Guangdong to lower its electricity price
14 January 2008
The Guangdong province authorities plan to lower the region's electricity price for both industrial and residential users after a survey on the local grid corporation, Xinhua Net reported (in Chinese). According to the survey, the grid company's profit in 2007 was US$2 billion, with a capital return ratio of around 11%, which is 5-3% higher than the international average. Grid companies had complained about rising oil prices and lobbied the National Development and Reform Commission to increase electricity prices, although their balance sheets are unavailable to the public because they are state-owned monopolies.