On September 11, the price bureau of the Chinese province of Jiangsu increased electricity prices for several companies which have excessive levels of energy consumption. This is the third time since July this year that the Jiangsu authorities have punitively increased electricity prices for local companies, including steel companies, which use excessive amounts of energy.
The first punitive electricity price increase was implemented on July 12 affecting 17 local companies, with the second increase effective as of August 23 affecting 12 enterprises. The latest electricity price increase concerns seven companies in Jiangsu.