Revenue of 4.1 trillion! Investment of 650 billion! State Grid's major commitment!

Recently, the "State Grid Corporation of China 2024 Social Responsibility Report" was published online, disclosing State Grid's 2024 responsibility data and 2025 responsibility commitments.
 

In 2024, fixed asset investment of 632.6 billion yuan was completed, achieving operating revenue of 3.95 trillion yuan; Annual electricity sales of 6.24 trillion kWh, market-based electricity trading volume of 5.02 trillion kWh; grid-connected power generation capacity of 2.63 billion kW, including 1.14 billion kW of wind and solar new energy grid-connected capacity; a total of 38 ultra-high voltage projects ("22 AC and 16 DC") have been completed, with inter-regional and inter-provincial power transmission capacity of 340 million kW, and the construction of the world's highest-level technology, strongest resource allocation capacity, largest grid-connected capacity, and longest safe operation time AC/DC hybrid ultra-large power grid.

 

For 2025, State Grid has pledged annual grid investment exceeding 650 billion yuan, operating revenue of 4.1 trillion yuan, electricity sales of 6.6 trillion kWh, and market-based electricity of 5.3 trillion kWh.

 

 

2024 responsibility data is as follows:

01



Overall operating and development data

Fixed asset investment completed in 2024 632.6 billion yuan ，达成营业收入 3.95 trillion yuan ; annual electricity sales 6.24 trillion kWh , market-based electricity trading volume 5.02 trillion kWh ; grid-connected power generation capacity 2.63 billion kW , including wind and solar new energy grid-connected capacity 1.14 billion kW ; cumulative completion of ultra-high voltage projects "22 AC and 16 DC" 38 items , inter-regional and inter-provincial power transmission capacity 340 million kW , construction of the world's highest-level technology, strongest resource allocation capacity, largest grid-connected capacity, and longest safe operation time AC/DC hybrid ultra-large power grid 。

02



Power supply capacity

Key projects put into operation to ensure power supply 404 items , distribution network anti-icing transformation and upgrading projects 6161 items , intercepting network attacks 505 million times , successfully coping with long-term extreme high temperatures, maximum load increase nearly 100 million kW and other severe challenges, solving the vulnerability of the distribution network to disasters and eliminating shortcomings in the network structure such as weak county-level connections.

03



Building a new power system

Serving the "dual carbon" goals, actively promoting energy efficiency public services, helping users save energy and reduce carbon emissions, serving public institutions 34,000 households , industrial enterprises 13,000 ; deepening the application of new power load management systems, the maximum monitored load scale 830 million kW ; pilot construction of vehicle-to-grid (V2G) charging piles in 20 provinces and cities 1535 ; supporting and serving the development of virtual power plants, promoting the cumulative completion of projects 169 , aggregating adjustable resource capacity 15.53 million kW ; accelerating the company's own green electricity consumption, promoting green construction and maintenance of the power grid, strengthening green supply chain construction, the company's energy consumption and carbon emission intensity decreased by 16.4% 、 15.3% 。

Strengthening the construction of key grid projects, Implementing the guiding opinions on fully promoting the high-quality construction of ultra-high voltage: "One AC and two DC" have been approved, "Three AC and nine DC" completed the company's preliminary tasks, "5+5" DC projects have all started pre-feasibility studies; started Shaanxi-Anhui, Gansu-Zhejiang and other projects, overcoming Ganzhou "6+4" simultaneous shutdown, high-altitude areas in Tibet and other difficulties and challenges, high-quality production Sichuan-Chongqing, Zhangbei-Shengli ultra-high voltage and Lhasa, Balin-Naiman-Fuxin 500 kV substation and a number of other key projects, completed Central China ultra-high voltage AC "daily" ring network ; established a joint venture company with the Southern Power Grid Company and signed a memorandum of cooperation with the Inner Mongolia Autonomous Region to accelerate Tibet-Guangdong DC, "Shagohuang" new energy base ultra-high voltage transmission project construction.

