In June, multiple provinces in China experienced a dramatic drop in electricity prices. In Jiangsu, a major economic province, the average electricity trading contract price fell by 24%, while in Guangdong, it dropped by 8.3%. The situation in the electricity spot market was even worse, with real-time trading prices in Shandong, Zhejiang, and Inner Mongolia all showing “negative electricity prices.” From January to May, the clearing price in the Inner Mongolia spot market plummeted by 52%.
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