大興熱電廠蒸汽價格三種定價方案

1、大興熱電廠三種蒸汽定價方案的比較Comparison of 3 Fixing Price Proposal of SteamFrom Da Xing Thermal Power Plant2010年12月20日，NNJ化工園區(qū)管委會、S (中國)投資有限公司、吉林分公司 及白山電廠三方代表在NNJ化工園管委會第七會議室就S公司在NNJ化工園大興片區(qū) 擬建醋酸、乙醇項目的蒸汽供應(yīng)問題進行了溝通和交流。其一期項目2011年三季度開 工建設(shè)，預(yù)計2013年四季度建成投產(chǎn)，蒸汽需求平均流量140-150 t/h,；二期項目 預(yù)計2015年建成投產(chǎn)，蒸汽需求平均流量140-150 t/h；兩期建成后蒸汽

2、需求為：一 般流量290 t/h，最大流量366 t/h。就會上提出的三種蒸汽定價方案，請吉林省電力 設(shè)計院相關(guān)專業(yè)人員進行了測算，比較分析如下：Dec.20th 2010, NNJ Chemical Industry Park Management Committee /Jilin branch of S(China)Investment Co . , Ltd / Baishan power plant , the representatives of the above three sides have a meeting of communicating and discussing a

3、bout the issue of supply of steam for proposed construction of ethylic acid and alcohol project . The first term project will start to be build on the third quarter of 2011 and finish so as to run on the fourth quarter of 2013 , the average requirement of steam will be 140-150 t/h ; the second term

4、of project will be finished and run on 2015 , the average requirement of steam will be 140-150 t/h; the total steam requirement of the two projects will be : normal flux 290 t/h , max flux 366 t/h . There are 3 fixing price proposals raising on the meeting, we ask the professor from Power Design Ins

5、titute of Jilin Province calculate according to the 3 proposals, compare and conclude as follows:一、擬建電廠基本情況 General Conditions of the Proposed Power Plant1、電廠規(guī)模:本期建設(shè)2 XCB20MW抽背式熱電機組+2 X 220t/h高壓煤粉 爐Scale of the power plant: the current project 2 X CB20MW back pressure extraction turbine unites +2X22

6、0t/h pressure pulverized coal furnace2、投資估算:靜態(tài)投資水平年為2009年，定額執(zhí)行電力工程建設(shè)概算定額(2006 年版)，項目劃分及取費標(biāo)準(zhǔn)執(zhí)行2007年版火力發(fā)電工程建設(shè)預(yù)算編制與計 算標(biāo)準(zhǔn)，基本預(yù)備費按7%計算。項目投資估算見表1。Investment estimate: Static investment target year is 2009 , quota execution(2006) ,segregation of items and standard for fees is executed according to the , tak

7、e 7% as the basic reserve fun . Investment estimate see “ Table 1”表 1 ：項目投資估算 Table 1 Investment Estimate項 目名稱 item description單位unit2XCB20MW+2X220t/h發(fā)電工程靜態(tài)投資power generating engineeringstatic investment萬元10 thousandyuan72859靜態(tài)投資單位造價unit cost of static investment元/kWYuan/kw18215建設(shè)期貸款利息loan interest

8、of construction萬元10 thousand2592peroidyuan發(fā)電工程動態(tài)投資power generating engeneering dynamic investment萬元10 thousandyuan75683動態(tài)投資單位造價unit costof dynamic investment元/kWyuan/kw18920.843、投資合理性分析 Rationality Analysis for Investment現(xiàn)階段小熱電供熱機組單位靜態(tài)投資為9000元/kW左右，本工程單位靜態(tài)投資 18215元/kW，看似很高，主要原因是正常情況220t/h的鍋爐，配50MW發(fā)電

9、機，而本 工程使用兩臺CB20背壓機，如果本工程配50MW發(fā)電機，單位投資靜態(tài)不到9000元/KW， 所以本工程投資處于合理的水平。On the current stage, the unit static investment of small thermal power unites is about 9000yuan/kW, the unit static investment of the project is 18215yuan/kW, it appears to be quite high, the main reason is that the regular situation

