Huaneng Power International, Inc.: Domestic Power Generation in the First Three Quarters of 2020 Decreased by 2.86% Year-On-Year

Rhea-AI Summary

Huaneng Power International, Inc. reported a total power generation of 110.385 billion kWh in Q3 2020, up 3.34% year-on-year, while total electricity sold increased by 0.81% to 103.790 billion kWh. However, power generation for the first three quarters decreased by 2.86% to 293.541 billion kWh and electricity sold declined 4.19% to 275.914 billion kWh. The average on-grid electricity settlement price fell 1.24% to RMB 412.52/MWh. The decrease in generation was attributed to COVID-19 impacts, competition from new energy sources, and increased hydropower generation.

Positive

• Q3 2020 power generation increased by 3.34% year-on-year.
• Electricity sold in Q3 2020 rose by 0.81%.
• Tuas Power Limited's market share in Singapore increased by 1.1 percentage points to 21.6% in Q3 2020.
• New operational capacity added of 940.42MW in Q3 2020.

Negative

• Total power generation for the first three quarters decreased by 2.86%.
• Electricity sold for the first three quarters dropped by 4.19%.
• Average on-grid electricity settlement price decreased by 1.24%.
• Decline in thermal power generation due to new energy competition.

BEIJING, Oct. 19, 2020 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its power generation in the first three quarters of 2020.

According to the preliminary statistics of Huaneng Power International, Inc., (the "Company"), in the third quarter of 2020, the Company's total power generation by power plants within China on consolidated basis amounted to 110.385 billion kWh, representing an increase of 3.34% over the same period last year. Total electricity sold by the Company amounted to 103.790 billion kWh, representing an increase of 0.81% over the same period last year. In the first three quarters of 2020, the Company's total power generation by the power plants within China on consolidated basis amounted to 293.541 billion kWh, representing a decrease of 2.86% over the same period last year. Total electricity sold by the Company amounted to 275.914 billion kWh, representing a decrease of 4.19% over the same period last year. For the first three quarters of 2020, the Company's average ongrid electricity settlement price for its power plants within China amounted to RMB412.52 per MWh, representing a decrease of 1.24% over the same period last year. For the first three quarters of 2020, the Company's market based electricity sold amounted to 156.228 billion kwh, with a ratio of 56.94% comparing to the corresponding total electricity sold, representing an increase of 5.71 percentage points over the same period last year.

The decrease in the Company's power generation was mainly attributable to the following factors:

1. Affected by the COVID-19 epidemic, the national electricity consumption growth slowed down;
2. The national wind power, photovoltaic and other new energy installations maintained a continuous and large-scale production momentum, thus crowding out the space for growth in thermal power generation. Jilin, Hubei, Chongqing, Jiangsu and other provinces and cities had increased hydropower generation significantly compared to the same period last year, and further squeezed the space for thermal power generation;
3. The increase of new thermal power units in areas where the Company is located had resulted in a decrease in the average utilization hours in those areas. While the Company had fewer new units and with the total installed capacity in the areas increases, the proportion of the Company's share of unit capacity decreases, thus resulting in a decline in thermal power generation compared to the same period last year.

The power generations (in billion kWh) of the Company, by regions, are listed below:

