NDRC and NEA Issue 15th Five-Year Power Plan for Coal-Fired Flexibility Retrofits and New Energy Integration
China's National Development and Reform Commission and National Energy Administration have issued the 15th Five-Year Plan for Building a New-Type Power System, requiring existing coal-fired units to undergo wide-load high-efficiency retrofits and limiting the coal consumption increase under low-load operation to within 25%. The plan supports coal power and new energy integration projects, and calls for flexibility retrofits of all eligible existing units by 2030. Combined heat and power units must achieve minimum power output below 40%, with heat-power decoupling encouraged to maintain stable heating.
The National Development and Reform Commission and the National Energy Administration have issued the 15th Five-Year Plan for Building a New-Type Power System. The plan calls for promoting wide-load high-efficiency retrofits of existing coal-fired units, with the increase in coal consumption under low-load operating conditions kept within 25%. In areas where conditions permit, a number of projects involving co-firing of zero- and low-carbon fuels and carbon capture, utilization and storage will be retrofitted and built.
The plan specifies that policies for the integrated development of coal power and new energy will be formulated, and supports priority implementation of a batch of coal power and new energy integration projects in eligible regions. Through retrofits to enhance coal power regulation capability, the plan aims to promote coupling and integration of coal power and new energy systems, achieve integrated regulation and transmission, and reduce coal-fired power generation.
The plan requires implementing the special action for new-generation coal power upgrades, enhancing coal power's deep, fast and efficient regulation capabilities, and improving the capacity pricing mechanism for coal power. By 2030, flexibility retrofits of existing units should be completed for all units that require them. The minimum power output of combined heat and power units should reach below 40%, and further flexibility improvements are encouraged through heat-power decoupling and other electric-thermal coordination methods, while ensuring stable heat supply.
Why this event matters
The event has a measured impact on 5 industrys. The strongest current signal is positive for Thermal Power, with intensity 70/100 and 85% confidence over a medium term horizon.
Thermal Power
- Direction
- positive
- Intensity
- 70
- Confidence
- 85%
- Horizon
- Medium term
Wind & Solar Power
- Direction
- positive
- Intensity
- 60
- Confidence
- 80%
- Horizon
- Medium term
Wind & Solar Equipment
- Direction
- positive
- Intensity
- 55
- Confidence
- 75%
- Horizon
- Medium term
Power Transmission Networks
- Direction
- positive
- Intensity
- 50
- Confidence
- 75%
- Horizon
- Medium term
Power Equipment
- Direction
- positive
- Intensity
- 50
- Confidence
- 70%
- Horizon
- Medium term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.