Gas pricing mechanism set to undergo reform
Source: Bloomberg News |
June 10, 2011, Friday
|
Print Edition
Print Edition
CHINA will establish a natural-gas pricing mechanism that reflects availability of resources and market supply and demand this year, according to the nation's top economic planner.
The government will price gas with reference to other energy costs, the National Development and Reform Commission said in a statement on its website yesterday.
Gas importers typically buy at international rates that are higher than the fixed domestic prices they can charge customers. China has vowed to reform its energy pricing to improve efficiency of fuel usage.
"It's likely the country will increase natural-gas prices again this year if inflation is contained," Wang Aochao, head of China research at UOB-Kay Hian Ltd, said in Shanghai yesterday.
The world's second-biggest energy user raised gas prices by 25 percent in June 2010.
The government will price gas with reference to other energy costs, the National Development and Reform Commission said in a statement on its website yesterday.
Gas importers typically buy at international rates that are higher than the fixed domestic prices they can charge customers. China has vowed to reform its energy pricing to improve efficiency of fuel usage.
"It's likely the country will increase natural-gas prices again this year if inflation is contained," Wang Aochao, head of China research at UOB-Kay Hian Ltd, said in Shanghai yesterday.
The world's second-biggest energy user raised gas prices by 25 percent in June 2010.
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