The State Council recently approved the "Opinions on the Key Work of Deepening Economic System Reform in 2011" by the National Development and Reform Commission. According to this opinion, advancing the price reform of resource products will become the focus of this year's economic restructuring. The opinions put forward that it is necessary to promote the price reform of resource products such as refined oil, electricity, and natural gas, and to implement the ladder electricity price for residential electricity consumption at the right time.
From June 1st, the prices of electricity in 15 provinces and cities across the country have been raised, which opened the prelude to the reform of resource prices in the current year. The industry believes that the reason why the relevant departments have raised the price of electricity under the situation where the national inflation situation has not been eased is basically because the urgency of the current power shortage has exceeded short-term inflation pressure. In the same way, if the inflation situation in the second half of this year has been eased, the situation of price increases for resource-based products will be urgent, and the pace of the country's efforts to promote resource-based price products will inevitably accelerate.
The possibility of implementing the ladder price increase "Opinions on the key tasks for deepening the reform of the economic system in 2011" pointed out that this year it is necessary to take the opportunity to implement the electricity price ladder for residents.
In October 2010, the National Development and Reform Commission announced the "Guidance on the implementation of ladder electricity prices for residential electricity use (draft)). In the consultation draft, the National Development and Reform Commission divided the residents' monthly electricity usage into three grades to meet basic electricity demand, normal and reasonable demand for electricity, and higher quality of life. This opinion draft gives two ladder price plans. In scenario one, the first tranche of electricity is determined according to the average monthly electricity consumption of 70% of resident households. In scenario two, the first tranche of electricity is determined according to the average monthly electricity consumption of 80% of resident users.
Industry insiders believe that in the current situation of power shortage, the national power authority particularly emphasizes the need to manage the power shortage, and the ladder price as an effective means to ease the demand side, is likely to be introduced gradually this year.
Cai Guoxiong, deputy chief engineer of the State Grid Corporation of China, believes that under the current situation of total power shortage, the possibility of the country issuing a ladder-level electricity price will increase. At present, from a technical point of view, there is no difficulty in the introduction of ladder electricity prices. But at the same time, he also stated that the ladder price is simply a measure of power demand through price levers, and cannot combine demand-side electricity usage with the peak-valley electricity status of the grid. Because it is impossible to guide residents to use valley electricity at night, it is impossible to increase the electricity efficiency of residents. He suggested combining the ladder price with the time-of-use price.
The price of water or the “Key Opinions on Deepening Economic System Reform in 2011†was raised in a timely manner, mentioning that this year we must actively promote the reform of water prices and rationalize the collection of water resource fees and the price of water supply for water conservancy projects. The industry generally believes that as the country implements the most stringent water resources management system, whether it is residents' water or industrial water prices, it is possible to increase this year. Since the decision-making power of water price reform is in various price departments, the upward adjustment will be carried out separately in different regions.
The relevant person in charge of the National Development and Reform Commission once stated that the reform of resource prices in 2011 will start from the water price and actively carry out public trials of the water price to create favorable conditions for deepening the reform of water prices, and explore effective ways for the price reform of electricity, gas and oil resources. .
As with the ladder price, the price of ladder water has been considered by the industry as one of the directions for the future development of the water price mechanism reform. The so-called stepped water price, that is, a certain amount of water to a resident or enterprise in a certain period of time, set a different level on this basis, the more water consumption, the higher the water fee levied.
Luo Jianhua, secretary-general of the National Association of Industry and Commerce Environmental Services Chamber of Commerce, said that the price of water has been discussed for many years. As early as a few years ago, some people proposed to write the price of ladder water into the water law, but then they were rejected by the relevant authorities because of their immaturity.
Luo Jianhua believes that there are still some technical difficulties in implementing the current water price ladder. For example, whoever pays for the replacement of water meters. However, the price of ladder water will undoubtedly be a direction of water price reform. Especially in the area of ​​industrial water, the Central Document No. 1 this year proposed to implement the most stringent water resources management system. If the provinces put water resources quotas into enterprises, the part that exceeds the quotas will have to pay a higher price. This is at a certain level. To a certain extent, it is a step water price.
Earlier, Shi Yubo, head of the Water Department of the Water Resources Department of the Ministry of Water Resources, disclosed that the Ministry of Water Resources is formulating the “Opinions on Implementing the Most Stringent Water Resources Management System†and has completed the signing of 10 ministries and commissions, and will submit a further amendment to the State Council. The latest situation learned by the China Securities Journal reporter is that at present, this opinion has been formulated and will be reported to the State Council for approval by the General Office of the Ministry of Water Resources. This opinion sets a specific upper limit for the total amount of water used by provinces, autonomous regions and municipalities directly under the Central Government. Shi Yubo stated that the document only requires the total amount of water resources at the provincial level. As for how the provincial competent authorities decompose these indicators, whether they will control the total amount of major water users under their subordinates in order to achieve their total targets depends on the document. The specific method of the local government.
