Household electricity prices in China 2020-2024
Household electricity prices in China amounted to 7.8 U.S. dollar cents per kilowatt-hour in March 2024. Residential electricity prices increased steadily in the country from September 2020 to September 2021, when it reached 9.3 U.S. dollar cents per kilowatt-hour, and decreased to less than eight U.S. dollar cents per kilowatt-hour in the following months.
Growing demand for affordable electricity
Through China’s decades of industrialization, increasing power demand has been a constant factor, and policymakers and utility companies have had to balance it with affordability for a population with a relatively low per capita income. Keeping residential electricity prices at a low level is vital, given that many depend on air conditioning in China’s harsh summer months. However, with China’s ongoing electrification of private and public transportation, the demand for electricity will only increase.
From black coal to sustainable green
The history of the electricity industry is one of constant change and adaptation. Despite its size, China is not rich in energy resources. With coal being the only available fuel, it has supplied electricity to 1.4 billion people and an economy that has undergone incredible growth in the past four decades. However, the reliance on coal has left behind a black legacy of high carbon emissions and severe air pollution. With the highest investments in renewables worldwide, China attempts to transform its energy industry into a sustainable future.
