China Increases Electricity Prices to Counter Rising Coal Costsadmin
China, the world’s biggest energy user after the U.S., raised power prices for households and companies today to counter rising coal costs that are eroding earnings at the nation’s electricity generators.
Prices increased by an average of 0.025 yuan per kilowatt-hour, the National Development and Reform Commission, the nation’s top economic planner, said in a statement on its Web site today.
China sets power prices to shield households and manufacturers from increased energy costs and to control inflation. The government is gradually allowing power generators to charge more for electricity to help cover the higher cost of coal that has soared in China amid economic growth exceeding 10 percent.