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(Bloomberg) -- The failure of a $27 billion project last week may offer a lesson to natural gas exporters: Go small or go home.
NEW YORK (Bloomberg) -- The failure of a $27-billion project last week may offer a lesson to natural gas exporters: Go small or go home.
Shares of Chinese coal-fired power generators surged as much as 6 to 8 per cent on expectations of a wholesale power price increase next month, which is likely to bolster profits that have been dented by surging coal costs in the past two years.
Beijing’s plan to launch the long-awaited “green certificate” trading scheme is part of an effort to ease the snowballing deficit of the state-run renewable energy subsidy fund, and shift part of the financial burden for reducing pollution from consumers to coal-fired power producers.
Shares of mainland Chinese coal-fired power producers listed in Hong Kong ended flat or fell slightly on Thursday after Beijing decided not to lift the prices they charge for their electricity despite higher coal prices.
Companies in Shandong have been ordered to either cut output or shut down— Reuters picBEIJING, Dec 20 — A major city in China’s Shandong province has ordered seven big coal-fired power plants to cut output by nearly two-thirds as part of a clampdown on pollution as smog blanketed northern parts of the country.
Highly debt leveraged Chinese companies in the utilities and airlines industries are among the most exposed to the risk of higher borrowing costs if the recent rise in interbank rates becomes a sustained trend, according to analysts.
Weak power demand and rapid growth in new generation capacity to hurt profits of key players
The mainland’s power producers are facing a grimmer profit outlook in the next few years, due to tepid power demand growth and sharp falls in plant utilisation amid fast-growing generating capacity and industry reform aimed at raising price competition.