The National Development and Reform Commission supervised the signing of the coal long-term contract

Recently, the National Development and Reform Commission issued the "Notice on Accelerating the Signing and Strict Performance of Medium and Long-term Coal Contracts", requiring the signing of medium- and long-term coal contracts to be accelerated and strictly implemented.

The notice made it clear that the contract signing work should be completed before mid-April to ensure that the number of annual medium and long-term contracts signed accounts for more than 75% of the supply or procurement volume. From April, the performance of the contract will be reported to the National Development and Reform Commission before the 15th of each month to ensure that the annual performance rate is not less than 90%.

Notice requirements to strengthen punishment work. As of the end of April, where the contract ratio is less than 75%, the quarterly performance rate is less than 80% or the half-year performance rate is less than 90%, the National Development and Reform Commission or the provincial economic operation department will interview and notify the relevant enterprises; Enterprises that account for less than 75% of the annual contract volume or less than 90% of the contract will be punished by differential electricity prices and the reduction of planned electricity by relevant power generation enterprises.

Zhang Min, an analyst of the coal industry of Zhuochuang Information, said in an interview with a reporter from China Securities Network that the measure is conducive to the stability of thermal coal prices. Recently, thermal coal has officially entered the off-season of consumption, and the market price of many links such as origin and port has dropped significantly in the past week. Most coal researchers believe that thermal coal prices will face a certain degree of correction in the later period, and it is difficult to predict the magnitude at present.

The reporter learned from some coal power companies that some coal companies set a corporate target at the end of last year, with long-term agreements accounting for about 70% of the total supply. *The overall implementation of the long-term coal-fired power agreement in the quarter of 5656 is acceptable, with the supply of coal in some areas being tight, the upstream and downstream of coal-fired power being fiercely seesawing, and the inventory of power plants being low.

According to the research of Zhuochuang Information, with the recent continuous decline in the price of coal in the power plant receiving market, the advantage of long-term coal price has gradually disappeared, and the price of long-term coal in Shandong power plant has been inverted in April. Taking a state-owned power plant as an example, the current market coal purchase price in the province is about 0.115 yuan/kcal, and the purchase price of coal outside the province is 0.105-0.11 yuan/kcal, while the long-term coal price implemented by the power plant and local coal enterprises is as high as 0.12 yuan/kcal.