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China May Spend $1.7 Trillion on Power Generation, 21st Reports

China, the world’s largest energy user, may spend 11.1 trillion yuan ($1.7 trillion) in the next 10 years building electricity infrastructure, the 21st Century Business Herald reported today, citing a research report by the China Electricity Council.

China may boost investment in power grids and electricity stations to 5.3 trillion yuan from 2011 to 2015, up 68 percent from spending in 2006 to 2010, the newspaper said, citing Wei Shaofeng, deputy director at the council. Investment may rise to 5.8 trillion yuan from 2016 to 2020, the report said.

Power generation capacity may rise 8.5 percent annually to 1.437 million megawatts by 2015 and to 1.885 million megawatts by 2020, according to the report. Power generation by non-fossil fuels will account for 33 percent of the total by 2015 and 36.3 percent by 2020, it said.

The government may need to raise electricity prices by an average 3.5 percent annually over the next 10 years to ensure power producers get an 8 percent annual return on net assets, the report said.

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