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Guangdong Spot Power Prices Double as LNG Slumps, Nuclear Starts

4/23/2026

24 3 Full Breakdown

Summary

Story summary

Spot electricity rates in Guangdong hit nearly 680 yuan per megawatt-hour on April 14, about double the 350 yuan level in March, while 80% of industrial electricity remains locked in lower-price contracts.
LNG deliveries fell nearly 40% year-on-year, pushing gas prices over 60% above renewables and limiting gas to about 22% of capacity.
A nuclear reactor began operating on April 20 as electricity use rose 7.6% in Q1 to meet summer demand.

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Story summary

Spot electricity rates in Guangdong hit nearly 680 yuan per megawatt-hour on April 14, about double the 350 yuan level in March, while 80% of industrial electricity remains locked in lower-price contracts.
LNG deliveries fell nearly 40% year-on-year, pushing gas prices over 60% above renewables and limiting gas to about 22% of capacity.
A nuclear reactor began operating on April 20 as electricity use rose 7.6% in Q1 to meet summer demand.