Strengthening the construction of distribution networks, Completed power grid investment 256.4 billion yuan Completed rural power grid consolidation and upgrading projects 122,000 Focusing on resolving issues such as weak county-level power grids, multi-level cascading supply, and single-line stations.

Improve the digital and intelligent level of the power grid, Implement the national "Artificial Intelligence +" action, and release Bright Power Large Model ; Built Dynamic Power Grid One Map The accuracy of the whole network data has been improved to 99% Effectively promoted accurate fault judgment and repair; Conducted a full review of the unified construction projects, and the functional requirements Reduced by one-third ; Built National and provincial carbon emission monitoring and analysis service platform 。

Promote the high-quality development of new energy, The cumulative grid-connected capacity of three batches of large-scale base projects in the operating area 106 million kilowatts ; Accelerate the flexible transformation of low-voltage distributed photovoltaic power generation, realizing flexible power adjustment 2.38 million households ; The newly added wind and solar new energy installed capacity for the whole year 270 million kilowatts , year-on-year growth 16.5% ; The proportion of wind and solar new energy power generation 19.3% , utilization rate 96.1% ; Started construction of pumped storage power stations 5 , completed and put into operation pumped storage units 23 , the cumulative installed capacity in operation has reached 40.56 million kilowatts ; The new energy storage in the operating area has reached 58.76 million kilowatts 。

04



Serving the Rural Revitalization Strategy

Rural power grid consolidation and upgrading project investment 160 billion yuan , rural power grid voltage qualification rate 99.831% , rural power grid power supply reliability rate 99.915% ; Donated and assisted projects with an estimated annual output value of 47.65 million yuan , driving local employment for more than 2,100 people ; Input of free assistance funds 110 million yuan 。

05



Deepening Reform and Innovation

Serving the construction of a unified national power market. State Grid Corporation integrated into the construction of a unified national power market, for the first time in China's power history, realizing Inter-provincial and intra-provincial spot transactions running continuously and coordinately, Comprehensively using medium and long-term, spot, and ancillary service trading varieties, innovating trading forms, improving trading mechanisms, promoting green electricity and green certificate trading, and laying a solid foundation for the in-depth advancement of power market-oriented reforms. 22 provincial-level power spot markets have started trial operation, Gradually achieving full coverage of the spot market.

Deepen scientific research system reform. Restructuring and integration China Electric Power Research Institute and State Grid Zhiyan Institute , set up State Grid Engineering Research Institute, Southwest Electric Power Research Institute , comprehensively strengthen Provincial Electric Power Research Institutes Scientific research capacity building.

Strengthen basic research and key core technology breakthroughs. Total R&D investment for the year 39.87 billion yuan , year-on-year growth 2.7% 。

Implement the "Artificial Intelligence +" special action, Built and released the power industry's hundreds of billions of multi-modal large model— Bright Large Model.

06



Strengthen industrial leadership

Build a green and digital supply chain, internally deepen the construction of the State Grid Green Chain, build a trillion-level procurement and supply chain management platform, saving procurement funds 77.783 billion yuan ; Externally construct 4 dimensions, 22 aspects National Grid Modern Logistics Performance Index System, leading the upgrading of the service level of the power logistics ecosystem.

07



Continuously enhance high-quality supply

Comprehensive power supply reliability rate reached 99.924% , improved 0.0129 percentage points ; Voltage qualification rate reached 99.870% , improved 0.009 percentage points ; Average user outage time decreased year-on-year by 14.2% Year-on-year decrease in the number of customer complaints 21.07% 。

08



Serving the people's livelihood

Providing job opportunities to the public in 2024 More than 40,000 Making due contributions to the overall stability of employment.

09



2025 Annual Commitment

Commitment to exceeding power grid investment in 2025 650 billion yuan 。

Excerpt from: "State Grid Corporation of China 2024 Social Responsibility Report"

Source: North Star Power Network, etc.