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China to promote energy price reform

Updated: May 1,2015 9:57 AM     Xinhua

BEIJING — China will promote price reforms of energy, especially electricity in 2015, the National Energy Administration (NEA) said on April 30.

The costs and prices of electricity transmission and distribution will be monitored, but the price determined by the market. A power transaction market will be established to better allocate resources. Clean energy will be advanced, according to NEA’s document on market supervision in 2015.

Monopolies in some sections of energy supplies will be reviewed in an effort to open the market to competition.

The NEA demanded more supervision of power suppliers, the quality of the electricity supplied, service levels, price and other charges.

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