China National Coal to supply 180 mln T coal to 7 utilities in 2019-2023

10-December-2018

China National Coal Group will supply a total 180 million tonnes of thermal coal to seven power utilities in the next five years starting from 2019, state-owned Xinhua News reported on Tuesday.

That comes after the company signed five-year supply contracts with the country’s top six utilities last month, part of Beijing’s push to ensure coal supplies at stable prices.

Coal prices will be adjusted every month on the basis of 535 yuan ($78) a tonne, the company said.

The seven utilities include Guangdong Yuedean Group Co, Jiangsu Guoxin Group, Shenzhen Energy Group , Zhejiang Energy Group and Greenland Energy Group.

It said it will sign more mid- and long-term coal supply contracts with utilities soon.

Source: REUTERS