The utilities ETF Penghua rose nearly 1%, driven by AI improving the power supply and demand pattern, with the growth rate of thermal power generation rebounding

Penghua CSI All Share Utilities ETF rose nearly 1%, benefiting from the recovery in thermal power generation growth and the increase in hydropower output. GF Securities pointed out that the growth of wind and solar installations is constrained by grid connection issues, with the wind and solar consumption rate in the Three North regions approaching 90%. The decline in thermal power approvals, combined with the release of AI load, has improved the power supply and demand pattern. In April, the spot electricity price in Guangdong surged significantly, showing a clear trend of stabilization and recovery. The CSI All Share Utilities Index rose 0.76%, with active performance from constituent stocks