Power reform to cut costs

Source: Xinhua | 2017-07-27

CHINA will cut 118 billion yuan (US$17.5 billion) from the cost of transmitting and distributing electricity by removing irrelevant assets and expenditures, the National Development and Reform Commission said yesterday.

Around 14.5 percent of the expenditures are “unreasonable or irrelevant to power distribution ... equaling 118 billion yuan,” said Zhang Manying, a NDRC spokesman.

As well as the reduction, China’s electricity reform also aimed to create a more transparent pricing system.