Guangdong Faces Power Price Surge Amid Gas Supply Crunch and Market Reforms

6 articles · Updated · Caixin Global · Apr 23

Electricity spot prices in Guangdong, China, have surged to record highs due to tightened natural gas supplies linked to Middle East conflicts.
Spot prices reached nearly 680 yuan per megawatt-hour, more than 160% above contract rates, as LNG shipments fell and demand increased.
China’s market-driven power reforms expose businesses to volatile costs, with regional disparities and reliance on coal and renewables intensifying price swings.

Is Guangdong sacrificing green goals for grid stability by relying on coal and nuclear?

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The Iran war has choked off gas supplies. Is China's energy security strategy failing?

With old models obsolete, can energy storage firms profit from grid volatility?