煤价延续同比回落,主导火电经营表现三大核心因素共同影响火电盈利的变化,煤价、电价和电量。首先从电价维度而言,从各省代理购电价格来看,二季度各地区电价普遍有所回落,蒙东、新疆、天津等北方地区表现相对强势。从煤价角度而言,受供强需弱影响,二季度秦港Q5500 大卡现货煤价中枢同比降低216.85元/吨,秦港Q5500 年度长协煤价均值同比下降25 元/吨。按电企长协及现货煤各占一半假设,二季度综合煤价...
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