Power companies in Beijing petition to raise electricity prices as they suffer loss due to surging coal prices

 

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The Beijing Electric Power Industry Association has joined 11 coal-fired power companies in petitioning authorities to raise electricity rates to avoid bankruptcy amid surging coal prices.

Supply shortages have driven up coal prices in China and coal-fired power plants can only raise rates to accommodate increasing operational costs by as much as 10 per cent, with a large part of electricity prices fixed by the government. However, the National Development and Reform Commission, the country’s top economic planner, last year prohibited all rate rises.

The Beijing Electric Power Industry Association . . .

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