People in the industry believe that the implementation of total control over key areas and key water companies in the future will be a trend. On this basis, after the related corporate water use indicators are used, the new water consumption can only be met through the transfer of water rights and the use of non-traditional water sources, which will inevitably raise the cost of water use for the company. This is in combination with the possibility of launching a stepped water price.
For residents' water price reform, Jinyongxiang, general manager of Daoyue Consulting, believes that the inevitable increase in the price of water is due to the fact that the price of water for most urban residents cannot cover the cost of municipal water supply. In particular, for the sake of water supply security in some areas in recent years, a number of construction projects have started. Drinking water projects have increased the cost of water supply companies, and it is more difficult to rely solely on existing water prices to cover the cost of water supply. With the increase in water quality standards that have not come from, the cost of municipal water supply will further increase.
In addition, in recent years, part of the funds of the local government have been invested in drinking water projects. If the local governments do not improve the profitability of these projects by increasing the price of water for residents, the debt of the platform companies will be ineligible for repayment.
"Of course, the high cost of water supply companies is due in large part to their inflexible system, large number of employees, and high management costs. According to the NDRC's water pricing supervision and management measures, the cost of water prices is mainly self-reported by enterprises, and supervision is very difficult. Many companies have passed this part of the cost to the cost of water prices, which has indirectly pushed up the price of water indirectly. How to eliminate these unreasonable costs is a deep-seated institutional problem, said Jin Yongxiang.
People in the industry believe that whether the industrial water or residential water prices are raised, it will be a good thing for water companies. Under the related policies of total water resources control and water rights transfer, the sewage treatment industry will become the “creator†of water use indicators. This will greatly expand the market space for sewage treatment companies and bring new profit growth points to the sewage treatment market, where growth has slowed down.
The revision of the “Key opinions on deepening the reform of the economic system in 2011†also pointed out that the market reform of refined oil prices should be actively promoted, and a natural gas price formation mechanism reflecting the degree of resource scarcity and market supply and demand should be established to further rationalize The relationship between natural gas and alternative energy sources.
Last year, the National Development and Reform Commission issued a draft for the major domestic oil companies on the reform of the refined oil pricing mechanism. In addition to shortening the price adjustment interval for refined oil products from the current one month to 10 days, the draft also intends to decentralize refined oil pricing power. Specifically, there are two options to choose from. One is to delegate pricing authority to the three major oil giants. The NDRC entrusted the intermediary company to issue a price adjustment notice.
Sources said that the relevant departments have reported the reform plan for refined oil prices to the State Council, but they have not been approved. Although the final plan has not been approved, the shortening of the price adjustment period and the reduction in the rate of change in the three places have reached a high level of consensus at the market level.
In terms of natural gas price reform, it is reported that the National Development and Reform Commission will increase the ex-factory price of natural gas in the second half of this year. At present, in the international market, the price of natural gas is equivalent to 60% of the equivalent calorific value of crude oil, and China is only equivalent to a quarter. The price of natural gas in China is less than half that of imported natural gas.
Wang Zhen, Dean of the School of Business Administration of China University of Petroleum, believes that the demand for natural gas is growing too fast and the price of natural gas is too low, making it difficult to solve the problem of supply security through long-term production and import methods. Therefore, adjusting natural gas prices and their price management policies are inevitable. Only by rationalizing the price formation mechanism can we fundamentally solve the problem of gas shortages.
At present, China's onshore natural gas ex-factory price is set by the National Development and Reform Commission based on cost plus reasonable profit and considering the relationship between supply and demand. Natural gas pipeline transmission prices are also set by the National Development and Reform Commission; for local construction pipelines, the price of pipelines can be authorized by the State Council’s price authority. It is formulated by the provincial price department; the city gas price is set by the provincial price department, and there is no market-based price formation mechanism.
Li Diantang, vice general manager of PetroChina Sichuan Sales Chengdu Branch, believes that as a scarce resource, the future price increase of natural gas will be a long-term trend. Since the proportion of natural gas consumption in China's primary energy consumption is only about 3%, the formation of the natural gas pricing mechanism will inevitably be later than that of refined oil products. In the future, with the gradual increase in the proportion of natural gas in primary energy consumption, the natural gas price formation mechanism will be put on the agenda as soon as possible.