10、 is making use of the 50MW generator to match the 220t/h boiler, but two sets of CB20 back pressure units is made use in our project. If we make use of the 50MW generator, the unit investment will be less than 9000 元/KW，so that, the investment of the project is reasonable.二、三種方案的比較 the Comparison am

11、ong the 3 Proposals1、經(jīng)濟評價原始數(shù)據(jù)表（見表 2） Original Data Table of Economic Evaluation（see Table 2）說明：年利用小時按7000h/a，年平均供熱流量228t/h，年發(fā)電量17600萬KWh， 綜合廠用電率20%，年供熱量503萬GJ（相當(dāng)于1.6Mpa等級蒸汽162萬噸）。Note: taking 7000h/a as working hour per annum, average flux of supply of heating 228t/h per annum, electric energy produ

12、ction 176 million KWh perannum, comprehensive station service power consumption rate 20%,heating quantity 50.3 million GJ (equal to 1.6Mpa grade steam 16.2million ton).2、方案一：按熱電廠全成本加投資合理收益確定蒸汽價格。Proposal I:Fixing the Price of Steam Based on the Total Cost of the Thermal Power Plant and Investment Fa

13、ir Income電廠總成本包括固定成本和變動成本，固定成本一般包括折舊費(總投資額/折舊年 限)、攤銷費、修理費、工資及福利費和其它費用，變動成本一般包括燃料費、水費、 材料費、排放環(huán)保費等。The total cost of power plant include fixed cost and variable cost. Fixed cost generally contents depreciation cost(total investment /depreciation life), amortization cost, repair cost, salary ,welfarism

14、 etc. Variable cost generally contents fuel cost, water rate, material cost, exhausting cost, etc.該蒸汽定價公式可簡單表述為：the principle of fixing price here could be simply describe as follows:熱價二總投資x投資回報率+折舊費+財務(wù)費用+修理費+工資+其它費用+燃 料費+水費+材料費+排污費-電價X總發(fā)電量x(1-廠用電率)：總供熱量(公 式i)price of heating= (total investmentX rat

15、e of return on investments depreciation cost+financial cost+repair cost+salary+ Other expenses + fUel cost+ water cost +material cost+cost for disposing pollutants)- electrovalenceX gross generationX( 1- station service power consumption rate) ： total heating load ( formula i)本項目投資額暫按初可中的動態(tài)投資額75683萬

16、元，年發(fā)電利用小時為7000h,綜 合廠用電率20%，電價按509元/MWh，投資方內(nèi)部收益率暫按12%,反向推算出汽價為59.56元/GJ (含稅)，換算到1.6MPa等級蒸汽為184.6元/噸。(見表3)The calculation data content: the tentative dynamic investment of 756.83million, working hour per annum of 7000h,comprehensive station servicepower consumption rate of 20%, tentative electrovalenc

17、e of 509 yuan/MWhand tentative rate of investor internal income of 12% , by which the steam price could be calculated out as 59.56yuan/GJ(include tax) . The price is convered to融資前分析(項目投資現(xiàn)金流量分析)analysis before financing (analysis of cash flow of the investment in基準(zhǔn)收益率the project)benchmark yield內(nèi)部收益率

18、（%）凈現(xiàn)值（萬元）internal rate ofnet presentvalue(10income (%)thousand)所得稅前口 f - E +11.41Before income tax22156.111.6mpa grade steam price as 184.6yuan/ton(see Table 3)工程名稱： decription:大興熱電廠(投資方內(nèi)部收益率12%)Da Xing Thermal Power Plant(rate of investor internal income of 12%)機組總?cè)萘浚?MW) total capability of the u

19、nits(MW)40工程靜態(tài)投資72859.00萬元單位投資18214.75元/KWstatic investment10 thousandUnit investmentyuan/kw工程動態(tài)投資75683.34萬元單位投資18920.84元/KWdynamic investment10 thousandUnit investmentYuan/kw流動資金 circulating fund2282.33萬元10 thousand鋪底生產(chǎn)流動資金initial working capital684.70萬元10 thousand電價（不含稅） electrovalence435.00元/MWh

