China Regional Power Rationing Calls For Power Reform-Yicai

The recent power rationing observed in several provinces in Southwest China, owing to the well-documented heatwaves, reveals an urgency to promote the market-based reform of the country’s power system, said Yicai.com in an editorial. Provinces such as Sichuan are facing peak load demand, while high temperatures resulting in 40% lower rainfall levels have more than halved hydropower generation capacity, the newspaper said. China should build a power grid that conforms to the future power structure and adapts to the volatility of new energy sources such as wind and solar, the newspaper said. Furthermore, the country aims to add more than six times the level of current new energy capacity to achieve carbon neutrality, the newspaper noted.