Region	Power Generation				Electricity Sold
	July to September 2020	Change	January to September 2020	Change	July to September 2020	Change	January to September 2020	Change
Heilongjiang Province	3.648	0.99%	10.423	0.90%	3.375	0.38%	9.704	1.32%
Coal-fired	3.404	0.74%	9.539	1.54%	3.141	-0.13%	8.843	1.95%
Wind-power	0.212	5.97%	0.781	-6.04%	0.202	8.64%	0.760	-5.14%
PV	0.032	-3.53%	0.103	-1.54%	0.032	2.14%	0.101	-1.26%
Jilin Province	3.179	6.41%	8.402	5.51%	2.986	6.01%	7.902	5.27%
Coal-fired	2.830	2.91%	7.298	4.80%	2.648	2.20%	6.853	4.68%
Wind-power	0.215	44.43%	0.782	5.80%	0.211	47.38%	0.747	3.98%
Hydro-power	0.015	-2.11%	0.057	34.83%	0.014	-0.47%	0.056	36.23%
PV	0.058	287.33%	0.090	87.96%	0.058	275.23%	0.089	88.53%
Biomass power	0.061	3.92%	0.175	2.73%	0.055	4.75%	0.157	2.31%
Liaoning Province	5.336	-3.91%	13.520	-5.51%	4.984	-3.92%	12.581	-5.61%
Coal-fired	5.211	-4.25%	13.076	-5.84%	4.861	-11.73%	12.143	-5.96%
Wind-power	0.067	13.07%	0.279	4.55%	0.066	14.67%	0.277	4.71%
Hydro-power	0.020	52.79%	0.040	46.38%	0.019	51.15%	0.039	45.70%
PV	0.039	-3.73%	0.124	-1.21%	0.038	-2.97%	0.122	-1.53%
Inner Mongolia	0.041	5.94%	0.148	-2.63%	0.040	6.86%	0.147	-2.36%
Wind-power	0.041	5.94%	0.148	-2.63%	0.040	6.86%	0.147	-2.36%
Hebei Province	3.089	-3.49%	8.707	-11.93%	2.877	-3.54%	8.115	-12.29%
Coal-fired	2.993	-5.25%	8.339	-14.14%	2.783	-5.40%	7.758	-14.59%
Wind-power	0.082	192.34%	0.324	145.20%	0.080	197.53%	0.314	144.04%
PV	0.014	1.31%	0.044	5.16%	0.014	0.23%	0.043	5.17%
Gansu Province	2.224	4.57%	9.563	20.52%	2.101	4.37%	9.089	20.70%
Coal-fired	1.582	-2.43%	7.688	19.86%	1.483	-2.47%	7.258	20.06%
Wind-power	0.642	26.96%	1.875	23.30%	0.618	25.48%	1.830	23.30%
Ningxia	0.007	-8.05%	0.020	2.60%	0.007	-7.39%	0.019	2.29%
PV	0.007	-8.05%	0.020	2.60%	0.007	-7.39%	0.019	2.29%
Beijing	2.022	-18.43%	6.120	-0.66%	1.965	-18.24%	5.866	-0.29%
Coal-fired	-	-	0.709	8.03%	-	-	0.625	7.62%
Combined Cycle	2.022	-18.43%	5.411	-1.70%	1.965	-18.24%	5.241	-1.16%
Tianjin	1.591	-0.06%	4.650	-3.01%	1.504	0.63%	4.365	-3.06%
Coal-fired	1.208	-7.05%	3.567	-4.79%	1.125	-7.05%	3.313	-4.96%
Combined Cycle	0.379	30.13%	1.071	2.38%	0.369	30.25%	1.040	2.58%
PV	0.004	297.17%	0.012	304.31%	0.010	1107.52%	0.011	354.59%
Shanxi Province	2.951	12.98%	7.569	-3.41%	2.735	13.39%	7.033	-3.51%
Coal-fired	2.762	6.85%	5.926	-9.82%	2.546	6.52%	5.437	-10.31%
Combined Cycle	0.002	-	1.235	3.24%	0.002	-	1.202	3.24%
PV	0.187	593.43%	0.408	491.76%	0.186	776.69%	0.394	523.56%
Shandong Province	22.657	8.04%	57.991	-8.86%	21.098	1.72%	53.965	-11.64%
Coal-fired	22.394	7.94%	57.035	-9.16%	20.871	1.69%	53.068	-11.85%
Wind-power	0.126	28.12%	0.546	-3.36%	0.092	-11.76%	0.495	-9.13%
PV	0.137	-5.36%	0.409	23.66%	0.135	18.62%	0.402	22.79%
Henan Province	6.052	-3.15%	15.682	-7.99%	5.704	-3.28%	14.742	-8.15%
Coal-fired	5.639	-5.00%	14.392	-11.69%	5.297	-5.32%	13.509	-11.86%
Combined Cycle	0.180	-16.71%	0.576	43.29%	0.175	-16.76%	0.562	43.41%
Wind-power	0.227	151.83%	0.695	113.93%	0.225	165.73%	0.652	110.06%
PV	0.006	-11.53%	0.019	-5.88%	0.006	-11.44%	0.019	-4.60%
Jiangsu Province	11.000	1.68%	28.008	-7.17%	10.430	2.09%	26.541	-7.06%
Coal-fired	9.114	4.73%	23.017	-8.77%	8.602	5.31%	21.717	-8.55%
Combined Cycle	1.302	-23.38%	3.063	-17.12%	1.275	-23.38%	3.004	-17.12%
Wind-power	0.515	35.28%	1.801	56.30%	0.492	38.19%	1.702	54.37%
PV	0.069	91.31%	0.127	36.79%	0.062	115.12%	0.118	39.64%
