Energy Insider: Henan Halts 20 Million Tons of Mining Capacity for Safety Fixes; Guangdong Power Retailers Suffer Huge Losses

Published: Jun. 17, 2021 7:31 a.m. GMT+8

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In the first five months, total power consumption in China reached 3.2 trillion kilowatt-hours, an increase of 17.7% from the same period last year

In today’s Caixin energy news wrap: Shenzhen to set up carbon emissions fund to manage revenue from carbon trading; Baoneng’s NEV unit receives $1.9 billion investment; Sinochem and ChemChina consolidation advances; and power retailers in Guangdong suffer huge losses amid surging demand.

Henan shuts 20 million tons of coal mining for safety fixes

Several mining sites with combined capacity of nearly 20 million tons in central China’s Henan province halted production for safety fixes amid tightening oversight. Zhengzhou Coal & Electric Co. Ltd. (600121.SH) Tuesday announced the suspension of six sites on regulatory orders, affecting 8.25 million tons of capacity. Henan Dayou Energy Co. Ltd. closed seven sites with capacity of 11.4 million tons on the same day. Neither of the companies provided a schedule for resuming production. Since May, Henan has reported three fatal mining disasters leading to 15 deaths. The mine closures are expected to put additional pressure on tight coal supply during peak summer power demand.