Energy
China may spend $1.7t on power infrastructure
Updated: 2010-12-22 15:41
(Agencies)
China may spend 11.1 trillion yuan ($1.7 trillion) in the next 10 years building electricity infrastructure, Bloomberg reported Wednesday, citing a 21st Century Business Herald report.
China may boost investment in power grids and electricity stations to 5.3 trillion yuan from 2011 to 2015, up 68 percent from spending in 2006 to 2010, the newspaper said, citing Wei Shaofeng, deputy director at the council. Investment may rise to 5.8 trillion yuan from 2016 to 2020, the report said.
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The government may need to raise electricity prices by an average 3.5 percent annually over the next 10 years to ensure power producers get an eight percent annual return on net assets, the report said.
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