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China hikes non-residential electricity price nationwide

(Xinhua)

17:59, November 30, 2011

BEIJING, Nov. 30 (Xinhua) -- China will raise the electricity price for non-residential use by an average of 0.03 yuan (0.47 U.S. cents) per kilowatt hour nationwide starting Thursday, the National Development and Reform Commission (NDRC) announced Wednesday.

Residential electricity prices will not be raised at this time, but there will be public hearings to decide the details of adjusting residential electricity prices in the future, said the NDRC.

China will adopt a gradual power tariff mechanism for residential use,which means prices will increase with consumption, it said, adding that 80 percent of China's households would not be affected by the price hike.

The NDRC also said that it will allow the contract price of major thermal coal to float by no more than 5 percent next year.

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