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.