State Grid Denies Charges of Squeezing Profits at Power Plants
Published:
2011-05-20
Shu Yinbiao, deputy director of the State Grid Cooperation of China, said at a conference yesterday that the current power shortages are mainly due to the gap between supply and demand, denying suggestions that State Grid may have earned excessive profits by charging energy producers too much in transmission fees. According to Shu, the company's profits of 40 billion yuan in 2010, were not that much for a company with over 2.1 trillion yuan in assets. Shu also argued that the company's profit margins are very low when compared with other power grid companies around the world or other state-owned enterprises operating in China.
Source
Beijing Times
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