enhance the company's control of coal resources to add power.　　It is expected to get rid of the shortage of coal and the fluctuation of coal price, and get the new profit growth point of coal business. New and renewable energy will account for the total installed ratio of 41% "Twelve-Five planning" target clearly pointed out that will accelerate the development of hydropower, nuclear power construction, and actively and orderly wind power, solar energy, biomass energy and other renewable energy conversion and utilization.　　By 2015, China's hydropower and nuclear power accounted for a 1.5% increase in energy, wind power, solar energy, biomass and other new energy resources will increase the proportion of energy for a 1.8%. The resolution state electric Power disclosed the preliminary "Twelve-Five plan", the company will be in the "Twelve-Five" period plan to increase the proportion of new and renewable energy investment, green energy investment will account for the total investment 51.9%. Before the National Electric Power has proposed "new energy to lead the transition to achieve green development" strategic objectives, the company plans to achieve 2015 wind power capacity of 22.38%, hydropower accounted for 15.98% of the installed capacity, solar power plant accounted for 2.4% of the total installed capacity, nuclear power to achieve 4 Million-kilowatt capacity of equity participation.　　The proportion of new and renewable energies will account for 41% of the total installed capacity, achieving the goal of further optimizing the power structure. Non-electric industry as a new growth point in addition, the development of the non-electric industry will also help the development of Twelve-Five power. The plan shows that 2015 National Electric Power will basically realize coal planning and layout, occupies more than 5 billion tons of coal resources, coal production capacity of 66 million tons/year, of which the proportion of confession coal to the total required 40%. In the capital markets concerned about the railway equity participation, polysilicon and wafer production, and other aspects, the state electric Power also has measures: 35 will achieve the railway share mileage of 2500 kilometers, achieve polysilicon capacity of 3000 tons/year, wafer capacity 1350mw/years. Another will be to achieve the holding of urban heating Network 4, desalination capacity of 650,000 tons/year, through cooperation to achieve a breakthrough overseas projects. The diversified development of related industries can enhance the national electric power to resist systemic riskAbility。