From June 1st, the prices of electricity in 15 provinces and cities across the country have been raised, which opened the prelude to the reform of resource prices in the current year. The industry believes that the reason why the relevant departments have raised the price of electricity under the situation where the national inflation situation has not been eased is basically because the urgency of the current power shortage has exceeded short-term inflation pressure. In the same way, if the inflation situation in the second half of this year has been eased, the situation of price increases for resource-based products will be urgent, and the pace of the country's efforts to promote resource-based price products will inevitably accelerate.
The possibility of implementing the ladder price increase "Opinions on the key tasks for deepening the reform of the economic system in 2011" pointed out that this year it is necessary to take the opportunity to implement the electricity price ladder for residents.
In October 2010, the National Development and Reform Commission announced the "Guidance on the implementation of ladder electricity prices for residential electricity use (draft)). In the consultation draft, the National Development and Reform Commission divided the residents' monthly electricity usage into three grades to meet basic electricity demand, normal and reasonable demand for electricity, and higher quality of life. This opinion draft gives two ladder price plans. In scenario one, the first tranche of electricity is determined according to the average monthly electricity consumption of 70% of resident households. In scenario two, the first tranche of electricity is determined according to the average monthly electricity consumption of 80% of resident users.
Industry insiders believe that in the current situation of power shortage, the national power authority particularly emphasizes the need to manage the power shortage, and the ladder price as an effective means to ease the demand side, is likely to be introduced gradually this year.
Cai Guoxiong, deputy chief engineer of the State Grid Corporation of China, believes that under the current situation of total power shortage, the possibility of the country issuing a ladder-level electricity price will increase. At present, from a technical point of view, there is no difficulty in the introduction of ladder electricity prices. But at the same time, he also stated that the ladder price is simply a measure of power demand through price levers, and cannot combine demand-side electricity usage with the peak-valley electricity status of the grid. Because it is impossible to guide residents to use valley electricity at night, it is impossible to increase the electricity efficiency of residents. He suggested combining the ladder price with the time-of-use price.
The price of water or the “Key Opinions on Deepening Economic System Reform in 2011†was raised in a timely manner, mentioning that this year we must actively promote the reform of water prices and rationalize the collection of water resource fees and the price of water supply for water conservancy projects. The industry generally believes that as the country implements the most stringent water resources management system, whether it is residents' water or industrial water prices, it is possible to increase this year. Since the decision-making power of water price reform is in various price departments, the upward adjustment will be carried out separately in different regions.
The relevant person in charge of the National Development and Reform Commission once stated that the reform of resource prices in 2011 will start from the water price and actively carry out public trials of the water price to create favorable conditions for deepening the reform of water prices, and explore effective ways for the price reform of electricity, gas and oil resources. .
As with the ladder price, the price of ladder water has been considered by the industry as one of the directions for the future development of the water price mechanism reform. The so-called stepped water price, that is, a certain amount of water to a resident or enterprise in a certain period of time, set a different level on this basis, the more water consumption, the higher the water fee levied.
Luo Jianhua, secretary-general of the National Association of Industry and Commerce Environmental Services Chamber of Commerce, said that the price of water has been discussed for many years. As early as a few years ago, some people proposed to write the price of ladder water into the water law, but then they were rejected by the relevant authorities because of their immaturity.
Luo Jianhua believes that there are still some technical difficulties in implementing the current water price ladder. For example, whoever pays for the replacement of water meters. However, the price of ladder water will undoubtedly be a direction of water price reform. Especially in the area of ​​industrial water, the Central Document No. 1 this year proposed to implement the most stringent water resources management system. If the provinces put water resources quotas into enterprises, the part that exceeds the quotas will have to pay a higher price. This is at a certain level. To a certain extent, it is a step water price.
Earlier, Shi Yubo, head of the Water Department of the Water Resources Department of the Ministry of Water Resources, disclosed that the Ministry of Water Resources is formulating the “Opinions on Implementing the Most Stringent Water Resources Management System†and has completed the signing of 10 ministries and commissions, and will submit a further amendment to the State Council. The latest situation learned by the China Securities Journal reporter is that at present, this opinion has been formulated and will be reported to the State Council for approval by the General Office of the Ministry of Water Resources. This opinion sets a specific upper limit for the total amount of water used by provinces, autonomous regions and municipalities directly under the Central Government. Shi Yubo stated that the document only requires the total amount of water resources at the provincial level. As for how the provincial competent authorities decompose these indicators, whether they will control the total amount of major water users under their subordinates in order to achieve their total targets depends on the document. The specific method of the local government.
