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        行业动态

        火电“洗牌”:央企剥离低效资产止损
        发布时间:2019-09-10
         

        继大唐国际连城发电有限责任公司、大唐保定华源热电有限责任公司破产清算之后,大唐集团旗下又一家发电厂被挂牌转让。

        2019815日,大唐甘肃发电有限公司在北京产权交易中心拟转让大唐甘肃发电有限公司甘谷发电厂(以下简称“甘谷发电”)的资产。

        “目前还处于意向公司报名阶段,至于价格是买卖双方面谈。”北京产权交易中心方面向《中国经营报》记者介绍称,甘谷发电装机规模2×330MW,总容量660MW,为亚临界直接空冷燃煤发电机组,于20068月开工建设,200712月底投产,属大唐甘肃发电有限公司内核单位。

        “近年来,随着清洁能源的发展,火电企业市场受到冲击,不过火电企业亏损,破产清算的速度之快还是让大多数从业者始料未及。”陕西省发改委一位受访官员认为,在火电厂设备利用率小于5500小时的情况下,小型火电企业破产清算仅仅是一个开始,行业“洗牌”或将临近。

         

        小火电企业“临冬”?

        小火电企业的“冬天”似乎渐行渐近。

        2019627日,大唐发电(601991.SH)曾公告称,由于控股子公司甘肃大唐国际连城发电有限责任公司无力支付到期款项(约1644.34万元),向甘肃省永登县人民法院申请破产清算。

        此前,在201812月,大唐发电也发布了《关于控股子公司申请破产清算的公告》。公告称,鉴于公司控股子公司大唐保定华源热电有限责任公司两台125MW机组被列入火电去产能计划,要求在2018年完成机组关停、拆除,且结合该企业资产负债状况,公司董事会同意该公司进入破产清算程序。

        大唐发电先后破产清算两家火电厂话音未落,大唐集团旗下的甘谷发电又在上交所转让其相关资产。据北京交易所方面介绍,目前愿意接手甘谷发电的意向企业并不是很多。

        在大唐清理火电资产的同期,其发电量也相应的有所下降。根据大唐发电公告称,截至2019630日,公司及子公司累计完成发电量约1238.57亿千瓦时,同比下降约5.22%;累计完成上网电量约1168.51亿千瓦时,同比下降约5.24%

        对此,大唐发电方面解释称,因京津唐和河北南网区域特高压配套电源陆续投产及新增装机规模增加,同区域存量火电装机受到挤占;东南沿海地区受用电量增速放缓、西电东送及水电、核电增发等因素影响,广东、福建、浙江区域企业电量同比减发;受产业政策影响,光伏、风电等非化石能源装机规模不断提高,同区域火电机组发电空间被挤压。

         

        事实上,并非仅有大唐发电一家发电量与售电量双双下降。

        根据华润电力(00836.HK)公告,20197月,其附属电厂售电量达到1339.7万兆瓦时,同比下降10%20191~7月,其附属电厂累计售电量达到8404.31万兆瓦时,同比下降5.9%

        张明(化名)为某央企陕西电厂的负责人,他认为目前有部分火电企业盈利薄弱,甚至亏损。但是不能因为少数火电厂破产清算或转让,就看衰整个行业。

        “相对于风电、太阳能,火电企业对环境影响较大,但这并不能阻碍其是我国电力的主要电源。”张明表示,火电企业最主要的成本就是燃料成本,近年来随着煤炭去产能的不断推进,煤炭价格高位且趋于稳定,少数没有煤矿支撑的火电企业的确经营较为困难。

         

        市场空间被挤压

        事实上,如今的电源结构正在悄悄的发生着变化。

        曾经被认为是“垃圾电”的风力发电、光伏发电,随着技术的不断革新,市场占有率正在不断提高。

        “甘肃、青海是风电以及光伏等新能源的集中发展区域,近年来这些区域的火电厂形势严峻。”张明向记者表示,大唐国际连城发电有限责任公司的破产清算,与该区域内清洁能源快速发展不无关系。该电厂曾经主要是给本地的连城铝厂供电,但是随着铝厂的关停,电厂就出现了“窝电”现象,因为在甘肃,近年来鲜有新增用电大户,因此大唐国际连城发电有限责任公司尽早关停,就有利于止损。

