Businesses to pay less for power
Print Edition
Shanghai has cut electricity and gas prices to support businesses during the coronavirus epidemic.
The price cut will help 880,000 businesses save 2 billion yuan (US$290 million), according to Yu Linwei, chief economist of the Shanghai Development and Reform Commission.
Except for high-energy consumption businesses — such as the chemical, smelting and thermal power production companies — all Shanghai corporations will receive a 5-percent discount on rates through the end of June.
Yu emphasized every eligible business, including commercial complexes, industrial parks and office buildings, should pass along the price cut to customers.
During peak period for natural gas consumption from February 22 to April 1, businesses will receive a 10-percent price cut that will be reduced to 5 percent between April 1 and June 30.
In the city, 114 of 152 major construction projects are back to full capacity, according to Zhu Jianhao, deputy director of Shanghai’s Commission of Housing and Urban-Rural Development.
The projects require more than 71,000 workers; close to 45,000 have returned so far. Almost every project will be back to full capacity by the end of March.
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