智通财经APP获悉，大和发布研究报告称，江苏省电力交易中心最新资料显示，该省2025年度整体电价每兆瓦时减少40元人民币，降幅8.9%，基本符合市场预期及大和的预测，相信今次电价全面下降对燃煤和水力发电企业影响可控。
大和预测，江苏省明年降电价将为煤企带来每兆瓦时9至15元人民币的点火价差(Dark Spread)收窄，部分已被较低的煤价所抵销，而对于水电预期会带来约1%至4%的盈利影响。
该行对中国电力行业维持中性看法，对长江电力(600900.SH)、华润电力(00836)及华能国际电力股份(00902)均给予“持有”评级，相信负面因素已反映在其股价表现上。另外由于仍然看淡可再生能源前景，因此大和对龙源电力(00916)维持“跑输大市”评级。目前电力行业，较偏好火电公司。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.