The reason for the increase in the cost of fuel costs, Datang Power believes that the main reason is that thermal power on-grid electricity increased by 12.963 billion kWh over the same period of last year. At the same time, due to the continuous rise in coal prices and high-level operation, the unit fuel cost increased by 26.83 yuan over the same period of last year. Megawatt hour.
According to the company's June announcement of the price increase, the average on-grid tariff (including VAT) of the company's thermal power increased by 10.11 yuan/MWh from the previous adjustment, an increase of approximately 2.63%. It can be calculated that the average on-grid tariff of the company's thermal power before June was 0.384 yuan. /degree.
In other words, thermal power on-grid electricity increased by 12.963 billion kWh, corresponding to thermal power revenue of 4.978 billion renminbi. The operating revenue and operating costs of electricity sales were 30.264 billion and 24.86 billion yuan, respectively, and the cost accounted for 0.82 of revenue. Since the total installed capacity of thermal power installations in Datang accounted for 86.62%, the operating cost of the increase in on-grid power generated by thermal power was RMB 4.089 billion, and the cost of converted electricity and fuel was RMB 2.775 billion under the influence of other power generation cost gaps.
From this crude calculation, it can be seen that out of the increase of 4.814 billion yuan in the cost of electricity and fuel, there are 2.775 billion yuan for the increase of electricity, and another 2.039 billion yuan for the increase in unit fuel cost, which accounts for 42.4% of the total. In other words, the impact of rising coal prices on the cost and profit of Datang Power in the first half of the year is 40%.
Moreover, the announcement stated that the average on-grid tariff of the company increased by approximately RMB 22.80/MWh from the same period of last year, and the unit fuel cost increased by RMB 26.83/MWh from the same period of last year. The impact of the increase in coal price after offset was only 4%/kWh.
After June 1, the state increased the on-grid tariff in some provinces. According to an announcement released by Datang Power, after the increase, the average on-grid electricity price of the company’s thermal power rose by 0.1 yuan per degree before the adjustment, which could completely offset the impact of coal prices at 4 cents. .
At the same time, in respect of financial expenses, the announcement stated that the company’s financial expenses for the first half of the year was approximately RMB 3,258 million, an increase of approximately RMB 719 million or approximately 28.32% over the same period of the previous year. The larger increase was mainly due to the increase in interest rates and interest-bearing interest rates. The increase in debt.
By comparison, it can be seen that the increase in coal costs caused by the increase in fuel costs is 2.039 billion yuan, and the financial cost is 3.258 billion yuan. The financial costs are relatively high, but it can also be seen that if there is no net electricity price offset, coal prices Fuel costs will also be more than 3 billion yuan, which is even higher than financial expenses.
Datang Power Generation: fuel costs accounted for 67.87% of operating costs, an increase of 34.2% over the same period of last year
Taking Datang Power as an example, the total operating cost of the company in the first half of the year was approximately 27.806 billion yuan, a year-on-year increase of 15.33%. Among them, the cost of electricity and fuel was 18.871 billion yuan, accounting for 67.87% of operating costs, an increase of 4.814 billion yuan from 14.057 billion yuan in the same period of last year, an increase of 34.2% year-on-year.