China To Compensate Coal Plants As It Seeks Power Supply Stability

China will start guaranteeing payments to coal-fired power plants based on their installed capacity as of January 2024, as the world’s top coal consumer looks to ensure stability of electricity supply amid soaring renewable energy output. The National Development and Reform Commission (NDRC), the state planner, said on Friday that thermal power plants in most of China would be able to recover about 30% of their capital costs in the next two years, Reuters reported. The guaranteed payments will be a tariff collected from industrial and…