China’s National Development and Reform Commission (NDRC) – the country’s policy-making body – announced on October 12 that it will completely liberalize the price of electricity generated from coal and users of the country. industrial and commercial sectors will have to buy at market prices.

The NDRC has not given a specific time frame, but said that 100% of electricity generated from thermal power plants will be priced through market transactions, up from the current 70% average in the country.
Users in the industrial and commercial sectors will have to buy directly from the market or through dealers over the grid “as soon as possible”. The percentage of people who buy electricity directly from the market in China is currently 44%. Other electricity users are currently paying a flat rate for electricity.
The reforms are Beijing’s latest attempt to deal with an energy crisis that is affecting the world’s second-largest economy, which is expected to last until the end of the year. Analysts and traders forecast electricity consumption in the industrial sector in China to fall 12% in the fourth quarter as coal supplies are expected to fall this winter.

China’s State Council on Friday (October 8) said it would allow thermal power prices to fluctuate within a range of up to 20% of the baseline, a sharp increase from the previous range, to prevent increased energy consumption.

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