National Grid plans to achieve a 16% profit increase this year

The annual work conference held by the State Grid Corporation of China on the 5th showed that in 2011, the company realized a total profit of 53.3 billion yuan, an increase of 18% over the same period of last year; the first grid investment exceeds 300 billion yuan, reaching 301.9 billion yuan; it plans to achieve a profit growth of 16% in 2012. 620 billion yuan, grid investment increased by 7.8 billion yuan to 309.7 billion yuan.

Liu Zhenya, general manager of the State Grid Corporation of China, pointed out in his work report that the company completed a fixed asset investment of 333.3 billion yuan in 2011, an increase of 13.5% year-on-year, of which power grid investment was 301.9 billion yuan; sales of electricity 3,029 billion kwh, an increase of 13.7%; operating income 16760 Billion yuan, an increase of 11.6%; total profit of 53.3 billion yuan, an increase of 8.3 billion yuan. According to previous data from the State-owned Assets Supervision and Administration Commission of the State Council, total profits of the State Grid Corporation amounted to 45 billion yuan in 2010, of which net profit was 32.44 billion yuan, ranking sixth among 102 central enterprises.

Liu Zhenya said that last year, China's coal and electricity transportation was tense, and the contradiction between power supply and demand was prominent. The maximum power shortage exceeded 30 million kilowatts. Faced with the severe challenges brought by rising coal prices, reduced inflows, and frequent disasters, the State Grid insists on safety first, places priority on ensuring the safety of major power grids, and plays a role in UHV and trans-regional power grids. Resource allocation increased electricity supply, eased power shortages in East China and Central China, and ensured the orderly supply of electricity in 26 provinces.

Liu Zhenya stated that in 2012, the State Grid planned to complete a fixed asset investment of 336.2 billion yuan, of which the power grid investment was 309.7 billion yuan; the sale of electricity was 3,370 billion kwh, an increase of 9%; the operating income was 1,9422.5 billion yuan, an increase of 15.9%; and the profit was realized. 620 billion yuan.

He said that in 2012, the State Grid will make new breakthroughs in the construction of smart grids, especially focusing on promoting the preliminary work of UHV transmission projects to ensure that a number of UHV AC/DC transmission projects will be approved or commenced construction within the year. In 2012, the State Grid will accelerate the construction of a strong smart grid with UHV grids as the backbone grid. It will concentrate on promoting the UHV preparatory work to ensure that 4 UHV AC projects and 3 UHV DC projects have been approved by the State and commenced. "Straight and straight three straight" is Ximeng to Nanjing, Huainan to Shanghai, Mengxi to Changsha, Ya'an to Weinan UHV AC project, Hami South to Zhengzhou, Xiluodu to West Zhejiang, Hami West to Chongqing UHV DC project. It is also necessary to strive for a UHV AC project in northern Zhejiang and Fuzhou, and the two UHV DC projects in Zhundong-Sichuan and Ximeng-Taizhou were approved during the year.

He said that the next step is to work hard to promote the company's five-year power grid plan into the country's "12th Five-Year Plan" special network planning, and strive for U.S. high-pressure project early approval, early construction, early network, play a role as soon as possible.