【SeaChuan’s Best Practices】Sino-Korean petrochemical companies innovate in electricity trading models, significantly reducing electricity costs and achieving new breakthroughs in cost reduction and efficiency improvement

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Since the beginning of this year, Sino-Korea Petrochemical has achieved significant savings on electricity costs in the first half of the year by innovating its electricity trading models, thus making new progress in reducing costs and improving efficiency. Sino-Korean Petrochemicals regards electricity cost control as a key factor in enhancing competitiveness. As the electricity trading market in Hubei Province becomes increasingly mature, Sino-Korea Petrochemical has formed a specialized team to conduct in-depth research on market rules and patterns of electricity price fluctuations. By adopting a strategy of \"using medium- to long-term contracts to ensure stability + leveraging spot trading to seize opportunities,\" the company not only ensures a reliable supply of electricity for its production processes but also reduces its overall electricity costs by taking advantage of differences in time-based electricity prices. During the implementation process, Sino-Korean Petrochemical increased its level of coordination; multiple departments joined forces to form specialized task forces. A real-time communication mechanism was established with the professional electricity sales companies under Sinopec Group, enabling precise analysis of production load curves and dynamic alignment with electricity market data, thus achieving optimal allocation of electrical resources.