Coal prices hammer Chinese power giants
China Guodian Corporation and China Huadian Corporation have recorded losses in the first six months of this year.
It is estimated China Datang Corporation has lost about 2 billion yuan.
The China Power Investment Corporation is estimated to have have lost 1 billion yuan.
The coal-fired power plants, which supply 78 percent of the country's electricity, were let down by soaring coal prices, government control of electricity prices, and the rising financial costs resulting from expanding investment and the country's tight monetary policy.
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TORONTO - Hydro One Ltd. shares slid Thursday with some analysts sounding warnings of greater uncertainty after the new Ontario government announced the retirement of the electrical utility's chief executive and the replacement of its board of directors.
After sagging by almost eight per cent in early trading on the Toronto Stock Exchange, shares of the company were later down four per cent, or 81 cents, at $19.36 as of 11:42 a.m. ET.
On Wednesday, after stock markets had closed for the day, Ontario Premier Doug Ford announced the immediate retirement of Hydro One CEO Mayo Schmidt. He leaves with a $400,000…
