Energy storage concept rallied, Shangneng Electric surged 20% to limit up, Shouhang New Energy and others surged significantly

Energy storage concept fluctuated upward during the trading session on the 20th. As of the latest report, China Energy Engineering Corporation (CEEC) hit the 20% daily limit, China National Nuclear Corporation (CNNC) surged over 18% to new highs, Huabao New Energy and Airo Energy rose over 12%, and JINLONG Technology increased over 10%.

It is reported that the U.S. peak electricity load forecast for 2030 has been significantly raised by 166GW to nearly 1000GW, with data centers contributing 54%. This has led to long-term increases in regional electricity prices, continuous new highs in capacity prices, and shortages of backup capacity across regional power grids. The situation reflects that under large-scale AIDC construction, the supply and demand of electricity in the U.S. continue to worsen, and the gradual retirement of thermal power and other sources further exacerbates power shortages. The U.S. faces persistent electricity shortages, and tight supply and demand will become the norm.

CITIC Construction Investment Securities believes that currently, the North American power system faces issues such as long grid connection cycles, aging and retiring power and grid equipment, and insufficient backup capacity. The explosive demand for AIDC will cause a power gap in North American grids to reach 39.9GW, 51.8GW, and 67.8GW in 2026–2028. Gas turbines, energy storage, and grid equipment are expected to become core beneficiaries, gradually becoming a reality. Currently, the market only recognizes the prosperity of gas turbines; in the next six months to a year, grid investment and energy storage construction will begin to increase steadily. North America’s profit scale far exceeds that of other regions globally, and the resilience of related industrial chains is highly promising.