20、YUAN/MWh電價（含稅） electrovalence508.17元/MWh Yuan/MWh(exclude tax)(include tax)熱價(不含稅)heating price (exclude tax)52.71元/GJ yuan/GJ熱價(含稅) heating price (include tax)59.56元/GJYuan/GJ總投資收益率資本凈利潤率Rate of total8.13%net profit rate of21.21%investment incomecapital表 3 ：財務(wù)評價指標(biāo)一覽表 Table 3 : Financial Evaluation

21、Index List7.5 %投資回收期(年)period forrecovery ofinvestment(year)9.78所得稅后After income tax9.309669.8010.86融資后分析 analysis after financing項目資本金project capital投資方1Investor 1內(nèi)部收益率(%) internalrate ofreturn(%)17.9311.92表 2：原始 數(shù)據(jù)表(2XCB20MW+2X220t/h) Table 2:Original Data List(2XCB序號No.項 目item單位unit原始數(shù)據(jù)original d

22、ata備注remarks序號No.項 目item單u1裝機容量capacity of unitesMW2X2019所得稅率rate of income tax2設(shè)備年利用小時數(shù)working hours of equipmentsperannumh/a700020法定公積金legal accumulation fund3發(fā)電標(biāo)煤耗standardcoalconsumptionforgenerating electricitykg/kWh0.15321基準(zhǔn)收益率benchmark yield4供熱標(biāo)煤耗standardcoalconsumptionforheatingkg/GJ39.1822注冊

23、資本占總投資比例 proportion of registered capital to total investment5熱電比thermoelectrical ratio%99023流動資金周轉(zhuǎn)天數(shù)days of turnover of current capitalcurrent fund turnover daysd6發(fā)電廠用電率station service power consumption rate for generating electricity%4.1124水費water rate7Yi7供熱廠用電率 station service power consumption r

24、ate for heatingkWh/GJ5.7325平均材料費average material cost元/TYuai8建設(shè)期construction period年year226其他費用other expenses元/TYuai9投產(chǎn)期startup period年year127水量water amount萬thoit10機組服役期unite life年year2028修理提存率repair and deposit rate11人民幣貸款年利率annual loan interestrate of RMB%6.4名義利率nominal interest rate29排污費cost for

25、disposing pollutant萬thoit12貸款還款期repayment time年year1530增值稅VAT13流動資金貸款利率loan interest rate ofcirculating fund%5.81名義利率nominal interest rate31城鄉(xiāng)維護建設(shè)稅Urbanandruralmaintenanceandconstruction tax14修理費率repair cost%2.532教育稅附加surtaxfor educationexpenses15折舊年限depreciable life年year1533標(biāo)煤價(含稅)standard coal pri

26、ce (include tax)t/t/y16全廠定員人數(shù)fixed number of staff of the whole plantAperson12034石灰石limestone17人均工資salary per capita元/aYuan/a6000035脫硝劑denitrifying Nox agent18福利費率welfare expense%61.836供熱價(含稅)heating supply price(include tax)元Yu本方案中影響投資利益的因素，有三個方面需重點關(guān)注：There are 3 elements in this proposal to be pay

27、 more attention which will impact the investment profit:（1）內(nèi)部收益率值。在2010年12月20日NNJ化工園、S、HN三方會談中， 12%內(nèi)部收益率是化工園方面提出的一個參考值，尚未得到S及HN方面的確認(rèn)， 對此我方需進一步核算，確定我方談判方向。Internal income value :12% is a reference value raised by chemical industry park during the meeting of Dec. 20th 2010 among NNJ chemical industry

28、park, S,and HN . The reference value has not confirmed by both S and HN , for which we will further check ,so as to confirm our discussion direction.（2）公式i中投資額的數(shù)值。在表3中取用的投資額值是電廠全部投資， 塞拉尼斯能否接受該值是打問號的！預(yù)計塞拉尼斯會提出投資額值為電廠滿足其 用汽能力部分的投資（舉例說電廠全部供熱能力為400t/h，塞拉尼斯需要電廠 300 t/h保障供應(yīng)，則塞拉尼斯承擔(dān)總投資額的75%），該由塞拉尼斯承擔(dān)總投資 額的

