Southwest China's Guangxi power retailers seek settlement relief as coal costs surge

Nine electricity retailers owned by China's central state-owned enterprises have asked the government of Southwest China's Guangxi Zhuang Autonomous Region to suspend September settlements, warning that the sector could suffer losses exceeding Yuan 5 billion ($747.1 million) this year as higher coal and gas costs cannot be passed on to customers.

In a joint request dated September 30, the companies estimated their January-August losses at more than Yuan 2 billion and expected a further Yuan 1 billion loss in September alone. The signatories include Guangxi subsidiaries of major power groups such as China Energy Investment Corporation, China Resources Power, China