广发证券：大水电蓄能价值兑现电量增速显著跑赢行业

智通财经2025-07-09

智通财经APP获悉，广发证券发布研报称，一季度水电公司依赖蓄水实现电量提升，去年4-5月来水较好电量基数较高，今年4-5月份来水偏枯，全国水电电量分别同比-6.5%、-14.3%，而长江电力、雅砻江依赖蓄水仍然保持了电量提升。虽然二季度全国水电电量同比下滑，但大水电依赖蓄水和调节能力仍然实现电量提升。2025年下半年水电迎来投产高峰、去年8月后电量基数走低、成本费用持续下降、长协电价落地，水电业绩...

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广发证券：大水电蓄能价值兑现 电量增速显著跑赢行业

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广发证券：大水电蓄能价值兑现电量增速显著跑赢行业