China overhauls industry gas pricing
Updated: 2015-02-28 17:23
(Xinhua)
|
||||||||
Workers conduct a gas test at an energy station to ensure safe operation at an industrial park in East China's Jiangxi province in March, 2014. [Photo /Xinhua] |
BEIJING - China will set an equal, fair natural gas pricing structure for all industrial users to allow market forces to lead the energy sector, the top economic planner announced on Saturday.
The National Development and Reform Commission (NDRC) previously launched a market-oriented energy pricing mechanism on July 10, 2013, assigning a different pricing system for existing and new factories.
This meant that old users enjoyed relatively low prices compared with new comers.
To fulfil its promise to gradually level the price gap, the NDRC raised the wholesale gas price for old users on Sept 1, 2014, for the first time since the measure was put in place.
On Saturday, the NDRC announced that the wholesale price for old users would be increased for the second time, by 0.04 yuan (less than $1 cent) per cubic meter, and new users would pay 0.44 yuan less starting on April 1.
After the adjustment, the price for both groups will be the same, and rise and fall in a uniform way.
Since the international crude price dipped to a near five year low, many factories had turned to oil as an alternative energy.
The NDRC also plans to initiate a pilot plan, which will allow gas producers and major factory users to set the energy price.
Big factories, excluding fertilizer producers, may negotiate gas prices with the country's major energy companies starting April 1.
Currently, gas prices are controlled by the state and local economic planning bodies.
One of the world's largest energy users, China consumed over 180 billion cubic meters of natural gas last year.
- Milan Fashion Week - Autumn/Winter 2015-16
- Russian opposition leader Nemtsov shot dead in Moscow
- Across America over the week (from Feb 20 to 26)
- Phoenix landing
- Inside a Taobao village
- Testing mettle: Students appear for art college exam
- Top 10 best-selling SUVs in Chinese mainland in 2014
- The eighth nine days: wild geese are flying back
Most Viewed
Editor's Picks
Spring Festival trends reflect a changing China |
Patent applications lead the world |
BC lures Chinese tourists |
Festival Special: Apps that make holiday shopping easier |
Alibaba places China smartphone business bet with $590m Meizu deal |
China, US vow to deepen military relations |
Today's Top News
China ends UN council presidency
Tech firms cut from approval list
Yuan on move, but not to top
'Star Trek' legend Leonard Nimoy dies at 83
EB-5 could harbor fraud: report
US Representative requests Lunar New Year honors
Shanghai tops China's disposable income list
Hainan expands US non-stops
US Weekly
Geared to go |
The place to be |