29、比例是我方在談判中的主要關(guān)注之一；影響投資額的另一因素為塞拉尼斯對 于可靠性要求的高低，目前的投資額是電力設(shè)計院按照常規(guī)供熱電廠進行系統(tǒng)設(shè) 計配置，若塞拉尼斯對供熱可靠性有更高要求，則投資額會進一步增加，這也是 與塞拉尼斯談判時需說明的。The data of investment value of Formula 1 .The data used in Table 3 is the total investment of the power plant. It is still a question whether Celanese could approve the data. It is

30、 estimated that Celanese would accept the part of investment value which is used to meets their steam requirements （e.g. the total heating capability of the whole power plant is 400t/h, the requirements from Celanese is to fulfill 300 t/h , the Celanese would afford 75% of the total investment.)年供熱量

31、大小。本項目因是建設(shè)背壓機組，發(fā)電量大小完全取決于供 熱量的大小。供熱量一方面是影響供熱的收益，另一方面是影響發(fā)電收益，因此 供熱量大小對電廠的效益影響非常大。公式i中年供熱量作為分母，其數(shù)值大則 相應(yīng)熱價可降低。表3中，供熱量為162萬噸/a、上網(wǎng)電量14000萬KWh/a，而 按塞拉尼斯一期140t/h、年需求約98萬噸/a (年運行小時7000h/a)，二期投產(chǎn) 后約200萬噸/a，因此在商談塞拉尼斯年蒸汽需求量時，要求塞拉尼斯“照付不 議”的年蒸汽量為170萬噸/a，力爭簽訂200萬噸/a，則可保證投資收益在較好 水平。The heating capacity per annum. T

32、he generating capacity completely depends on the heating capacity due to the project is making use of the backpressure unites. The heating capacity impacts the heating income on one hand, and generating income on the other hand. So the heating capacity makes quite a big influence for the total benef

33、it. The data of heating capacity is as denominator in formula 1 ,so if the date is largen ,the relevant heating price will be lower. In the table 3 , the heating capacity is 1.63million ton/a, electric quantity on line is 140 million ton/a . However, according to Celaneses first term 140t/h and 980

34、thousand ton/a of annual requirement(annual working hours 7000h/a), after second term startup about 2million ton/a, so when the negotiation of the steam requirements of Celanese starts, we should require Celanese make the annual steam quantity to be 1.70million ton/a as “take or pay”， do all one can

35、 do to achieve 2million ton/a， which can make sure we could have a relevant good level of investment benefit.3、方案二：以2008年化工園區(qū)蒸汽價格為基準(zhǔn)按照一定公式調(diào)整proposal II：adjustment based on 2008 chemical industry parksteam price taking use of certain formula該蒸汽價格調(diào)整公式為： the adjusted formula of steam price :Px=PoX1+(A2

36、-A1)/A1XZ1+CB2-B1)/B1XZ2+(C2-C1)/C1XZ3+(S2-S1) /S1+ (N2-N1) /N1XZ4Px=PoX 1+ (A2-A1)/A1XZ1+(B2-B1) /B1XZ2+(C2-C1) /C1X Z3+(S2-S1) /S1+ (N2-N1) /N1XZ4其中Po-1.2Mpa蒸汽價格142元/噸(不含稅)，4.0Mpa蒸汽價格150元/ 噸(不含稅)；Px一每滿一季度期后之銷售價格；A1-平均煤炭市場采購價(按 到廠標(biāo)煤950元/噸)；A2每滿一季度期后平均煤炭市場采購到廠標(biāo)煤價；B1 2008年工業(yè)水價格(1.3元/噸)；B2-每滿一季度期后電廠工業(yè)

