Power price cut seen as GDP growth slips

China Daily (Canada) - - BUSINESS -

China may cut on-grid power tar­iffs for the sec­ond time this year to help in­dus­trial users hurt by a slow­down in the world’s sec­ond-big­gest econ­omy, ac­cord­ing to three peo­ple with knowl­edge of the plan. The av­er­age re­duc­tion of 0.03 yuan (0.47 cents) per kilo­watt hour may take ef­fect in some re­gions from as early as Nov 1, they said. The Na­tional De­vel­op­ment and Re­form Com­mis­sion, China’s eco­nomic plan­ner, has not for­mally an­nounced the cut and the pol­icy is sub­ject to change, ac­cord­ing to the peo­ple.

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