Reuters Tingshu Wang
China Macro Economy website reported that 3 provinces in northeastern China witnessed sudden power outages, amid reports of a shortage of stocks of energy carriers, led by coal to operate generating stations.
and .char the site “Thermal coal is so rare that (people) just struggle to keep the lights on, and some even fail to do so.”
“The total stock of coal used to generate electricity, which is held by the six major power generation groups in the country, is only 11.31 million tons, which is capable of meeting demand for a period not exceeding 15 days,” Cinelink Securities was quoted as saying.
“More than 20 out of 31 provinces in industrial provinces have implemented electricity rationing measures in recent weeks, which aroused widespread alarm among residents,” the website quoted Chinese local media as saying.
“Some traffic lights in Shenyang, the capital of Liaoning Province, suddenly stopped working last Thursday, causing severe traffic jams,” he noted.
“The power shortage has affected factories and manufacturers across the country, many of whom have had to reduce or stop production in recent weeks,” he added.
“The energy supply crisis, which has become critical in recent days, threatens the entire power grid, and has prompted analysts to cut China’s economic growth forecast for this year,” he noted.
Source: “China Macro Economy”
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