Analysis of Global Power Market

Analysis of China's Power Operation Market Power Generation (1/2) • . • The total power output in China increased from 5,372.1 TWh in 2013 to 6,994.0 TWh in 2018 with a CAGR of 5.4% and is expected to further grow to 9,123.6 TWh in 2023, indicating a CAGR of 5.5% during the period from 2018 to 2023. The total power output in China increased from 6,022.8 TWh in 2016 to 6,994.0 TWh in 2018 with a CAGR of 7.8% and is expected to further grow to 9,123.6 TWh in 2023, indicating a CAGR of 5.5% during the period from 2018 to 2023. Currently, thermal power is, and will continue to be, the major power source in China. However, the Chinese government is promoting the development of clean energy, including hydropower, wind power, solar power and nuclear power. The hydropower is the second largest power source and is growing faster than thermal power in terms of power output. The proportion of wind power and solar power in total power output has also been growing steadily. According to The 13th Five- Year Plan for Power Development (2016-2020) LA&E “TE”(2016-2020) and The Strategy of Reforming Energy Production and Consumption (2016-2030) (2016-2030), the development of these clean energy sources is a strategic focus of China's power industry in both short term and long term. Driven by the specific incentive policies for these clean energy sources and continuously growing power demand in China, a dynamic growth will be maintained for these clean energy sources in the coming years. Source: CEC, NEA, Frost & Sullivan FROST & SULLIVAN 37

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