Do new energy power generation companies have better financial performance? An analysis for China’s power generation industry

IF 3.1 4区工程技术 Q3 ENERGY & FUELS

Energy Sources Part B-Economics Planning and Policy Pub Date : 2022-01-05 DOI:10.1080/15567249.2021.2023707

Hangxing Zhou, Jian Sun

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引用次数: 1

Abstract

ABSTRACT Fossil-fired power generation is the most significant contributor to China’s carbon emissions. New energy such as wind and solar is rapidly deploying in China and is considered an alternative to fossil energy. This paper focuses on the comparison in financial performance between fossil-fired generation and new energy generation companies. To do so, we combine the listed companies’ financial data from 2010 to 2020 with the catastrophe progression method to evaluate the financial performance of China’s power generation companies. The results indicate that although the profitability of the fossil-fired generation industry has stagnated in the past ten years, its comprehensive financial performance is still better than that of the new energy industry. The profitability of new energy companies has increased significantly in the past decade, especially the wind energy companies, whose profitability has greatly improved from 2013 to 2020. Wind power generation also has outstanding operating capacity among new energy generations.

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新能源发电企业财务业绩更好吗?中国发电行业分析

摘要:化石燃料发电是中国碳排放的最大来源。风能和太阳能等新能源正在中国迅速发展，被认为是化石能源的替代品。本文主要对化石燃料发电企业和新能源发电企业的财务绩效进行比较。为此，我们结合2010年至2020年上市公司的财务数据，运用巨灾级数法对中国发电企业的财务绩效进行了评价。结果表明，尽管近十年来火电发电行业的盈利能力停滞不前，但其综合财务绩效仍优于新能源行业。近十年来，新能源企业的盈利能力显著提升，尤其是风能企业，2013年至2020年盈利能力大幅提升。风力发电在新一代能源中也具有突出的运行能力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy Sources Part B-Economics Planning and Policy ENERGY & FUELS-

CiteScore

6.80

自引率

12.80%

发文量

审稿时长

6-12 weeks

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