What changes will occur in future peak electricity prices? Response from State Grid Energy Storage.

Regarding the question of "what changes will there be in future pumped storage electricity prices", Nanwang Energy Storage stated at the securities strategy meeting on November 6 that, according to Document No. 633, pumped storage electricity prices include capacity prices and energy prices. Currently, capacity prices account for more than 90% of the income structure of pumped storage power stations. At the same time, Document No. 633 stipulates: "Reduce the proportion of government-approved capacity prices covering the design capacity of station units in a timely manner, in order to promote the independent use of surplus unit capacity by power stations to participate in the electricity market, gradually realizing that power stations mainly recover costs and generate income through participation in the market". Therefore, the company understands that for new pumped storage power stations, the structure of income from capacity prices and energy prices may change in the future, and power station income is expected to depend more on its market competitiveness. Specific electricity price policies are subject to official documents from relevant national departments.