Ninety-five Percent of Coal Power Stations in China Facing Financial Loss

March 4, 2008 12:00 am Last Updated: March 4, 2008 12:00 am

An estimated 95 percent of coal power stations in China are facing financial loss, China Power Investment Corp President Lu Qizhou disclosed on March 3 in Beijing.

Lu made this estimation according to the company's latest annual report, according to a report by Hong Kong China News Agency.

Lu said that China's inflation is continuously growing, but electricity prices have not been adjusted according to the increasing coal price, therefore, power stations are under financial pressure.

Lu also mentioned that since the financial loss can be solved internally, the situation is not currently too serious.