CHINA will tell coal miners to maintain normal output during the Lunar New Year holiday after a production boost that began in late 2021 lifted thermal coal stocks to record levels, an official said yesterday. The government was also pushing to expedite the approval and construction of cross-region electricity grids to optimize the power system after a supply crunch last year led to widespread power rationing and record coal prices. China’s power consumption is expected to continue its rapid growth this year after a robust 10.3 percent expansion in 2021, said Li Yunqing, an official with the National Development and Reform Commission (NDRC). Meantime, China will also boost new energy generation capacity, as well as encourage firms to maximize oil and gas production during the holidays. The Lunar New Year break kicks off Jan. 31 and lasts through Feb. 6. Thermal coal inventory at key power plants last stood at a seasonal record of 166 million tons as of Jan. 16, sufficient to cover 21 days’ use, said Li, an official with the NDRC’s economic operation department. That was partly due to enhanced logistics after a 20 percent jump in rail freight dedicated to transporting coal in the fourth quarter versus a year ago, while turnovers at top coal ports hit new highs. China’s thermal coal prices have stabilized near 700 yuan (US$110) per ton since November, after government orders to boost production led to prices more than halving from record levels hit in October. (SD-Agencies) | 