Zhou Fengqi, senior adviser at the Energy Research Institute of China's National Development and Reform Commission (NDRC), said that the Chinese government is about to cancel the control of the coal price, but will continue to monitor the price of coal, in order to avoid price fluctuations.
Xinhua Overseas Finance yesterday quoted Zhou as saying the government has been ready for the launch of the reform measures. According to the reform plan, the coal producers and power generation companies will sign a contract of at least 5 years, and annually negotiated price. The government is no longer on coal pricing, but will continue to monitor the market.
Up to now, the government, through the annual meeting with the coal suppliers to standardize the price of steam coal, but such a meeting has been canceled. Zhou Fengqi, said the government has asked coal producers and power generation companies to agree on a price, the government will no longer be involved.
More than 2/3 of China's energy demand from thermal coal, so the slow progress of the government in the coal price mechanism reform. But with global coal prices close to $ 90 per ton, nearly three-year lows, the recent average price of domestic coal by 800 yuan per tonne to 600 yuan, the Chinese government began to promote the market-oriented reforms of the coal price.
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