Huaneng Power’s Q1 2026 Electricity Sales and Tariffs Decline Amid Renewables Shift

Huaneng Power International ( (HK:0902) ) has provided an announcement.

Huaneng Power International reported that its power plants in mainland China sold 101.489 billion kWh of electricity in the first quarter of 2026, down 4.82% from a year earlier, while the average settlement tariff fell 5.63% to RMB460.73 per MWh. The company attributed the decline in electricity sold to lower utilization hours amid rapid nationwide growth in new energy capacity and a reduced share of coal‑fired units, even as its own wind and photovoltaic capacity continued to expand and regions such as Liaoning, Hebei and Gansu saw notable gains in wind and solar output.

Coal‑fired and combined‑cycle generation both recorded year‑on‑year drops in sales, partly offset by double‑digit increases in photovoltaic and hydro‑power sales and strong provincial growth in certain clean‑energy segments. The figures highlight that Huaneng’s ongoing low‑carbon transition is progressing but also underscore short‑term pressure on volumes and tariffs as China’s broader renewables build‑out intensifies competition and weighs on utilization rates across the sector.

The most recent analyst rating on (HK:0902) stock is a Sell with a HK$4.75 price target. To see the full list of analyst forecasts on Huaneng Power International stock, see the HK:0902 Stock Forecast page.

More about Huaneng Power International

Huaneng Power International, Inc. is a major Chinese power producer operating a diversified portfolio of generation assets across the mainland, including coal-fired, gas-fired combined cycle, wind, photovoltaic, hydro and biomass power plants. The company has been actively advancing a green and low‑carbon transition by expanding its wind and solar installed capacity while gradually reducing the share of coal‑fired units in its generation mix.

Average Trading Volume: 36,844,918

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$114.4B

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