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The power industry is one of the most important basic energy industries in the development of the national economy, and it is also a barometer reflecting the state of the national economy. The 2012 semi-annual report that has been disclosed shows that the listed companies in the A-share power industry achieved operating revenue of approximately 136.69 billion yuan in the second quarter of this year, up only 4.47% year-on-year, the lowest increase in the single quarter in the past five years, and the increase in electricity consumption in the whole society. The rate also fell to 4.3% in June this year, highlighting the economic situation is not optimistic, but better than the situation in 2008. Under normal circumstances, the growth rate of power industry revenue will be significantly higher than the growth rate of power consumption, and the growth rate of power generation enterprises in the second quarter of this year is very close to the growth rate of electricity consumption in the whole society in the same period, only slightly higher by 0.17 percentage points. . In the second quarter of this year, the national GDP growth was less than 8%. Previously, the single-season GDP growth of less than 8% in the country occurred in the fourth quarter of 2008, the first quarter of 2009, and the second quarter of 2009. In the three quarters, the growth rate of operating income of A-share power industry was 5.94%, 7.37% and 6.83%, respectively. In the same period, the growth rate of electricity consumption in the whole society was -7%, -4.02% and -0.6% respectively. It is worth noting that at the end of 2011, the National Development and Reform Commission had raised the on-grid price of power companies, and the industry's revenue growth rate did not increase sharply in the second quarter of this year, which is very close to the growth rate of electricity consumption in the whole society. The signs deserve attention. However, from the perspective of net profit, the power industry achieved net profit of about 7.63 billion yuan in the second quarter of this year, a year-on-year increase of 13.4%, and the growth rate significantly exceeded the growth of operating income. Statistics show that the current social consumption data still shows that there is no obvious signs of recovery in the macro economy. In April this year, the growth rate of electricity consumption in the whole society fell to 3.7%, the lowest monthly growth rate of electricity consumption since June 2009; the growth rate in May has rebounded, but it fell to 4.3% in June, compared with May. Falling back by 1 percentage point. The driving force behind the growth of the power industry's performance is mainly from hydropower, and the main reason for the outstanding performance of hydropower is the abundant water supply in the second quarter. The situation of thermal power is much more severe. In addition to Guodian Power and a few regional thermal power companies, most of the other thermal power companies' net profit in the second quarter showed a negative growth year-on-year.