HUANENG POWER (00902) announced that for the first quarter of 2026, its power plants in China recorded on-grid electricity sales of 101.489 billion kilowatt-hours on a consolidated basis, representing a decrease of 4.82% compared to the same period last year. During the same quarter, the average on-grid settlement price for the company's power plants in China was RMB 460.73 per megawatt-hour, down 5.63% year-on-year.

The decline in electricity sales was primarily attributed to the company's ongoing efforts to advance its green and low-carbon transition, which has led to continuous growth in wind and solar power installed capacity. However, due to the increase in national new energy installed capacity, the company's power generation utilization hours decreased compared to the previous year. This, combined with a reduced share of coal-fired power capacity, resulted in an overall year-on-year decline in on-grid electricity sales.

In the first quarter of 2026, the market share of electricity generation for Tuas Power Limited, a wholly-owned subsidiary of the company in Singapore, was 18.3%, a decrease of 0.4 percentage points from the prior year.