National Energy Administration: Energy supply ample in first three quarters, new breakthroughs in green transition; solar power installed capacity historically surpasses coal power.

Zhitong Finance APP has learned that on October 30, the National Energy Administration held its quarterly regular press conference. The conference noted that since the beginning of this year, China's energy supply has been sufficient and supply and demand have been balanced, new progress has been made in the green and low-carbon transition, energy investment has shown an obvious trend toward new, better, and green development, and the influence of international cooperation has been further enhanced. Energy security guarantee capacity has steadily improved. In each month of the third quarter, total electricity consumption across society grew year on year continuously. In July and August, it exceeded one trillion kilowatt-hours for two consecutive months, setting new historical highs. Electricity load hit new historical highs four times, and electricity supply was sufficient with balanced supply and demand. New breakthroughs were made in the green and low-carbon transition. In July, installed photovoltaic power generation capacity historically surpassed coal power to become the power source category with the largest installed capacity scale. Energy investment continued to move toward new, better, and green development. Combined investment in fields such as power grids, new-type energy storage, and charging and battery-swapping infrastructure grew by 15.3% year on year. Completed investment in the hydrogen energy sector doubled compared with the same period last year. A new situation was opened in international energy cooperation. The APEC Energy Ministers' Meeting formed a "1+3+5" outcomes system, China-Russia energy cooperation advanced steadily, and the fourth Belt and Road Energy Ministers' Meeting will be held in Qingdao at the end of November.