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China's five major power generators lost 18.09 billion yuan in the coal-fired power generating business in the first seven months this year, a loss of 11.3 billion yuan more compared with the same period last year, according to a report released by The China Electricity Council (CEC) recently, China Business News reported Monday.
The five power industry giants - China Huaneng Group, China Datang Corp, China Guodian Corp, China Huadian Corp and China Power Investment Corp – lost 7.46 billion yuan in their total power generating business in the January-July period, up 8.27 billion yuan year-on-year.
The year-on-year loss of the coal-fired power business has been caused by soaring coal prices, the CEC said citing data from National Bureau of Statistics.
Soaring coal prices and a shortage in coal reserves for the coming winter peak season for coal consumption has put regulators in a difficult situation, the report said.
Ouyang Changyu, Vice-General Manager of the CEC, suggested regulators raise the electricity prices to solve the crisis. He said CEC had proposed in 2010 for the on-grid and retail prices of electricity to be adjusted yearly.
A senior official of a plant in Hunan province said raising electricity prices would only ease the pressure caused by rising coal prices to some extent,. the capacity for coal to be transported is limited and the supply would still not meet the demands, the paper reported.
