China Sets New Energy Targets
Click:47    DateTime:May.25,2021

The National Energy Administration (NEA) recently issued Guiding Opinions for Energy Industry 2021, setting targets in five aspects:

   * Energy structure – Proportion of coal will be down to below 56% in energy consumption, while that of electric energy up to around 28%. Electric energy used to replace other energy sources will increase by around 200 billion kWh.

   * Supply guarantee – Energy output will reach around 4.2 billion tons of standard coal, with oil output reaching around 196 million tons and natural gas output reaching around 202.5 billion cubic meters. Non-fossil energy generating capacity will try to reach around 1.1 billion kW.

   * Efficiency – Energy consumption per unit of GDP will decrease by around 3%. Resource allocation will be more reasonable, and utilization efficiency will be greatly improved. Utilization efficiency of renewable energies will remain high.

   * Innovation – The document calls for improving energy technologies, and researching key technologies or products to replace those from abroad. In addition, a group of energy technology innovation platforms will be established.

   * System reform – The government will conduct trial operation of longer-period settlement in electricity spot pilot areas, expand spot pilot scope and propel marketization of electricity trading.