Since September 2021, power outages have stricken some regions across the nation including Beijing, halting factory production and affecting home use. As of late September, more than 20 listed companies announced in filings to stock exchanges that power curbs had affected production. The power shortages are caused by a combination of factors, including coal shortages, instability of renewable energy, increased electricity demands amid the economic recovery, and the stringent emissions requirements of the “dual carbon” targets. A slew of measures was launched to guarantee household power supply and keep factories operating amid calls for a better electricity pricing mechanism. Analysts urged authorities to reform the energy sector to better reflect power costs, set flexible electricity rates and further diversify China’s coal-reliant energy structure.
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