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CHINA - Coal and power: The situation gets worse

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  • P. Neuman self only
    CHINA Coal and power: The situation gets worse http://www.asianews.it/view.php?l=en&art=1094 Shanghai (AsiaNews/SCMP) - Coal and power stocks in China have
    Message 1 of 1 , Jul 5, 2004
      Coal and power: The situation gets worse


      Shanghai (AsiaNews/SCMP) - Coal and power stocks in China have fallen to
      their lowest level in 20 years. The catastrophic forecasts on effects of
      an overheated economy are coming true showing how much more the
      government has to do to cool down.

      The National Information Centre said that, at the end of April, coal
      stocks had fallen to 98 million tonnes, down from 103.5 million at the
      end of February and the lowest level in nearly 20 years.

      Most critical are coal stocks at power stations, which on May 7 fell to
      7.71 million tonnes, enough for just 7.41 days of operations. In the
      first five months of the year; despite national output of electricity was
      817.6 billion watts, up 16.1 per cent from the same period last year it
      is not enough to keep pace with demand.

      As a result, shortages that began in 2002 have worsened. The number of
      provinces and regions hit by shortages rose from 11 in 2002 to 21 last
      year and 24 in the first half of this year. The shortfall this summer is
      likely to reach 30 million kilowatts, triple that of last year.

      The Shanghai Electricity Company reported that demand last Friday was of
      13.66 million kW, against a maximum capacity of 10.63 million kW. This
      record because of high temperatures and strong demand for air

      The government has ordered 500 major industrial consumers to operate at
      night, which is freeing 240,000 kW during daytime hours, and other
      companies to adjust their production schedules, which is freeing 560,000

      The National Information Centre blamed the shortages on a surge in
      consumption of more than 20 per cent by big users such as the steel,
      cement and construction materials industries, an inadequate transmission
      network and low coal prices.

      Meanwhile, Oil imports continued to soar. In the first four months,
      imports of crude products and oil products rose 33.3 per cent to 40.14
      million tonnes and oil products by 65.1 per cent to 12.68 million tonnes.

      Stocks of many industrial goods continued to increase because of power
      shortages. At the end of March, stocks of steel products at the 66
      largest manufacturers were 43 per cent higher than at the end of
      December. Vehicle stocks at 13 major state producers at the end of April
      were worth 14.2 billion yuan, an increase of 28 per cent over a year


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