China to Reform Pricing Of Natural Gas, Household Power This Year
China's central government aims to further reform pricing of natural gas and household electricity this year, as part of its efforts to save energy and cut emissions, the State Council said Wednesday. China will adjust the natural gas pricing mechanism, push forward tiered pricing for household electricity, and introduce feed-in tariffs for coal-bed methane and natural gas, the council, which acts as the country's cabinet, said in a statement on its official website.
The council reiterated that this year is a decisive one as only eight months are left to realize its goal of cutting energy intensity by 20% in the five-year period from 2006-2010. Energy intensity, a measure of carbon emissions per unit of gross domestic product, has so far fallen only 14.38% in the period.
The target for reduction of energy intensity by 2020 is 40%-45%, but as the domestic economy has been recovering, energy demand has also been picking up. Energy intensity falls when GDP rises faster than energy consumption.