China announces new policy to encourage hydroelectric power development

China Flag

China's National Development and Reform Commission has announced a reform that will increase the price grid operators pay to hydroelectric power plants in an effort to spur industry investments.

Previously, NDRC said, hydropower costs were controlled by local governments at prices generally lower than the wholesale price of other forms of generation.

Now, NDRC -- China's federal economic and social planning authority -- will dictate prices of hydroelectric power based on the average wholesale price grid operators pay for other forms of power.

The commission said the policy change is due in large part to the country's effort to meet its national renewable portfolio standard, which says non-fossil energy should make up 11.4% of China's overall mix by 2015.

For more news from China, visit here.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs