China will likely release a development plan for the energy industry during the 13th Five-Year Plan period (2016-2020) soon, according to Zheng Shanjie, deputy head of the National Energy Administration (NEA), quoted by the Securities Daily.
The NEA is about to complete compilation of the development plan for the energy industry in 2016-2020, said Zheng, which is expected to focus on the objective of building a clean, low-carbon, secure and efficient modern energy system .
Given the excess capacity in China's traditional energy industry and restrictions for development of the renewable energy sources, the development plan will meanwhile focus on tasks of the supply-side structural reform and come up with targeted measures.
It is reported that during the 2016-2020 period, China will keep its total energy consumption under 5 billion metric tons (tonnes) standard coal. To be specific, the domestic coal consumption in the period will basically hit the peak and be controlled within 4.1 billion tonnes, which will bring its proportion to the total energy consumption to less than 58 percent, while the country will increase proportion of the non-fossil energy consumption to more than 15 percent.
In coming five years, China will firstly adjust the inventory, optimize the increment and actively resolve excessive capacities in the energy industry. Under such circumstances, hydropower and nuclear power will become a bright spot with a large-scale development, said industry insiders.
The restart of China's nuclear power construction and the acceleration in nuclear power equipment localization, along with steady advancement in exports of nuclear power equipment under the Belt and Road Initiative, will drive up demands for the nuclear power equipment, according to the Industrial Securities.
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