公用事业——2026年度策略绿电篇：入市与破局

郭丽丽的研究札记01-10

摘要▍新能源市场化进程持续推进，电价压力仍存新能源加速入市，“136号文”竞价工作持续推进。“136号文”以2025年6月1日为节点，对存量和增量项目进行分类施策，从各地配套细则及竞价结果来看，存量新能源项目注重与现行具有保障性质的相关电量规模相衔接，收益过渡相对平稳，而增量项目机制电价大多低于本省燃煤基准价，收益波动性或明显增强。同时，现货市场、增值税政策、补贴回收等多项边际变化均会影响新能源...

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