Zhejiang 14FYP: Coal Power and Oil Demand Maintain Growth
Source: Mysteel
Apr 14, 2023 16:20
- The 14th Five-Year Plan(FYP) for Energy Development in Zhejiang (the Plan) proposed that the development of nuclear power and renewable energy is essential, that the expansion of natural gas use is a transitional alternative, and that coal power installation and oil demand will continue to rise.
- Zhejiang Province is under greater pressure to reduce carbon emissions, and the Plan calls for a 5% decline in total coal consumption by 2025 compared to 2020. However, coal power will continue to serve as a foundation role in its power system, with a 2.5% increase in installed capacity from 2021 to 2025.
- In 2021-2025, the province's refining capacity is projected to reach 90 million tonnes, with oil growth remaining stable due to the expansion of the chemical feedstock sector.
- During the 14th FYP (2021-2025) period, total natural gas consumption in Zhejiang Province is projected to increase by 17.1% each year, with the largest potential for growth in gas-fired power generation, which is projected to account for more than 19% of the province's electricity generation in 2025.
- By 2025, the proportion of installed non-fossil energy will be 45.6%; the proportion of electricity consumed by non-fossil energy will be around 40% of the overall power consumption of society, an increase of 5.9% and 10% over 2020, respectively.
- By 2025, the public sector will construct more than 800 integrated energy service stations, 50 hydrogen refueling stations, and more than 80,000 charging piles.
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Written by the GL Consulting team (Mysteel's consultancy arm on energy transition): glconsulting@mysteel.com
Edited by Navy Liu: liuchuanjun@mysteel.com
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