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With the further implementation of China's "dual control of energy consumption" policy, the scope of power and production restriction in China has significantly expanded. The so-called "dual control of energy consumption" refers to the two controls on the total energy consumption and intensity of unit energy consumption. The specific indicators are to control the "total energy consumption" and the "energy consumption ratio of industrial added value".

据中国媒体报道，相关限制措施已影响到江苏、浙江和广东等10多个省份。此外，更多上市公司发布公告披露相关影响。除了钢铁、水泥、化工等高耗能行业外，甚至光伏和PCB行业也开始受到影响。

Chinese local governments are ordering power rationing to avoid failing to achieve the goal of dual control of energy consumption. Last month, after the economy rebounded strongly from the epidemic, China's development and Reform Commission pointed out that the energy consumption intensity of nine provinces increased rather than decreased in the first half of this year. The reduction rate of energy consumption intensity in 10 provinces did not meet the progress requirements, and the national energy-saving situation was very severe. According to the report and analysis of 21 economic net, for a single enterprise, it can be completed or planned in stages through technical transformation, but it is under great pressure for the whole regional economy, especially in places with strong investment attraction and rapid growth of industrial power consumption.

About 160 high energy consuming enterprises in the textile, printing and dyeing and chemical fiber industries in Zhejiang were ordered to stop production to meet the dual control goal of energy consumption. About 80% of the companies are located in Ma'an street. Ma'an Street issued a stop production notice on September 21, and the stop production will continue until September 30.

21经济网报道称，煤炭价格也创下历史新高，许多发电厂无利可图，导致一些省份出现电力供应缺口。如果这些差距扩大，其影响可能比中国部分地区夏季的限电更严重。

Shanghai Securities News reported that recently, power and production restriction measures have been intensively launched in many provinces, and "double high" enterprises have received production restriction notices in turn. Enterprises and related industrial chains have been affected. For example, in the upstream, the prices of raw materials such as steel, cement, aluminum and yellow phosphorus have increased due to the stimulation of production restriction, and the prices of some products have risen sharply recently, reaching a record high; In the downstream, in addition to raising production costs through price transmission, the supply cycle began to lengthen and the pressure on order delivery increased.

目前，电力和生产限制的范围不仅涵盖了早期钢铁、水泥和化工等高耗能行业，还开始涉及其他行业。报告指出，目前江苏、安徽、浙江等地部分光伏产业受到限电影响，许多胶膜、多晶硅生产企业被要求停工限产。受此影响，预计中国光伏发电年装机容量将比预期减少15%-20%。 

据悉，短期PCB上游报价将再次上涨。

The "dual control of energy consumption" policy has been strongly implemented in China, and the impact of power restriction has continued to expand. The scope has been extended to more than 10 provinces and regions such as Jiangsu, Zhejiang and Guangdong. The affected people have expanded from heavy industry to light industry and solar energy, and the PCB industry has also been affected.

一波PCB油墨企业发出联系函，由于原材料紧张、追赶、限电等原因，经营产品统一上涨10%-15%，暂时没有调整价格的企业是优先服务按时付款或现金付款的客户，逾期暂停发货，不排除10月价格！  

PCB油墨是印刷电路板的重要材料。据专家观察，自2021年初以来，rpcb（硬印刷电路板）的上游价格上涨了15%，铜箔的OEM成本上涨了30%，玻璃纤维布上涨了35%，环氧树脂（PP）上涨了25%，导致铜箔基板的成本上涨了17.35%，铜箔基板制造商的回应是价格上涨了18%。

在全球PCB制造业产值中，中国占53%，其中江苏省占23%。据测算，PCB行业受影响产能至少为12%；以2020年全球PCB产值700亿美元和一周停电时间计算，影响金额约为50亿元新台币。

目前，大多数工厂配合当地政策，将电力限制在9月底至10月。专家认为，自2021年以来，PCB硬板一直夹在上游原材料和EMS工厂之间，成本转移能力有限。这一限电事件有望使PCB制造端有能量涨价。