Chuantou energy sees higher Q3 output, lower prices

Sichuan Chuantou Energy's consolidated power generation for January-September 2025 reached 5.075 billion kilowatt-hours (kWh), a 16.80% increase year-on-year. On-grid electricity volume also rose by 16.76% to 4.994 billion kWh. However, the average on-grid electricity price for the period decreased by 8.29% to 0.199 yuan per kWh.

Hydropower generation, a key segment, saw a 17.92% increase to 4.857 billion kWh, with on-grid volume up 17.89% to 4.778 billion kWh. Despite this growth, the average on-grid price for hydropower declined by 6.47% to 0.188 yuan per kWh. This reduction is attributed to 2025 contract prices being negotiated based on water periods, contrasting with 2024's full-year comprehensive transaction prices, and lower market selling prices during the high-flow season.

Conversely, photovoltaic (PV) power generation decreased by 3.54% to 0.218 billion kWh, with on-grid volume falling 3.57% to 0.216 billion kWh. The average on-grid price for PV projects, including national subsidies, dropped significantly by 12.55% to 0.439 yuan per kWh, primarily due to increased market competition and changes in the regional power market trading environment. The overall increase in generation and on-grid volume was primarily driven by the commissioning of units 1-4 at the Yinjiang Hydropower Station.