February 25, 2020 / 8:52 AM / a month ago

China to cut grid firms' ownership stakes in power trading exchanges

BEIJING, Feb 25 (Reuters) - China’s state planner asked power grid firms to reduce their ownership stakes in power trading exchanges across the country to below 50% by end-2020.

The move comes as the world’s biggest electricity consumer strives to liberalise its power sector by bringing capital from diversified investors and expanding its electricity market trading.

The National Development and Reform Commission said in a statement on Tuesday that ownership stakes in power trading exchanges, including the two regional bourse in Beijing and Guangzhou, should be reduced to below 80% by end of June. (Reporting by Muyu Xu and Shivani Singh, editing by Louise Heavens)

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