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Energy

Chinese provinces greenlight bigger power bills for factories

Higher production costs expected as electricity crunch continues

Most of China's listed thermal power companies have seen earnings deteriorate under higher coal prices.   © Reuters

BEIJING -- As power shortages plague China, provincial governments are beginning to approve rate hikes for electricity, mostly centering on supplies to factories, a move that is likely to raise production costs.

The southern province of Guangdong, the nation's economic powerhouse, approved peak-time rate hikes of up to 25% for electricity transmitted from state-owned power companies to factories and other businesses, starting Friday. The hike does not apply to ordinary households.

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