China NDRC to Check Power Generators for Illegal Price Discounts

China’s economic planning agency said it will carry out checks on power generators and local governments to make sure they are abiding by new rules banning the sale of electricity at discounts to high-consumption companies.

Earnings from such discounts will be confiscated and suppliers will be fined up to five times the value of the income they received from the illegal sales, the National Development and Reform Commission said on its website today.

The checks will be carried out by six government agencies including the Ministry of Industry and Information Technology and the National Energy Bureau, according to the statement.

http://www.businessweek.com/news/2010-05-21/china-ndrc-to-check-power-generators-for-illegal-price-discounts.html