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Electricity supply to be balanced in 2007
(Xinhua)
Updated: 2005-08-09 07:19
China is expected to see a balance of electricity supply and demand with
somewhat of a surplus, said a senior official with China Electricity Council
(CEC) Monday.
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| The transformers are seen in this picture taken in Shanghai on
August 2, 2005. [newsphoto] | Wang Yonggan, Secretary-General of CEC, made the remarks at a press
conference for the "2005 China Power Forum" which is due to be held from
Wednesday to Thursday.
According to Wang, China saw a newly installed power capacity of over 50
million kilowatts in 2004, and the figure will remain at 70 million kw annually
from 2005 to 2007.
By the end of 2007, China will boast an installed power capacity of 650
million kw, by which time the electricity supply and demand of the country will
be basically balanced, and will even have some surpluses, said Wang.
China is the second largest installed power capacity owner and the second
largest power generator in the world next to the U.S., said Wang.
An annual installed power capacity of 70 million kw means an annual
investment of nearly 350 billion yuan (43.2 billion US dollars). China has
become one of the largest power markets in the world, he said.
However, the rapid development of China's electricity
industry has also created problems such as over-investment, high consumption,
pollution and inefficiency as well as various infrastructural problems, said
Wang.
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