Coal prices hammer Chinese power giants

subscribe

China's four power giants may have lost up to (US) $1.02 billion in the first half of this year due to soaring coal prices.

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.

Related News

renewable power fuel cell

New fuel cell could help fix the renewable energy storage problem

LONDON - If we want a shot at transitioning to renewable energy, we’ll need one crucial thing: technologies that can convert electricity from wind and sun into a chemical fuel for storage and vice versa. Commercial devices that do this exist, but most are costly and perform only half of the equation. Now, researchers have created lab-scale gadgets that do both jobs. If larger versions work as well, they would help make it possible—or at least more affordable—to run the world on renewables.

The market for such technologies has grown along with renewables: In 2007, solar and wind provided just 0.8%…

READ MORE
powerlines

EDF and France reach deal on electricity prices-source

READ MORE

fuel cell

New fuel cell concept brings biological design to better electricity generation

READ MORE

Australia's energy transition stalled by stubbornly high demand

READ MORE

The Phillipines wants nuclear power to be included in the country's energy mix as the demand for electricity is expected to rise.

READ MORE