People in the industry believe that the implementation of total control over key areas and key water companies in the future will be a trend. On this basis, after the related corporate water use indicators are used, the new water consumption can only be met through the transfer of water rights and the use of non-traditional water sources, which will inevitably raise the cost of water use for the company. This is in combination with the possibility of launching a stepped water price.
For residents' water price reform, Jinyongxiang, general manager of Daoyue Consulting, believes that the inevitable increase in the price of water is due to the fact that the price of water for most urban residents cannot cover the cost of municipal water supply. In particular, for the sake of water supply security in some areas in recent years, a number of construction projects have started. Drinking water projects have increased the cost of water supply companies, and it is more difficult to rely solely on existing water prices to cover the cost of water supply. With the increase in water quality standards that have not come from, the cost of municipal water supply will further increase.
In addition, in recent years, part of the funds of the local government have been invested in drinking water projects. If the local governments do not improve the profitability of these projects by increasing the price of water for residents, the debt of the platform companies will be ineligible for repayment.
"Of course, the high cost of water supply companies is due in large part to their inflexible system, large number of employees, and high management costs. According to the NDRC's water pricing supervision and management measures, the cost of water prices is mainly self-reported by enterprises, and supervision is very difficult. Many companies have passed this part of the cost to the cost of water prices, which has indirectly pushed up the price of water indirectly. How to eliminate these unreasonable costs is a deep-seated institutional problem, said Jin Yongxiang.
People in the industry believe that whether the industrial water or residential water prices are raised, it will be a good thing for water companies. Under the related policies of total water resources control and water rights transfer, the sewage treatment industry will become the “creator†of water use indicators. This will greatly expand the market space for sewage treatment companies and bring new profit growth points to the sewage treatment market, where growth has slowed down.
The revision of the “Key opinions on deepening the reform of the economic system in 2011†also pointed out that the market reform of refined oil prices should be actively promoted, and a natural gas price formation mechanism reflecting the degree of resource scarcity and market supply and demand should be established to further rationalize The relationship between natural gas and alternative energy sources.
Last year, the National Development and Reform Commission issued a draft for the major domestic oil companies on the reform of the refined oil pricing mechanism. In addition to shortening the price adjustment interval for refined oil products from the current one month to 10 days, the draft also intends to decentralize refined oil pricing power. Specifically, there are two options to choose from. One is to delegate pricing authority to the three major oil giants. The NDRC entrusted the intermediary company to issue a price adjustment notice.
Sources said that the relevant departments have reported the reform plan for refined oil prices to the State Council, but they have not been approved. Although the final plan has not been approved, the shortening of the price adjustment period and the reduction in the rate of change in the three places have reached a high level of consensus at the market level.
In terms of natural gas price reform, it is reported that the National Development and Reform Commission will increase the ex-factory price of natural gas in the second half of this year. At present, in the international market, the price of natural gas is equivalent to 60% of the equivalent calorific value of crude oil, and China is only equivalent to a quarter. The price of natural gas in China is less than half that of imported natural gas.
Wang Zhen, Dean of the School of Business Administration of China University of Petroleum, believes that the demand for natural gas is growing too fast and the price of natural gas is too low, making it difficult to solve the problem of supply security through long-term production and import methods. Therefore, adjusting natural gas prices and their price management policies are inevitable. Only by rationalizing the price formation mechanism can we fundamentally solve the problem of gas shortages.
At present, China's onshore natural gas ex-factory price is set by the National Development and Reform Commission based on cost plus reasonable profit and considering the relationship between supply and demand. Natural gas pipeline transmission prices are also set by the National Development and Reform Commission; for local construction pipelines, the price of pipelines can be authorized by the State Council’s price authority. It is formulated by the provincial price department; the city gas price is set by the provincial price department, and there is no market-based price formation mechanism.
Li Diantang, vice general manager of PetroChina Sichuan Sales Chengdu Branch, believes that as a scarce resource, the future price increase of natural gas will be a long-term trend. Since the proportion of natural gas consumption in China's primary energy consumption is only about 3%, the formation of the natural gas pricing mechanism will inevitably be later than that of refined oil products. In the future, with the gradual increase in the proportion of natural gas in primary energy consumption, the natural gas price formation mechanism will be put on the agenda as soon as possible.
Eva Resin,Hydrogenated Hydrocarbon Resin Co., Ltd. , http://www.nsresin.com