What the hell is happening?
I understand a coordinated anti-terrorism announcement on Bitcoin is imminent.
I'm guessing Chinese mining farms are folding liquidating everything in a fire sale
STrange but probably true:
It is impossible to know exactly how many different electricity rates exist in mainland China, according to a report that says neither government officials who supervise power companies nor even the people who work there have a firm answer.
Government data from 2010 showed that the average on-grid price for power generating companies had touched 0.38 yuan (US$0.062) per kWh, Shanghai's First Financial Daily reports.
In terms of the transmission and electricity distribution rates, the fare charged by the State Grid for 2010 stood at 0.16 yuan (US$0.026) per kWh, while China Southern Power Grid had fixed its rate at 0.2 yuan (US$0.032) per kWh.
The average user-end rate reached 0.58 yuan (US$0.094) during the same year, and the user-end fees were categorized into the price of electricity for residential use, which stood at 0.47 yuan (US$0.079) per kWh and for commercial use at 0.81 yuan (US$0.13).
The tariff for non-residential use was pegged at 0.74 yuan (US$0.12), for non-industrial use at 0.77 yuan (US$0.12), for major industrial use at 0.61 yuan (US$0.1), for agricultural use at 0.43 yuan (US$0.07), and for farmers in poor areas at 0.19 yuan (US$0.03), the report said.
An official at the National Energy Administration said that the reality of the situation was much more complicated, however. The official told reporters that there may be more than 1,000 different fees in existence in different parts of the country.
Using Beijing as an example, the newspaper pointed out that there were 314 different fee schedules in the capital. It attributed the phenomenon to the market monopoly of power companies that permits them to decide both transmission and distribution prices.
Under that monopoly, companies are able to generate higher profits from different rates, the newspaper said.
The opacity regarding costs was also a major factor leading to the formation of this myriad of electricity rates, it added.
Poll
