Chinese authorities may intervene to control surging energy costs by capping the price of thermal coal as a ban on imports from Australia and rising electricity demand during an unseasonably hot start to summer wreak havoc in the power market. The crisis could, however, pave the way for more electricity generation from gas-fired plants based in China’s southern Guangdong province, analysts say. Chinese authorities are discussing ways to control the cost of energy to consumers, including by cappi
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China-Australia relations: coal shipments continue but remain stuck off Chinese coast amid ban
Some Chinese buyers were guessing that ports might clear shipments of thermal coal to meet summer demand, but relations with Australia keep getting worse
Analysts say none of the coal-filled ships appeared to have been unloaded or cleared customs in China