China announces price hikes of electricity for non-resident use

China's National Development and Reform Commission (NDRC), the country's top economic planning agency, announced Thursday to raise the price of electricity for non-residential use by 2.8 cents (0.4 US cents) per kilowatt hour on average nationwide, as of Friday.

Residential electricity prices would not be raised this time. However, they would be charged on a progressive basis in the future, which means prices increase with consumption, according to the NDRC.

China's power consumption in October rose 15.87 percent year-on-year to 313.42 billion kilowatt-hours, up for the 5th consecutive month since June.

Source: BizChina