China’s sets plans to curb power crisis

China’s power crisis has already impacted the domestic economy and raised concerns about winter’s cold weather which has started early in some provinces

Thermal coal futures have surged but senior officials keep promising to increase coal production and push energy prices lower.

Beijing has stepped up its control over the nation’s power market amid the crisis, pledging to intervene in the coal market, investigate pricing mechanisms and crack down on the speculative fuel trade as China addresses the problem that is threatening energy security and consequently economic growth.

Beijing’s endeavors to recalibrate the power market has signaled focus on strengthening economy first via fine-tuning existing economic structures, with no mention of carbon emissions.

China’s economic planner, the National Development and Reform Commission (NDRC), previously warned governments of domestic provinces about meeting carbon emissions targets this year, which triggered some regional authorities to cut electricity supplies.