Southern Power Grid is expected to reduce the cost of electricity consumption by about 20 billion yuan for the whole year.

Published: Jul 28, 2020 14:24

SMM News: since the beginning of this year, the Southern Power Grid Company has resolutely implemented the policy of the CPC Central Committee and the State Council on supporting two-part electricity prices and reducing industrial and commercial electricity prices by 5%. As of June 30, it has reduced electricity costs for users in five southern provinces and regions by 9.2 billion yuan, benefiting 7.99 million enterprises, strongly supporting enterprises to resume production and promoting economic and social development.

Since the outbreak of the epidemic, the Southern Power Grid Company has continued to further promote the reform of the power system, expand the scale of market-oriented electric power transactions, and constantly improve the level of high-quality services. in the first half of the year, only 220.6 billion kilowatt-hours of electricity was traded in five provinces, an increase of 20 percent over the same period last year. The market-oriented proportion was 45.8%, the average price reduction was 0.066 yuan / kWh, and the cumulative dividend was 14.56 billion yuan. Let more users get "cheap electricity" through market competition to alleviate the pressure on the survival and development of enterprises.

Guangdong is not only a world-class manufacturing base, but also the largest economic province in China, which is greatly affected by this epidemic. The Southern Power Grid Company has carefully implemented the electricity price reduction policy in Guangdong to ensure that the electricity price dividend is transmitted to end users in a timely and full manner. From February to June, the Southern Power Grid Company reduced the cost of electricity consumption for Guangdong users by about 6.6 billion yuan, benefiting about 4.84 million users. In addition, the Southern Power Grid Company adheres to the measures of "non-stop supply in arrears" and exemption from liquidated damages, benefiting 3.9 million users and supporting the production and development of enterprises with the responsibility of central enterprises.

According to Zhang Wenfeng, general manager of the Planning and Finance Department (Operation Supervision Center) of the Southern Power Grid Company, in the next step, the Southern Power Grid Company will continue to resolutely implement the decisions and arrangements of the CPC Central Committee and the State Council and the requirements of the "Government work report"the policy of reducing industrial and commercial electricity prices by 5% will be extended to the end of this year." on the basis of the full implementation of the phased price reduction policy in the first half of the year, we will implement five measures to reduce electricity prices. It is expected that in the whole year, it will directly reduce the cost of electricity for general industrial and commercial and large industrial enterprises by about 20 billion yuan, effectively helping the production and development of enterprises.

Scan the code to apply to join the SMM industry communication group:

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[SMM Chromium Week Review] Chrome Ore Flows Rebound as China Port Stocks Build, Zimbabwe Eyes Ferrochrome Capacity
4 hours ago
[SMM Chromium Week Review] Chrome Ore Flows Rebound as China Port Stocks Build, Zimbabwe Eyes Ferrochrome Capacity
Read More
[SMM Chromium Week Review] Chrome Ore Flows Rebound as China Port Stocks Build, Zimbabwe Eyes Ferrochrome Capacity
[SMM Chromium Week Review] Chrome Ore Flows Rebound as China Port Stocks Build, Zimbabwe Eyes Ferrochrome Capacity
September 11, 2026.
4 hours ago
[SMM Chromium Flash] Tharisa's Underground Transition at Its Chrome-PGM Flagship Mine Remains on Track
4 hours ago
[SMM Chromium Flash] Tharisa's Underground Transition at Its Chrome-PGM Flagship Mine Remains on Track
Read More
[SMM Chromium Flash] Tharisa's Underground Transition at Its Chrome-PGM Flagship Mine Remains on Track
[SMM Chromium Flash] Tharisa's Underground Transition at Its Chrome-PGM Flagship Mine Remains on Track
Tharisa confirmed its transition to underground mining at its flagship Tharisa Mine, on the southwestern limb of South Africa's Bushveld Complex, remains on time and within budget, running in parallel with the Karo Platinum Project's construction financing in Zimbabwe. Development of the Apollo underground complex, which commenced in March 2026, is progressing toward first run-of-mine ore in the current quarter, with steady-state production of 255,000 mt per month targeted by the third quarter of calendar year 2029. The Orion complex is expected to follow, targeting first ore in financial year 2031 and steady-state production by the third quarter of calendar year 2033. Together, Tharisa said the two underground complexes are expected to extend mining at the Tharisa Mine, which co-produces chrome concentrate alongside PGMs from the same orebody, for more than 60 years beyond depletion of the current open pit. The underground project is fully funded through development loans from Absa and Standard Bank and an asset-based revolving facility from Nedbank, funding that sits separately from the US$300 million Nordic bond raised this week for Karo. The company did not break out what share of Apollo or Orion's future run-of-mine ore output will be chrome-bearing material versus PGM-bearing material, leaving the underground transition's specific impact on Tharisa's chrome concentrate volumes still to be clarified as the two complexes ramp up toward steady state.
4 hours ago
[SMM Chromium Flash] Tharisa: Chrome Cash Flow Continues to Fund PGM Growth as Spot Chrome Price Hits $290/mt
5 hours ago
[SMM Chromium Flash] Tharisa: Chrome Cash Flow Continues to Fund PGM Growth as Spot Chrome Price Hits $290/mt
Read More
[SMM Chromium Flash] Tharisa: Chrome Cash Flow Continues to Fund PGM Growth as Spot Chrome Price Hits $290/mt
[SMM Chromium Flash] Tharisa: Chrome Cash Flow Continues to Fund PGM Growth as Spot Chrome Price Hits $290/mt
Tharisa said its co-mining model, in which chrome cash flow supports PGM development through the commodity cycle, continues to underpin its growth strategy, with spot chrome prices trading at US$290 per mt as of early September 2026. The company disclosed the figure alongside news that it had secured a Special Mining Lease Agreement with the Government of Zimbabwe, a long-term PGM offtake agreement with Valterra, and priced a US$300 million, five-year senior secured Nordic bond, three milestones the company says de-risk and fully fund construction of its Karo Platinum Project on Zimbabwe's Great Dyke. CEO Phoevos Pouroulis said the completed milestones mark a transformative moment for Tharisa, describing the group as evolving into a multi-asset, multi-jurisdictional PGM and chrome producer with a combined mine life exceeding 60 years once Karo and the Tharisa Mine's underground transition are both in production. While the financing package itself is structured around PGM development, chrome remains the funding backbone of the strategy: Tharisa's disclosure frames chrome revenue as the through-cycle cash generator that allows the group to pursue capital-intensive PGM growth projects such as Karo without relying solely on external financing, a dynamic reaffirmed rather than changed by this week's bond pricing.
5 hours ago