State Council cuts prices for power from coal-fired plants

The State Council has announced it will cut wholesale charges for electricity from coal-fired plants by an average of RMB0.02 per kilowatt-hour, while retail prices for commercial and industrial users will decline by RMB0.018 per kilowatt-hour, Bloomberg reported, citing a statement from China’s cabinet. The aim is to lower operating costs for businesses and and promote economic growth, according to the statement. The move, which comes amid a slump in coal prices, contrasts with recent efforts to rein in coal consumption around major cities in Eastern China, though absolute nationwide coal consumption is set to grow for the foreseeable future.