国泰君安证券(香港)：能源运营行业：2023年1-2月电力数据点评：需求有望进一步改善；风电电量增速抢眼

Jan.-Feb.2023PowerData:AccordingtoChina'sNationalEnergyBureau(NEA),China'spowerconsumptioninFeb.2023grew11.0%yoyandthatinthefirsttwomonthsgrew2.3%yoy;generationfrompowerplantsabovedesignatedscaleincreased0.7%yoyduringthefirsttwomonthsoftheyear.Demandgrowthwaslikelydistortedbyahighbaseeffectandawarmerwinterthisyear,andweexpectittofurtherimprovegoingforward.Bysector,yoypowerconsumptiongrowthinJan.-Feb.2023was+6.2%/+2.9%/-0.2%/+2.7%fortheprimaryindustry/secondaryindustry/tertiaryindustry/residentia