China will start guaranteeing payments to coal-fired power plants based on their installed capacity as of January 2024
, as the world’s top coal consumer looks to ensure stability of electricity supply amid soaring renewable energy output. The National Development and Reform Commission NDRC, the state planner, said on Friday that thermal power plants in most of China would be able to recover about 30% of their capital costs in the next two years, Reuters reported. The guaranteed payments will be a tariff collected from industrial and commercial users that coal plants will receive by the grid operator.
Energy security and the need for stable power generation during peak demand to back the growing economy and supply stability precede concerns about emissions. China has already reached its goal to have more non-fossil fuel installed electricity capacity than fossil fuels earlier than planned, with 50.9% of its power capacity now coming from non-fossil fuel sources. Back in 2021, the Chinese authorities said they would target renewables to outpace fossil fuel-installed capacity by 2025.
China Coal-Fired Power Plants Electricity Supply Renewable Energy National Development And Reform Commission Thermal Power Plants
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