Huaneng Power International, Inc. (HPI), one of China's largest power companies, said its long-term contract coal fulfillment rate was 75% or so in the first three quarters of the year.

The comprehensive delivered price of standard coal for the three quarters stood at 1,096.67 yuan/t, excl. VAT, a year-on-year decrease of 12.85%, it told investors recently.  

Regarding the recent introduction of capacity-based pricing mechanism, HPI highlighted the positive impact on coal-fired power plants. The policy, it noted, acknowledges the value of reliable capacity provided by coal-fired power units, offering a safeguard for sustainable production and operation of coal power enterprises.

In addition, HPI introduced its progress in the "dual carbon" transition. The company reported an addition of over 4.4 GW in new energy capacity during the first three quarters. As of end-September, the proportion of low-carbon clean energy capacity within the company's portfolio exceeded 28%, it said.

During the first three quarters of 2023, the company achieved a total revenue of 191.32 billion yuan (around $27 billion), up 4.01% year on year. Its net profit reached 12.56 billion yuan, swinging from the loss during the same peirod last year.

(Writing by Alex Guo  Editing by Harry Huo)
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