37、水價格；C1 2008年白山地區(qū)公布物價指數(shù)；C2-每滿一季度期后每滿一季度期后；S1 2008年電廠排放SO2的繳納費用；S2-每滿一季度期后電廠排放SO2的繳納費 用；N1-2008年電廠排放NOx的繳納費用；N2-每滿一季度期后電廠排放NOx 的繳納費用；Z170%； Z22%； Z314%； Z46%。Here, Po-1.2Mpa steam price 142 yuan/ton(exclude tax),4.0Mpa steam price 150 yuan /ton(exclude tax); Px the sale price after per squarer period

38、; A1average purchase price of coal from market (according to the price of standard coal to the site 950yuan/ton) ； A2 average purchase price of standard coal from market to site after per squarer period； B1price of industrial water of power plant of 2008(1.3yuan/ton)； B2price of industrial water of

39、power plant after per squarer period； C1the 2008 public price index of Baishan ； C2一after per square period after per square peroid； S1 the fees for disposing SO2 from power plant of 2008； S2- the fees for disposing SO2 from power plant after per squarer period； N1- the fees for disposing NOx from p

40、ower plant of 2008； N2- the fees for disposing NOx from power plant after per squarer period； Z170%； Z22%； Z314%； Z46%。按目前標(biāo)煤單價1000元/噸、CPI累計上漲10個點，其它條件不變，則按 公式算出蒸汽價格為1.2Mpa蒸汽不含稅價格149元/噸(含稅則為168.5元/噸)， 4.0Mpa蒸汽不含稅價格157.6元/噸(含稅則為178元/噸)。According to the unit price of standard coal 1000yuan/ton,CPI has

41、increased 10 points, if there s no other changing in relevant conditions, the calculated steam price will be :1.2Mpa steam price 149 yuan/ton(exclude tax ), 168.5yuan/ton(include tax) 4.0Mpa steam price 157.6yuan/ton(exclude tax) 178yuan/ton(include tax)將不含稅熱價150元/噸(48.4元/GJ)、電價435.64元/MWh代入模型計算， 得到

42、投資方1內(nèi)部收益率為6.26。(見表4)Input the 150yuan/ton ( 48.4yuan/GJ) and electrovalence 435.64yuan/MWh into the model and calculate ,then lead to a rate of internal income of investor 1 as 6.26(see Table 4)表 4 ：財務(wù)評價指標(biāo)一覽表 Table 4: Financial Evaluation Index List工程名稱：decription:大興熱電廠(熱價48.53元/GJDa Xing thermal po

43、wer plant (heating price 48.53yuan/GJ )機組總?cè)萘浚簎nites capacity（MW）40工程靜態(tài)投資static investment72859.00萬元10 thousandyuan單位投資Unit investment18214.75yuan/KW工程動態(tài)投資75683.34萬元10單位投資18920.84元/KWdynamicthousandUnit investmentYuan/KWinvestmentyuan流動資金circulating fund2282.33萬元10 thousandyuan鋪底生產(chǎn)流動資金 initial workin

44、g capital684.70萬元10 thousand yuan電價（不含稅）元/MWh Yuan/MWh電價（含稅）元/MWh Yuan/MWhelectrovalence(exclude tax)435.64electrovalence(include tax)508.91熱價（不含稅）元/GJYuan/GJ熱價（含稅）元/GJYuan/GJheating price(exclude tax)48.53heating price (include tax)54.83總投資收益率Rate of total investment income資本凈利潤率5.51%net profit rat

45、e of capital10.44%融資前分析(項目投資現(xiàn)金流量分析)analysis before financing (analysis of cash flow of the investment in the project)基準(zhǔn)收益率benchmark yield7.5基準(zhǔn)收益率benchmarkyield內(nèi)部收益率凈現(xiàn)值（萬元）投資回收期(%) internalnet present(年)periodrate ofvalue(10for recovery ofreturn(%)thousand)investment(year所得稅前Before income tax8.304324

46、.7411.72所得稅后After income tax6.78-3704.4412.71融資后分析 analysis after financing內(nèi)部收益率(%)internal rate of return(%)項目資本金9.15project capital投資方16.26Investor 1將熱價降低至142元/噸（45.8元/GJ），其它條件不變，得到投資方1內(nèi)部 收益率為0。（見表5）If lower the heating price down to 142yuan/ton （45.8 yuan/GJ）工程名稱：decription:大興熱電廠(熱價45.58元/GJ)Da X

