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New UserChina’s red-hot coal power sector is fast cooling with losses on the horizon, warns Greenpeace study
26 Apr 2016
China’s coal-fired power plants – many of them state-owned – may start losing money from next year because of overcapacity, ¬elec¬tricity pricing reforms and tighter environmental constraints, ¬according to a Greenpeace study.
The warning comes as the country’s top economic planner said on Monday that the government would curb power output from burning coal over the next three years to reduce excess ¬capacity and fight air pollution.
The National Development and Reform Commission also said it would set up a risk-assessment system to measure power production efficiency.
Yuan Jiahai, a professor at North China Electric Power University who led the Greenpeace study, said the past year’s investment boom in coal-fired power plants had been based on expectations of lucrative returns due to low coal prices and overpriced on-grid tariffs.
Source: scmp.com