Home / Business / Business Highlights Tools: Save | Print | E-mail | Most Read | Comment
Power Giants Call for Electricity Price Rise
Adjust font size:

China's five leading power companies – China Datang Corporation, China Huaneng Group, China Hudian Corporation, China Power Investment Corporation (CPI) and China Guodian Corporation – have all handed in their application to the National Development and Reform Commission (NDRC) for raising electricity prices in areas where coal prices have soared recently.


This is the third such action made by the power industry to the government. Since the first two petitions, made on their behalf by the China Electricity Council (CEC), went unanswered, the companies decided to strike out alone.


In 2005, the Chinese government created a peg between coal and electricity prices, stipulating that the latter should rise or fall following average coal prices within a 5 percent bracket for a half-year period. In line with this, China altered its electricity prices in 2006 and 2007.


Zhou Fengqi, an expert with the NDRC's Energy Research Institute, explained that the government had not raised power prices for several reasons. First of all, all average prices have soared producing a 4.4 percent CPI hike. Secondly, a power shortage is not an issue this year, given the excess electricity output produced. Perhaps here lies the NDRC's reluctance to raise electricity prices.


For more details, please read the full story in Chinese. (http://finance.jinghua.cn/c/200707/25/n531901.shtml)


(China.org.cn July 25 2007)


Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
Related Stories

July 19 Shanghai Shanghai Finance Forum

Aug. 8-10 Beijing Company Summit Conference of China

Aug. 18-19 Beijing China Economic Development Forum

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback
Copyright © China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号