China’s power woes look set to intensify as coal prices rose to a record on Monday following data showing supply of the fuel fell in September adding to concerns that domestic output may be unable to meet surging electric generation demand.
Shortages of domestic coal have driven fuel prices for Chinese power generators higher, causing the unprofitable companies to ration power to industrial users. That has forced some factories in the world’s largest economy to suspend production, disrupting global supply chains.
China, also the world’s biggest energy consumer, has enacted measures to increase the output of coal, which fuels nearly 60 per cent of its power plants,
