BEIJING :China will double down on power system reforms and shift its focus to reducing carbon emissions, a Communist Party policymaking body said late on Tuesday, without giving further details.The party's commission for deepening reform, an agency responsible for accelerating priority reforms for the leader
BEIJING :China will double down on power system reforms and shift its focus to reducing carbon emissions, a Communist Party policymaking body said late on Tuesday, without giving further details.
China has previously launched several rounds of power sector reforms to improve efficiency, lower electricity prices, and rationalize coal power investment, with the aim of reducing costs for end users that weigh on economic activity. However challenges remain, including provincial government protectionism and a lack of inter-provincial coordination, as well as other regulatory hurdles. Fixed, long-term power trading agreements also limit flexibility in the system.
China must also gradually shift its focus from controlling energy consumption to controlling its carbon emissions, the commission said.China has set targets to cut carbon dioxide intensity by 18 per cent between 2021 and 2025, and energy intensity by 13.5 per cent in the same period. However it has not set any targets on carbon dioxide emissions.
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