Chinese State Planner Checks Energy Supply, Reduces Coal Stock Requirements


Sept. 21 (Reuters) – China’s state planner, the National Development and Reform Commission (NDRC), said on Tuesday it had sent teams to regions, businesses and ports to ensure that measures d Energy supply and price stabilization had been implemented.

A statement from the NDRC did not specify where the monitoring teams, which it dispatched jointly with the National Energy Administration, had been sent. However, he said their job was to provide manly on-site supervision and included a focus on implementing policies to increase coal production and supply.

The main consumer of coal, China, has been pushing to boost coal production to meet growing demand as fuel prices hit record highs. It has also tried to curb the high prices of other key commodities, including freeing up state reserves.

In a separate statement, the planner lowered the minimum stock of coal that power producers are required to hold during peak demand season to seven days, and a maximum to 12 days of use.

He did not give a comparative figure.

“By adjusting coal stock requirements downwards for the peak season, it helps to free up supplies and stabilize prices,” the planner said.

Last week, the country’s major coal associations urged miners and power companies to sign additional medium and long-term contracts on top of existing deals and thermal coal should be given priority.

Reporting by Tom Daly, Eve Wu and Chen Aizhu Editing by Mark Potter and Louise Heavens

Our standards: Thomson Reuters Trust Principles.


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