2024 National Energy Work Conference held

context: The annual National Energy Work Conference reviews the year and announces priorities for the upcoming year. Last year's meeting was led by NEA (National Energy Administration) director. 2023 marks the first time since 2020 that the NDRC (National Development and Reform Commission) director (Zheng Shanjie 郑栅洁 was appointed in March) has joined the meeting.

The 2024 National Energy Work Conference was held in Beijing on 21 December, reports NEA (National Energy Administration. Zheng Shanjie 郑栅洁 NDRC (National Development and Reform Commission) director and Zhang Jianhua 章建华 NEA director gave speeches, both stressing Party and State Council instructions.

The NEA readout highlights that the national energy system is steadfastly embracing the overarching principle of advancing while ensuring stability and in 2023 this was exhibited through 

  • theme education focused on understanding and implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era
  • securing a stable energy supply: safeguarding of national energy security is the paramount duty
    • the role of coal as a reliable backup has been harnessed, and diverse measures to bolster oil and gas supplies have been implemented
  • accelerating green and low-carbon energy transformation: rigorous planning and policy support are being reinforced to sustain the robust growth of non-fossil energy sources, establishing a solid foundation for ongoing green development
  • strides made in the depth of energy reform and innovation
  • expanding high-level international energy cooperation
  • implementing the ‘two responsibilities’ for comprehensively and strictly governing the Party

Reporting on the current status, the readout highlights that

  • the total installed power generation capacity has reached 2.9 TW
  • from January-November 2023, renewable energy generated 3 tn KWh, providing for 1/3 of power consumption
  • wind power and solar PV (photovoltaic) power generation stood for 15 percent of consumption
  • 45 GW in the first batch of large energy bases has been connected to the grid, 50 GW more in the second and third batch is under construction
  • decentralised solar PV now covers more than 5 million rural households
  • raw coal inventory at power plants are sufficient to sustain operations for a period of 26 days

In 2024, the crux of the strategy lies in

  • accelerating the construction of the new development concept
  • harmonising development with security
  • advancing the energy revolution
  • expediting a new energy system and a new power systems
  • reinforcing energy production, supply, storage and marketing systems

The meeting set quantative targets, including

  • keeping oil production at 200 million tons
  • increasing natural gas production
  • approximately 200 GW of new wind and solar PV installed
  • four new nuclear power plants, adding 5GW to the total

The readout highlights this will be done through 

  • ensuring energy security, leveraging PRC's energy resource endowment
  • progressing on ‘dual carbon’ goals and tasks
  • more self-reliance in energy scitech
  • supporting the reform towards unified national markets, by
    • promoting market-oriented electricity transactions
    • advancing energy law construction
    • improving energy systems and mechanisms
  • improving the energy supervision system
  • the new concept of secure development and the ‘three system managements and three musts’
  • international energy cooperation, using the Belt and Road Initiative as a guide
  • construction of energy projects for people's livelihood, including 
    • clean heating in northern areas
    • clean and low-carbon transformation of rural energy
    • improving electric vehicle charging infrastructure
  • enhancing the Party's innovative theoretical foundation and other Party building measures