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China Lifts Electricity Price, Caps Coal Cost Amid Power Squeeze

China, the world’s biggest energy user, increased electricity prices for the first time in six months and said it will cap the cost of power-station coal in an attempt to reduce outages in coming months.

Wholesale rates charged by coal-fired power plants to distributors, or the on-grid tariff, rose by 0.026 yuan (0.41 cent) a kilowatt-hour, and retail power prices increased by an average 0.03 yuan a kilowatt-hour, effective today, according to a statement on the National Development and Reform Commission website yesterday. Price gains for contract thermal coal next year will be limited to less than 5 percent, it said.