Electricity prices in Guangdong, China, have nearly doubled due to natural gas supply constraints from the Middle East. The region, home to China's largest fleet of gas-fired power stations, saw spot rates rise to nearly 680 yuan per megawatt-hour, a

2026-04-23

Electricity prices in Guangdong, China, have nearly doubled due to natural gas supply constraints from the Middle East. The region, home to China's largest fleet of gas-fired power stations, saw spot rates rise to nearly 680 yuan per megawatt-hour, a three-year high. While industrial users secured lower rates through annual contracts, the spot market remains crucial for daily demand fluctuations. Tight gas supply, increased demand, and maintenance at coal plants are contributing to the price surge.