China cuts power price for grids
Print Edition
CHINA’S top economic planner will cut the prices of coal-generated power for grid companies and enterprise users.
From today, the grid purchase price will be reduced by 0.02 yuan (0.30 US cents) per kilowatt-hour, the National Development and Reform Commission said.
Grid companies buy electricity from power generators and sell it to end users, profiting from the price gap. Due to the sluggish economy, coal prices are low, creating a good environment for power price cuts.
The NDRC said the price reduction will enable grid companies not only to cut prices for customers but to subsidize clean energy including solar and wind power.
Prices for industrial and commercial users, excluding enterprises assessed as operating inefficiently and overcapacity, will decline by 0.018 yuan per kWh today.
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