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On August 3, the National Development and Reform Commission and the National Energy Administration issued the "15th Five-Year Plan for the Construction of a New Power System." The plan proposes to enhance power supply security to meet the high-reliability power supply needs of various computing facilities. It calls for coordinating energy resource allocation with computing facility construction, and synergistically planning and deploying computing and power projects to promote computing through electricity and vice versa. It also advocates developing new models such as integrated power generation, grid, load, and storage systems, and direct green electricity connections based on computing facilities, to achieve aggregated trading and local consumption of green electricity, thereby increasing the proportion of green electricity generated by computing facilities. Finally, it emphasizes strengthening the recovery and utilization of waste heat resources from computing facilities.On August 3, the National Development and Reform Commission and the National Energy Administration issued the "15th Five-Year Plan for the Construction of a New Power System." The plan proposes to improve the "1+N" basic rules system for the power market. It emphasizes strengthening the alignment and unification of local and national rules, improving the system for new entities to participate in the power market, continuously improving routine cross-grid trading, gradually reducing the scale of agency power purchases, improving the ancillary services market mechanism, exploring the construction of a capacity market mechanism, deepening the reform of the power pricing mechanism, promoting market-oriented reforms of on-grid tariffs for hydropower, nuclear power, and gas power, exploring the implementation of two-part or single-capacity transmission pricing for cross-provincial special projects, implementing pricing mechanisms to support the local consumption of new energy sources, improving the incentive and constraint mechanism for grid investment through transmission and distribution prices, studying relevant pricing mechanisms for offshore wind power transmission projects, optimizing the tiered pricing system for residential electricity, and promoting time-of-use pricing mechanisms for residential electricity.On August 3rd, the National Development and Reform Commission and the National Energy Administration issued the "15th Five-Year Plan for the Construction of a New Power System," which outlines the scientific determination of the layout and construction sequence of coastal nuclear power bases by 2030. The plan promotes large-scale nuclear power construction and actively advances the research, demonstration, and application of next-generation nuclear power technologies. It also emphasizes reducing the cost of small modular reactors (SMRs) through multiple measures and strengthening the comprehensive utilization of nuclear energy and innovation in business models. By 2030, the installed capacity of nuclear power will reach approximately 110 million kilowatts. Furthermore, the plan promotes the large-scale development of concentrated solar power (CSP), develops biomass and geothermal power generation according to local conditions, and advances the large-scale utilization of ocean energy. By 2030, the installed capacity of power generation from biomass, CSP, geothermal, and ocean energy will reach approximately 65 million kilowatts.On August 3, the National Development and Reform Commission and the National Energy Administration issued the "15th Five-Year Plan for the Construction of a New Power System." The plan aims to promote the construction and commissioning of hydropower projects in key river basins such as the upper reaches of the Jinsha River, the upper reaches of the Lancang River, the middle reaches of the Yalong River, and the Dadu River by 2030. It also aims to safely and orderly advance the construction of major projects such as the hydropower project in the lower reaches of the Yarlung Tsangpo River. The plan emphasizes strengthening the peak-load, regulation, and stability support capabilities of hydropower, and expanding the adjustable range and flexibility of power output. By 2030, the installed capacity of conventional hydropower will reach approximately 410 million kilowatts.Micron Technology (MU.O) fell 1.5% in pre-market trading.

Following The Upbeat Australian Employment Number, AUD / NZD Rises Above1.0750

Daniel Rogers

Mar 16, 2023 14:01

AUD:NZD.png 

 

The AUD / NZD exchange rate has increased by approximately 0.50% following the release of Australia's Employment Change data for the month of February. Employment Change came in at 64.6K, compared to 48.5K anticipated and -11.5K in the prior period. The unemployment rate has decreased from 3.7% to 3.5%. Full-time employment increased significantly from -43.3K to 74.9K.

 

After two negative readings in December and January, the positive employment data will likely encourage the Reserve Bank of Australia (RBA) to implement an additional 25 basis point (bps) rate hike at their next meeting, despite indicating a pause thereafter.

 

The Gross Domestic Product (GDP) data for the fourth quarter of 2022 in New Zealand were worse than expected, with the quarterly reading at -0.6% compared to -0.2% from the previous 2% and the annual reading at 2.2% compared to 3.3% from the previous 6.4%.

 

The economic contraction was caused by stagnant consumption, a decline in real national total disposable income, and a lack of investment in the industrial sectors. The economic impact of Cyclone Gabrielle is excluded from this figure, which represents the fourth quarter of 2022.

 

The Reserve Bank of New Zealand (RBNZ) may reconsider its hawkish stance at its April 5 meeting in light of this growth data. Despite the fact that many market analysts anticipate a 25 basis point rate hike from the RBNZ in April, the upside bias for AUD / NZD remains intact as economic data for both economies continues to diverge.


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