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Coal prices cut into energy industry

(Global Times)

08:16, May 15, 2012

Power companies operating in Hubei, Hunan, Henan, Jiangxi, Sichuan and Chongqing suffered a net loss of 8.3 billion yuan ($1.3 billion) in 2011, up from a deficit of 6.4 billion yuan a year earlier, according to the State Electricity Regulatory Commission (SERC).

The profitability of the energy industry has been driven down by huge losses from coal-fired power producers as prices for coal continue to surge, the SERC explained. Coal-fired power stations in the regions mentioned above experienced a net loss of 13.6 billion yuan in 2011, up 5.1 billion yuan compared with 2010. Meanwhile, hydro power stations in these regions saw a net profit of 15.5 billion yuan in 2011.


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