Shanghai	4.581	2.13%	12.574	-5.55%	4.315	1.97%	11.857	-5.81%
Coal-fired	4.101	9.63%	11.396	-0.79%	3.850	9.82%	10.710	-0.89%
Combined Cycle	0.472	-36.69%	1.170	-35.98%	0.459	-36.77%	1.141	-36.02%
PV	0.008	-	0.009	-	0.006	-	0.006	-
Chongqing	2.263	-5.18%	6.679	-11.99%	2.097	-5.92%	6.213	-12.17%
Coal-fired	1.720	3.78%	5.401	-12.48%	1.567	3.25%	4.969	-12.70%
Combined Cycle	0.456	-32.25%	1.081	-13.33%	0.444	-32.28%	1.053	-13.36%
Wind-power	0.088	54.14%	0.197	15.25%	0.086	55.07%	0.192	14.57%
Zhejiang Province	7.294	6.52%	19.048	0.89%	6.982	6.43%	18.252	0.78%
Coal-fired	6.995	6.06%	18.484	0.37%	6.690	5.95%	17.699	0.24%
Combined Cycle	0.283	21.99%	0.520	25.40%	0.277	22.05%	0.509	25.40%
PV	0.016	-20.63%	0.044	-10.32%	0.016	-20.00%	0.043	-9.46%
Hubei Province	3.637	-37.13%	10.997	-29.02%	3.400	-37.34%	10.310	-29.23%
Coal-fired	3.386	-39.53%	10.293	-30.96%	3.156	-39.83%	9.622	-31.25%
Wind-power	0.113	-11.63%	0.420	2.40%	0.111	-11.89%	0.413	2.54%
Hydro-power	0.131	162.56%	0.267	69.97%	0.126	166.45%	0.258	70.21%
PV	0.006	-20.92%	0.017	-2.83%	0.006	-17.50%	0.017	-0.84%
Hunan Province	2.708	-17.80%	7.378	-10.73%	2.514	-18.49%	6.875	-11.14%
Coal-fired	2.503	-19.91%	6.600	-12.25%	2.313	-20.69%	6.116	-12.66%
Wind-power	0.133	49.28%	0.469	13.34%	0.130	47.82%	0.455	11.12%
Hydro-power	0.058	-18.25%	0.273	-11.54%	0.057	-18.90%	0.269	-11.41%
PV	0.015	46.60%	0.036	70.38%	0.014	50.49%	0.035	70.32%
Jiangxi Province	6.268	4.13%	15.269	-0.08%	6.005	4.44%	14.612	-0.01%
Coal-fired	6.001	2.05%	14.490	-2.44%	5.743	2.30%	13.855	-2.39%
Wind-power	0.193	40.03%	0.631	47.44%	0.190	40.41%	0.619	47.42%
PV	0.073	-	0.148	-	0.072	-	0.138	-
Auhui Province	1.267	-18.45%	3.781	-16.96%	1.187	-19.29%	3.586	-17.20%
Coal-fired	1.083	-24.92%	3.432	-19.29%	1.024	-24.76%	3.259	-19.19%
Wind-power	0.112	43.90%	0.261	18.37%	0.091	18.48%	0.239	9.69%
Hydro-power	0.072	119.28%	0.088	9.80%	0.072	119.52%	0.088	9.90%
Fujian Province	6.315	83.20%	12.926	63.17%	6.002	32.62%	12.274	30.61%
Coal-fired	6.312	83.32%	12.917	63.23%	5.999	32.66%	12.265	30.63%
PV	0.003	-14.21%	0.009	3.46%	0.004	-10.00%	0.009	4.90%
Guangdong Province	7.692	23.01%	17.924	6.14%	7.265	21.87%	16.883	4.62%
Coal-fired	6.840	9.52%	16.851	-0.11%	6.533	9.71%	16.113	-0.06%
Combined Cycle	0.845	-	1.055	-	0.726	-	0.753	-
PV	0.007	-5.20%	0.017	9.33%	0.007	-2.88%	0.017	8.94%
Guangxi	0.191	83.45%	0.480	76.70%	0.181	84.28%	0.460	79.21%
Combined Cycle	0.135	86.81%	0.319	66.02%	0.129	90.65%	0.306	67.61%
Wind-power	0.056	75.89%	0.161	101.51%	0.052	70.19%	0.154	107.87%
Yunnan Province	0.996	10.97%	5.615	94.08%	0.917	11.78%	5.178	94.59%
Coal-fired	0.867	7.44%	5.145	114.83%	0.791	8.12%	4.722	116.77%
Wind-power	0.108	72.97%	0.445	-3.48%	0.105	73.84%	0.432	-3.26%
Hydro-power	0.021	-26.02%	0.025	-32.58%	0.021	-25.90%	0.024	-32.52%
Guizhou Province	0.075	200.94%	0.241	43.96%	0.074	198.31%	0.231	40.42%
Wind-power	0.046	83.97%	0.180	7.43%	0.045	83.26%	0.178	7.84%
PV	0.029	-	0.061	-	0.029	-	0.054	-
Hainan Province	3.300	-4.73%	9.827	-5.41%	3.044	-4.93%	9.113	-5.32%
Coal-fired	3.144	-4.67%	9.445	-6.01%	2.891	-4.85%	8.740	-5.94%
Combined Cycle	0.108	36.56%	0.215	117.09%	0.105	37.33%	0.209	116.71%
Wind-power	0.009	-35.63%	0.057	-5.45%	0.009	-36.40%	0.055	-5.69%
Hydro-power	0.008	-81.21%	0.026	-73.54%	0.008	-81.47%	0.025	-73.86%
PV	0.031	3.79%	0.084	3.46%	0.031	4.51%	0.083	3.51%
Total	110.385	3.34%	293.541	-2.86%	103.790	0.81%	275.914	-4.19%

