Zhejiang Province Raises Power Prices: SCMP

Zhejiang province is the latest Chinese regional government to raise electricity prices and change peak-demand hours, the South China Morning Post reported on Thursday.

The news came after Beijing’s announcement it would liberalise electricity pricing in response to a growing power crisis. Zhejiang followed in the footsteps of Guangdong province, the southern manufacturing hub, which last month raised prices for industrial users by as much as 25% during peak demand.

China’s top economic planning agency, the National Development and Reform Commission, said last week it would loosen the state-controlled power market, allowing industrial and commercial users to buy electricity at market prices.

Read the full story: South China Morning Post

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.