China Guarantees Payments to Coal Power Producers Based on Capacity by 2023
Feb 18,2024 | DAXTROMNSOLAR
China has recently announced that it will guarantee payments to its coal-fired power producers based on their capacity starting from 2023. This move aims to ensure stable returns for these power plants, which have faced financial challenges due to a gradual shift towards cleaner and renewable energy sources.
According to the National Development and Reform Commission (NDRC), this new policy will provide long-term assurances for coal-fired power plants by fixing their revenues based on their generating capacity. The government will establish a unified mechanism to distribute the payments, ensuring that the coal power producers receive their share.
This policy adjustment reflects China's ongoing efforts to address the challenges faced by its coal industry. With growing concerns about air pollution and climate change, the Chinese government has been promoting a transition to cleaner energy sources such as natural gas and renewables. This has resulted in a decrease in coal consumption, causing financial strains on coal power producers.
China's decision to guarantee payments to coal power producers based on capacity is a strategic move to support the transition to a greener and more sustainable energy sector. By providing stable returns, the government aims to ensure the financial viability of these power plants during this transitional period.
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Overall, China's guarantee of payments to coal power producers aligns with the country's commitment to transitioning towards cleaner energy sources. It signifies a step towards a greener future while ensuring the economic stability of the coal industry during the transition period. With the Daxtromn Power 2XMPPT inverter, homeowners can take advantage of solar energy and effectively manage their power supply, contributing to a more sustainable and environmentally friendly lifestyle.
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