A photovoltaic power station in Suichuan, Jiangxi province, on March 9. Photo: VCG Recent surges in Guangdong province’s electricity spot prices are exposing how China’s accelerated shift toward a market-driven power sector subjects industrial users to unprecedented volatility. On April 11, the average real-time price for power generators in Guangdong’s spot market hit 0.98 yuan (14 U.S. cents) pe...
A photovoltaic power station in Suichuan, Jiangxi province, on March 9. Photo: VCG Recent surges in Guangdong province’s electricity spot prices are exposing how China’s accelerated shift toward a market-driven power sector subjects industrial users to unprecedented volatility. On April 11, the average real-time price for power generators in Guangdong’s spot market hit 0.98 yuan (14 U.S. cents) per kilowatt-hour, more than 160% higher than the average contract price for the month of 0.37 yuan. Prices remained elevated through Saturday, staying above 0.6 yuan per kilowatt-hour. The surge was driven by a 20% jump in liquefied natural gas prices following Middle East conflicts, compounded by robust export-driven electricity demand in the province.