Figure 1: The institutional and market structure

Figure depicts four boxes representing regulatory agencies: SERC, Others, NDRS, and MOF. These oversee three types of generators: State Power Grid Company/South China Power Grid Company, Independent Generators, and Five Generation Groups.

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Figure 2: Fuel structure of electricity generation (2002)

First portion of Figure 2 is a line graph depicting total increase in electric generation capacity by source from 2000 to 2020. Total capacity rises from about 300 to 1100 over that time, with the largest increases from coal, followed by nuclear generation. Contributions from other sources such as oil, natural gas, hydro, and other sources are negligible.

The second portion of Figure 2 is a pie chart showing generating capacity by fuel type in 2000. Coal generation accounts for 69%, hydro 25%, oil 5%, with nuclear, natural gas, and others accounting for the residual 1% of generating capacity.

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Figure 4: PJM East Cost Curve Pre-Merger

Graph depicts hypothetical cost curve, with capacity in Megawatts on horizontal axis, Cost ($/MWh) on vertical axis. Cost runs from zero to $250. Dots on the graph represent units from Excelon, PSEG, and Third Parties. General shape is upward sloping, with lowest priced capacity (baseload) less than $20, Coal units around $40, Combined cycle units in the $50-$60 range, efficient peekers around $75, and Superpeekers ranging in price at various higher levels. The graph notes that the data is for illustrative purposes only, and is not an actual representation of market conditions.

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