China Cuts Commercial, Industrial Electricity Prices For 2nd Time Since April 1

Electricity Prices

China’s state planning agency said on Wednesday it cut electricity prices for commercial and industrial use by a total of 21.6 billion yuan (3.39 billion dollars) from May 1.

This is the second such cut within a month.

The National Development and Reform Commission lowered power prices for commercial and industrial consumers from April 1 by an average of 10 per cent.

This was a move to lower companies’ costs as Beijing aims to make the nation’s energy market more efficient.$1 = 6.3699 Chinese yuan renminbi.

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Author: Agency Report