Chinese coal company China Coal Energy Company Limited (China Coal Energy) has signed a five-year strategic cooperation agreement on demand and supply with seven power generation enterprises, namely, Zhejiang Energy Group, Guangdong Yudean Group, Jiangsu Guoxin Investment Group, Jiangsu-based Ligang Power Generation, Hubei-based Ezhou Power Generation, Guangdong-based Shenzhen Energy Corporation and Shanghai-based Greenland Energy.
According to the agreement, China Coal Energy will supply 180 million mt of coal to the seven enterprises in question during the 2019-23 period, with the prices of coal to be adjusted monthly on the basis of the long-agreement price of RMB 535/mt ($77.1/mt). Market analysts stated that the long-term agreement signed by China Coal Energy will play a positive role in promoting the healthy development and the smooth operation of the coal market.