The gradual release of non resident gas prices is in the firing line. The guiding opinions will be released soon.
source: China Securities newspaper - China Securities Journal
Chinese securities newspapers in May 16th learned from people in the know, National Development Reform The draft "guidance on strengthening the regulation of gas price regulation to promote the reform of non resident gas sales price (Draft)" will be released in the near future, and the price of non resident gas will be gradually liberalized.
analysts pointed out that the guidance (solicit draft) aims to solve the "last kilometer" problem of the natural gas market reform, and to regulate the terminal of the natural gas industry chain. Among them, the stipulation of the 6% rate of return of the local Gas Co after tax will re divide the interests of the downstream market of natural gas.
Guidance (Draft) to open the price reduction model of natural gas (solicit draft), the local price authorities should approve the independent price of air distribution and formulate the distribution of gas prices that distinguish the categories of users. The price of gas is formulated according to the principle of permitted cost plus reasonable profit, and the yield is allowed to be no more than 6% of the effective assets after tax.
at the same time, the NDRC encourages the areas with conditions to release non resident gas sales prices and no longer formulate specific prices; temporarily unqualified to open the area, we can take the lead in opening up the price of large user gas consumption, establish a linkage adjustment system for non resident gas purchase and sale price, and encourage large users to choose their own gas. Source, promote the separation of distribution and sales. It also requires all localities to formulate rules for gas price management and pricing cost supervision and examination.
industry sources revealed that the above "6% yield" whether or not the connection fee is still unknown. If there is no connection charge, it will have little impact on the profits of Gas Co; if the connection fee is included, it means that the profits of Gas Co will shrink considerably.
a commodity researcher told China Securities newspaper reporters that, for Huarun gas, Beijing gas, Hong Kong and China gas, Shaanxi gas, Changchun gas, Guizhou gas and other old companies, if the "6% rate of return" is stipulated, the gas price level will be greatly reduced, the interests of the enterprise may be Shrink. For the new private enterprises entering the gas industry, the "6% rate of return" stipulates that the income of the enterprise will be guaranteed to a certain extent, thus reducing the entry threshold of the industry.
favorable downstream terminal market
analysts said that the trend of liberalization of non resident gas prices is clear. In the future natural gas market, especially for non residents, the upstream and downstream users can achieve direct trading. This will directly reduce the price of natural gas, and then stimulate the downstream terminal market demand. The high gas price of
is an important reason for the lagging development of some natural gas follow-up markets such as natural gas power generation in China. Only by reducing the price of electricity generation can we reduce the price of gas power generation. People in the industry believe that, while speeding up the pace of natural gas price change, we should strive to promote direct butt trading between large-scale power generation users and upstream manufacturers, and direct supply of manufacturers is the key to the "dilemma" of the natural gas power generation industry.
for environmental protection considerations, natural gas power generation is the most potential plate for downstream consumption of natural gas, and gas generation is the trend of the times. "Natural gas development" 13th Five-Year "plan" clearly put forward that the next step to develop the natural gas power generation industry, by 2020, the scale of gas power generation installed up to 110 million kilowatts, accounting for more than 5% of the total installed capacity of power generation. The opinion on speeding up the use of natural gas (Draft) suggests that by 2020, the total installed capacity of natural gas power generation is 150 million KW, and gas generation gas is about 100 billion cubic meters. It is estimated that during the "13th Five-Year" period, the installed capacity of natural gas will reach 40 million to 80 million kilowatts, an increase of 57% to 114%.