China's Power Prices Nosedive in Relief to Tariff-Hit Factories
A crash in Chinese coal prices, and a flood of clean energy, are cutting power rates in major industrial hubs, easing pressure on some of the factories caught in the crossfire of trade hostilities with the US.
In Jiangsu province, the average price for June contracts settled by centralized bidding plunged 24% year-on-year to 313 yuan ($44) per megawatt-hour, the lowest level regulators allow. In Guangdong, the rate dropped 8.3% to the government's floor of 373 yuan per MWh. The two coastal powerhouses are heavily dependent on exports, with a combined economy bigger than that of France.
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