November 19, 2009

Heating Up: Chinese Electric Rates Increase

Beijing's all-powerful National Reform and Development Commission has approved an increase in per kilowatt hour electric utility rates of 0.028 Yuan (approximately 4 cents US) or 5.7% for commercial customers. Residential rates will remain unchanged until January 2010 when they will increase on a new metric based on useage over average household rate - this will impact urban dwellers far more than rural users. China's big power transmitters - State Grid Corp., one of the largest companies in the world, and China Southern Power Grid Corp., have lost money all year due to the increased cost of coal. China like the USA relies principally on coal to generate base electricity demand....

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