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Provided by Dow Jones By Clarence Leong Huaneng Power International Inc. s first-half net profit declined 26% from a year earlier to 4.02 billion yuan ($617.4 million), as higher coal prices reduced earnings from its power-generation business. Operating revenue of CNY95.12 billion was up 20% due to a surge in domestic demand, but was outpaced by a 29% increase in operating expenses that reflected the higher fuel costs, Huaneng Power said Tuesday. For the rest of the year, the company expects power generation and consumption to maintain rapid growth even as the Chinese economy s strong rebound from the pandemic moderates. China s launch of a national carbon market earlier this month covers 72 thermal-power plants run by Huaneng, which said it will ramp up efforts in energy saving and carbon reduction.

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