Huadian Power's Q1 2025 generation decreases amid demand shift

Huadian Power International Corporation (HKEX:1071) announced a decrease in power generation and on-grid electricity sales for the first quarter of 2025. Total power generation was 51.38 million MWh, an 8.51% decrease compared to the same period last year, while on-grid electricity sold totaled 48.02 million MWh, an 8.50% decrease. The company attributes this decline to a looser electricity supply-demand balance, increased new energy capacity, and reduced utilization of coal-fired units, particularly in Shandong province. The average on-grid electricity tariff was RMB505.71 per MWh, down approximately 0.71% year-over-year.