NEA: effect of de-capacity, supply guarantee and prices stability is outstanding

National Energy Administration held a press conference in Beijing on October 30, presenting the energy condition and grid-connected operation of renewable energy sources in the first three quarters of 2018.
The director of Development Planning Division of NEA—Li Fulong expressed that the effect of de-capacity, supply guarantee and prices stability of coal is outstanding. In the first eight months, 100 million tons of excess coal capacity was resolved accumulatively and 67% of the annual task was completed. Superior coal capacity was released rapidly, and newly-built mine capacity replacement programs were 60 with the scale of 330 million tons accumulatively. Coal mines under construction undertook 73 tasks of dissolving overcapacity with the scale of 410 million tons. 17 qualified coal mines with the scale of 60 million tons were approved. Coal supply and prices were overall stable.
Coal consumption sustained recovery. In the first three quarters, the increasing rate of national coal consumption was rebounded because of the increasing thermal coal consumption. According to the preliminary statistics of the industry, the coal usage of electricity, steel, chemical industry and building materials was raised. Thermal coal consumption accounts for 53.9% of the total coal consumption, increasing by 2.3 percentage points.