News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexCryptocurrenciesCybersecurityPress Releases

China to encourage power users to directly buy renewables in cross-province spot trading

11/16/2021 | 04:53am EDT
FILE PHOTO: People drive past a coal-fired power plant in Shanghai

BEIJING (Reuters) - China will encourage power consumers to trade directly with renewable power generators in cross-province spot electricity trading, and will gradually add bulk power users and power sellers into the trade.

The announcement is part of a reply on Tuesday from the National Development and Reform Commission (NDRC) to the State Grid Corp which proposed a draft trading rule on cross-region spot power trading.

The NDRC did not disclose the details of the proposed trading rule.

China, the world's biggest greenhouse gases emitter, has been striving to boost renewable power consumption as it has vowed to bring its carbon emissions to a peak by 2030. Currently, more than 60% of electricity comes from coal-fired power plants.

As renewable power sources are mainly in the far-west part of the country, thousands of kilometres away from the major power consumers, the government is keen to encourage cross-region power trade.

In 2020, cross-province power trading reached 558.75 billion kilowatt-hours, about 17.6% of China's total power trading, according to data from China Electricity Council.

(Reporting by Muyu Xu and Shivani Singh; Editing by Kirsten Donovan)


© Reuters 2021
Latest news "Economy & Forex"
09:46aWestern-backed Asian power line project stalled over Afghanistan turmoil
RE
09:44aBlinken reaffirms U.S. commitment to defend South Korea and Japan -State Dept
RE
09:44aChina’s xi considers visiting central asia, potential meeting wi…
RE
09:43aFrance favours gas terminals over new pipeline to tackle crisis
RE
09:42aEu set to back fractional dosing for monkeypox vaccine - ft…
RE
09:41aGermany's Rhine water too low even for some empty vessels
RE
09:40aBrent oil futures turn positive in volatile trade after falling…
RE
09:36aUN chief says electricity at Russian-held nuclear plant belongs to Ukraine
RE
09:36aTech-heavy Nasdaq leads Wall St lower at open
RE
09:35aTSX opens lower as energy, material stocks fall
RE
Latest news "Economy & Forex"