Chinese Authorities Hike Electricity Prices to Confront Energy Challenges

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And this year's record-setting drought is also affecting business and industry throughout China. It's making hydroelectric power more scarce.

Now authorities have raised China's electricity prices. The higher prices will affect most regions in China. But they will directly affect only industry, not residential consumers.

The hydro-power problem comes as rising coal and oil prices have already driven up energy production costs. Over-strong demand has also led to electricity shortages and blackouts in many parts of the country.