Gas price rise to cut reliance on imports
Print Edition
NON-RESIDENTIAL gas price will rise 0.40 yuan (6.50 US cents) per cubic meter from September 1 to reduce China’s dependence on imported gas, the National Development and Reform Commission said yesterday.
Currently, the average price is 1.95 yuan per cubic meter.
The price hike follows last year’s increase that started on July 10, 2013.
The increase aims to dilute China’s dependence on imported gas and has worked well so far, according to the NDRC, the country’s top economic planner.
Last year, China imported 53 billion cubic meters of natural gas, 30 percent of the total consumption.
The increase will prompt companies to upgrade energy use.
Compared with fuel oil and liquefied petroleum gas, natural gas will still be competitive even after a price rise. Therefore the rise will not have a big impact on companies.
For industries that are heavily dependent on gas, such as public transport companies, government subsidies will be introduced.
Local governments will offer discounts in gas price for central heating and electricity companies.
The price rise will not apply to the chemical fertilizer sector because the market is in a difficult period, the NDRC said.
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