Jiangxi province to impose higher charges on energy-guzzlers

The local government of China's Jiangxi province will be charging higher electricity prices on energy guzzlers, amid a national drive for energy-saving and energy efficiency.

Jiangxi will raise power prices by 0.1 yuan per kilowatt hour, or more than 10 percent, from Wednesday for the first batch of 40 small steel and cement makers, a local government official said.

Power consumption by the 40 firms accounts for about 3 percent of Jiangxi's total, according to the official.

"We have been struggling to make ends meet these days, and we may have to shut down operations because the additional charge will add more than 100 yuan of cost for each tonne of our products," said an executive with a steel maker that has been included in the first batch.

The full story is available at Reuters.