China Resources Power Raises Level Up Prices

China Resources Power Holdings Co. raised electricity prices an average 7 percent in Jiangsu, Guangdong and Henan provinces, the Hong Kong Economic Journal reported, citing Chief Financial Officer Wang Xiaobin.

The Chinese generator increased prices temporarily to ensure continuous electricity supply during summer, when demand peaks, and as it faces rising coal cost pressures, the newspaper said, citing Chief Executive Officer Wang Shuaiting.

China Resources Power may raise prices again after next month's Beijing Olympic Games, CEO Wang was cited as saying by the Chinese-language newspaper.

The company is the third-largest Hong Kong-listed Chinese generator by market value.