銀河證(zheng)券發布(bu)2024年電(dian)(dian)(dian)(dian)(dian)力行業(ye)投資(zi)策略稱(cheng)，電(dian)(dian)(dian)(dian)(dian)改持(chi)續深(shen)化(hua)，電(dian)(dian)(dian)(dian)(dian)力行業(ye)迎估值、成長(chang)機遇。市場擔憂(you)容量(liang)電(dian)(dian)(dian)(dian)(dian)價出(chu)臺(tai)將影響電(dian)(dian)(dian)(dian)(dian)量(liang)電(dian)(dian)(dian)(dian)(dian)價，銀河證(zheng)券認為(wei)市場煤價遠高(gao)于合理區間上限，且十(shi)四五以來(lai)火(huo)電(dian)(dian)(dian)(dian)(dian)企業(ye)累計(ji)虧損(sun)較(jiao)多，目前仍有彌補虧損(sun)需求(qiu)，因此明年電(dian)(dian)(dian)(dian)(dian)價下(xia)調或(huo)將低于預(yu)期(qi)。長(chang)期(qi)來(lai)看，隨(sui)著電(dian)(dian)(dian)(dian)(dian)改推進，火(huo)電(dian)(dian)(dian)(dian)(dian)盈(ying)利穩定(ding)性(xing)將持(chi)續提升，核電(dian)(dian)(dian)(dian)(dian)作為(wei)清(qing)潔的(de)基(ji)荷能(neng)源，兼具穩定(ding)性(xing)和成長(chang)性(xing)；目前火(huo)電(dian)(dian)(dian)(dian)(dian)、核電(dian)(dian)(dian)(dian)(dian)PB（市凈率）分(fen)別為(wei)1.00x、1.43x，有望向水(shui)電(dian)(dian)(dian)(dian)(dian)2.31x靠(kao)攏，估值修復空間大；而新(xin)型(xing)電(dian)(dian)(dian)(dian)(dian)力系統建設的(de)日趨(qu)完善，強大的(de)系統調節能(neng)力，也(ye)將打開(kai)新(xin)能(neng)源裝(zhuang)機的(de)長(chang)期(qi)增長(chang)空間。（證(zheng)券時報·e公司）