China increases electricity prices for second straight month - 21 Aug, 2008
It is reported that China raised electricity prices for the second time in two months, an unexpectedly quick move that underscores the problems the nation is facing in keeping its booming economy supplied with energy.
The National Development and Reform Commission, which oversees electricity and other commodities with state-controlled prices, said wholesale prices will rise by an average of CNY 0.02 per kilowatt-hour, or roughly 5% from Wednesday. The commission didn't raise retail prices, keeping the higher costs from hitting consumers and business but pressuring grid operators in the middle.
The increase is on top of a 4.7% rise implemented last month.
