Hunan power market reduces electricity cost of RMB 2.2 billion in 3 years

Since October 2017, Hunan Province has reduced electricity costs by 2.2 billion yuan for enterprises in the province through electricity market transactions.

Since October 2017, Hunan Province has reduced electricity costs by 2.2 billion yuan for enterprises in the province through electricity market transactions.

According to reports, this was announced at the first shareholder meeting of the Hunan Electric Power in 2020.

Since the launch of the Hunan Electric Power in June 2016, Hunan Province has started trading in the electricity market.

At present, Hunan Province has achieved regular opening of electricity market transactions on a monthly basis.

The number of registered households in the electricity market has reached more than 70,000, which is more than 10 times larger than the initial number.

According to reports, from October 2017 to the present, the total contracted electricity in the province ’s electricity market has reached 130 billion kWh, reducing electricity costs by 2.2 billion yuan.

During the epidemic this year, Hunan Electric Power innovated the power market trading varieties, created special trades for clean energy and additional demand, and further cut the cost for trading electricity prices.

In April, the province ’s power generation side made a total of 129 million yuan for profit relinquishment, a year-on-year increase of 254%.

Driven by low-cost electricity, the electricity sales of large industries in Hunan increased by 5.2% year-on-year, accelerating the progress of enterprises to resume production.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/30/hunan-power-market-reduces-electricity-cost-of-rmb-2-2-billion-in-3-years/.

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