        “以前每逢冬季,为了缓解环保压力,多数电厂都会被地方政府要求减少开工率,有的甚至会要求关停,这对电厂来说是一种损失。”一位参与电力直接交易的电厂老板告诉记者,火电企业大多属于国有资产,其承担了很多社会责任,例如有的电厂即便是效益不好,也会继续开机,因为一旦停工,首当其冲的就是造成大量工人失业。

        据上述电厂老板透露,目前青海省多数大型火电机组停运已经超过3个月,即便是开机运营的电厂,大多也处于亏损状态。

        西北能监局近日就发布报告称,青海火电企业资产负债率接近90%,而且处于连年亏损困境。其中,大通电厂资产负债率98.7%,唐湖、宁北两座电厂负债率超过100%

        甘肃、青海火电企业经营困难或将为国内火电企业亮起了“警示灯”。据中电联的数据显示,20181~8月,火电业平均资产利润率仅为1.1%,全国火电行业亏损面为47.3%

        不过,与此形成鲜明对比的却是清洁能源蒸蒸日上。《中国可再生能源发展报告2018》统计,2018年,全国可再生能源年发电量同比增加10.1%18670亿千瓦时,占全部发电量的26.7%。其中,风电与光伏发电保持了快速增长的态势,2018年全国风电新增并网容量2059万千瓦,累计并网容量达1.84亿千瓦;2018年全国光伏发电新增装机容量4426万千瓦,累计并网容量达1.74亿千瓦。

        “以前光伏发电主要依靠补贴,经过技术不断革新,目前部分地区的光伏发电已经可以实现平价上网,也就是说即便是没有补贴也可以实现盈利。”隆基股份一位高管向记者表示,近年来清洁能源市场比重正在大幅度攀升,已经从2013年的15.5%上升至2018年的22.1%。有的省份清洁能源市场比重甚至超过40%,其中青海超过80%

        或许正是因为电力清洁化、低碳化是大势所趋,包括大唐发电在内的火电企业近年来也在布局清洁能源。大唐发电曾经将发展清洁能源作为一个重要的发展方向,截至2018年底,大唐发电的风电、水电和光伏等清洁能源的装机容量为15416兆瓦,占比约为26.55%。未来或许清洁能源的占比会在传统的火电企业中越来越大。

         

        火电行业或将迎来“洗牌”

        除了清洁能源崛起之外,燃料成本居高不下成为挤压火电利润的一个主要原因。加之折旧、维修及保养等其他领域的成本,如果火电上网无法提价,小的火电企业生存空间或许会越来越窄。

        另一方面,随着煤炭去产能接近尾声,火电去产能的脚步也在逐渐临近。近年来,我国经济增速放缓,电力供应产能过剩。公开数据显示,截至2018年底,全国发电装机容量19亿千瓦,全年发电设备平均利用小时数为3862小时,其中,全年火电设备平均利用小时数为4361小时。

        “火电厂设备利用率5500小时在行业内被认为一个分界点,如果设备利用率超过5500小时,那就说明供电区域内电能短缺,可以新增设备;反之则认为区域内电能已经饱和,不需要再新增设备。”张明认为,4361小时远远低于上述分界点,这就说明国内的发电产能已经严重过剩。

        然而,即便如此,我国除了每年有清洁能源发电设备投产之外,火电也有新增产能。如2018年,国内仍然有4119万千瓦的新增火电投产,占到新增电力装机的1/3,这样的新增速度,也使得我国火电装机容量首次突破11亿千瓦大关。

        “如煤炭一样,当产能严重过剩之后,就需要将那些落后的产能去掉。”陕西发改委人士告诉记者,由于电力供应严重过剩,近年来一些小的火电企业经营困难,有的甚至已经资不抵债,急需通过市场竞争将这些落后的产能淘汰。

        该人士称,火电去产能如同煤炭去产能一样,最终的结果是尽可能平衡供需关系,使得行业进入健康有序的发展轨道,这也是行业发展到一定阶段,必须有的阵痛。

        “如果没有配套煤矿,规模以及环保竞争力比较弱的火电企业势必会被市场所淘汰,因此,随着那些历史包袱重的小型电厂被破产清算,整个火电行业的洗牌潮也即将开启。”上述陕西发改委人士如是表示。(新闻来源:投资发展部摘自《中国经营报》)

         

         

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