Established in 1993, Qingdao Energy Power & Heat Co Ltd (青岛能源热电有限公司), owner of 17 subsidiary companies, is itself a subsidiary of Qingdao Energy Co Ltd.

The company is responsible for heat supply and power generation, and is now used by 622 companies and over 620,000 households. It has a heat production area of more than 76 million square meters.