Huatai Securities: Optimistic about investment opportunities nurtured by the price difference between capacity electricity prices and peak-valley prices during the 15th Five-Year Plan period.

Huatai Securities is optimistic about the investment opportunities created by the price difference between peak and off-peak electricity during the "15th Five-Year Plan" period. It believes that the price difference between peak and off-peak electricity in most regions of the country will reach around 0.4 yuan/kWh during the years 2027-2030. With the appropriate capacity-based pricing mechanism, thermal power, electrochemical energy storage, and pumped storage can achieve reasonable returns. It recommends leading equipment manufacturers, leading operators in thermal power and pumped storage, as well as nuclear power operators.