November 5, 2012 — Chinese power grid companies invested more in distribution networks in the first nine months of 2012 despite electricity consumption growth almost stalling amid the economic slowdown.
Investment in power distribution networks in urban and rural areas amounted to about $18 billion from January to September, up 13 percent from a year ago, according to the China Electricity Council.
The money, which accounted for nearly half of all investment in power grid projects, aims to improve power supply capacity and boost the reliability of electricity distribution networks, the news agency reported CEC as saying.
About four-fifths of the investment, or $14.14 billion, came from the State Grid Corp., China’s largest power supplier. The Southern Grid and Inner Mongolia Electric Power Co. contributed to another $3.8 billion and $190 million of investment, respectively.