For the third quarter of 2020, the power generation of Tuas Power Limited in Singapore, which is wholly-owned by the Company, accounted for a market share of 21.6% in Singapore, representing an increase of 1.1 percentage points compared to the same period last year. In the first three quarters of 2020, the accumulated power generation accounted for a market share of 21.5%, representing an increase of 1.0 percentage point compared to the same period last year.

In the third quarter of 2020, the Company has put into operation a total of 940.42MW of controlled installed capacity, and a total of 940.42MW of equity installed capacity; of which, thermal power units were 472.52MW, wind power units were 392.9MW, and photovoltaic units were 75MW.

In the third quarter of 2020, the Company's wholly-owned Huaneng Fujian Luoyuan Power Plant which has two units with capacity of 1,320MW, and the 80%-owned Huaneng Shandong Yantai Bajiao Power Plant which has two units with capacity of 1,340MW, officially transferred to commercial operation.

Meanwhile, the installed capacity of certain power plants invested by the Company changed in the third quarter of 2020.

Based on the above, as of 30 September 2020, the Company had a controlled installed capacity of 111,971MW and an equity-based installed capacity of 98,217MW.

About Huaneng Power International, Inc.

Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 111,971MW and equity-based generation capacity of 98,217MW. The power plants of the Company are located in 26 provinces, autonomous regions and municipalities in China. The Company also has a wholly-owned power company in Singapore, and an invested power company in Pakistan.

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SOURCE Huaneng Power International, Inc.

FAQ

What is Huaneng Power's total power generation for Q3 2020?

Huaneng Power's total power generation for Q3 2020 was 110.385 billion kWh.

How much did Huaneng Power's electricity sales increase in Q3 2020?

Electricity sales increased by 0.81% in Q3 2020 to 103.790 billion kWh.

What was the average on-grid electricity settlement price for Huaneng Power?

The average on-grid electricity settlement price was RMB 412.52 per MWh.

Has Huaneng Power's market share in Singapore increased?

Yes, Huaneng Power's market share in Singapore increased by 1.1 percentage points to 21.6%.

What contributed to the decline in Huaneng Power's generation in 2020?

The decline in generation was mainly due to COVID-19 effects, increased competition from new energy, and higher hydropower output.