Shandong province, the fourth-largest crude steel production base in China, will increase electricity tariffs for steel makers that fail to meet ultra-low emission standards from July 1 onwards, in a move to push low-carbon transition.
The electricity prices will be increased by 0.01-0.06 yuan/KWh from July 1, 2022 to December 31, 2026 for steel firms that fail to meet the ultra-low emission standards, according to a notice issued by the provincial development and reform commission.
Shandong produced 16.74 million tonnes of crude steel during the first quarter of this year, ranking fourth after Hebei, Jiangsu and Liaoning.
In February this year, China has scrapped its ambitious goal for the steel industry, the country's second-largest carbon emitter, to reach maximum carbon emissions by 2025, pushing the deadline back five years to 2030.
(Writing by Emma Yang Editing by Tammy Yang)
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