47、ing thermal power plant (heating price 45.58yuan/GJ )(MW)機組總 容量：unitescapacity (MW40工程靜態(tài)投資72859.00萬元10 thousand單位投資18214.75元/KWstatic investmentUnit investmentYuan/kwyuan工程動態(tài)投資萬元10單位投資Unit investment元/KWYuan/kwdynamic investment75683.34thousandyuan18920.84流動資金circulating fund2282.33萬元10 thousand yua

48、n鋪底生產(chǎn)流動資金 initial working capital684.70萬元10 thousand yuan電價(不含稅) electrovalence(exclude tax)435.64元/MWh Yuan/MWh電價(含稅)electrovalence(include tax)508.91元/MWh Yuan/MWh熱價（不含稅）元/GJYuan/GJ熱價（含稅）元/GJYuan/GJheating price(exclude tax)45.58heating price (include tax)51.50總投資收益率Rate of total investment income

49、資本凈利潤率3.66%net profit rate of capital-1.75%融資前分析(項目投資現(xiàn)金流量分析)analysis before financing (analysis of cash flow of the investment in the project)基準(zhǔn)收益率benchmark yield7.5基準(zhǔn)收益率benchmark yield內(nèi)部收益率凈現(xiàn)值（萬元）投資回收期(%) internalnet present(年)period forrate ofvalue(10recovery ofreturn(%)thousand)investment(year)所得

50、稅前Before income tax5.90-8285.6813.83所得稅后After income tax4.83-13162.2714.60融資后分析analysis afterfinancing內(nèi)部收益率Table 5:Financial Evaluation Index List機組總?cè)萘?and keep other conditions unchanged, which will lead to the investor 1 srate of internal return is 0(see table 5)表5：財務(wù)評價指標(biāo)一覽表項目資本金project capital投資方

51、1Investor 1(%)internal rate ofreturn(%)2.890.004、方案三：按物價局核定的蒸汽價格Proposal III :based on the checked steam price from State Administration of Commodity Prices5、供應(yīng)熱用戶的蒸汽價格按物價局核定蒸汽電廠出廠價X 1.05，物價局 按秦皇島掛牌煤價實行煤汽價聯(lián)動，聯(lián)動關(guān)系為煤汽價比為1:0.133。The steam price for heating consumers is 1.05 X the factory price of the p

52、ower plant which is checked by State Administration of Commodity Prices, State Administration of Commodity Prices perform the steam price floats according to the coal price correspondingly, the rate between coal and steam is 1:0.133.現(xiàn)化工園鹿昌熱電廠出廠蒸汽價格為低壓蒸汽含稅170元/噸，與方案二中 根據(jù)化工園價格調(diào)整公式算出的當(dāng)前低壓蒸汽價格基本相當(dāng)，說明方案三

53、與方案 二基本接近。代入模型計算，得到投資方1內(nèi)部收益率為6.26。(見表4)The current steam factory price of Lu Chang thermal power plant from chemical industry park is 170yuan/ton,which is basically equivalent to the price based on the price adjusting formula of chemical industry park. That means proposal II and proposal III are mai

54、nly similar to each other. Input into the model and calculate , which leads to the rate of internal income is 6.26.(see Table 4)6、三種定價方案的比較匯總Comparison and conclusion among the 3 proposals of fixing the price三種蒸汽定價方案財務(wù)比較見表6,表6中“方案二”、“方案三”僅是分別 用熱價142元/噸和150元/噸計算內(nèi)部收益率，與前述定價方案中的“方案二”、 “方案三”非同一表述意義。Fina

55、nce comparison among the 3 proposals see Table 6, on table 6 ,there are “proposal 2” “proposal 3” which means calculating rate of internal income based on 142yuan/ton and 150yuan/ton respectively. The “proposal 2” doesnt mean the same object as “proposal II” and the “proposal 3” doesn t mean the same object as