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Coal Prices Push Huaneng Power Profit Down 75%
Mar. 30, 2011 06:55AM PST
Industrial Metals Investing
Reuters Africa reported that high coal prices have pushed down profits for Huaneng Power (HK:0902).
Reuters Africa reported that high coal prices have pushed down profits for Huaneng Power (HK:0902).
The market news is quoted as saying:
Like other listed Chinese power producers, Huaneng’s outlook is blighted by its inability to pass on to customers soaring coal prices, which account for about 70-80 percent of production costs, because tariffs are set by the state.