Thursday, March 07, 2013

China Boosts energy, emissions targets after record pollution

Thursday, March 07, 2013
The Government reduced the country's CO2 emissions and energy consumption China's top economic planner, said attempts, the national development and Reform Commission per unit of gross domestic product by at least 3.7 per cent in the year 2013 and emissions trading to wear today in a report. Carbon intensity fell 5.02 percent and energy consumption per unit of GDP slid by 3.6 percent last year against targets by 3.5 percent, said the NDRC in Beijing.
China's Cabinet, the State Council, estimated in August energy saving and emission reduction in the five years up to 2015 and the country's largest 2.37 trillion yuan ($380 billion) to spend, that oil companies produce for billion yuan in refinery of upgrades on clean fuel have announced. Official measurements of particulate matter in the air measuring less than 2.5 micrometres, that 993 micrograms per cubic meter in Beijing represent the greatest danger for the health rose to a record on 12 Jan. compared to guidelines of the World Health Organization (WHO) of no more than 25.

"The energy intensity and carbon intensity targets for this year will be met probably Charlie Cao, analyst at Bloomberg of new energy finance in Beijing," said today by phone. "The five-year targets are more difficult to achieve by 2015, especially if economic growth makes it easier in the following years."
The nation wants to reduce energy consumption CO2 intensity per unit of GDP by 16 per cent over the five years by 17 per cent by 2015.

Clean energy
China will expand also the electricity produced from renewable energy sources. Hydropower capacity will climb wind of 18 million and solar energy of 10 million, according to the report by 21 million kilowatts this year. Nuclear power rising 3.24 million kilowatts.

"We are increasingly to save energy and resources and to protect the environment," the NDRC said. "We will continue to reduce the discharge of major pollutants."
The Government will present the pricing mechanisms for oil and gas, reforms the report showed. The NDRC test gas-price programs in the provinces of Guangdong and Guangxi in South China started in December 2011 and said that it would be expanded nationwide after a review.

Rates, growth
Oil product pricing reform can be announced after the national people's Congress, Neil Beveridge, a senior research analyst with Bernstein in Hong Kong, Feb 25 said. China might be oil company fuel prices according to guideline rates posted by the Government, the official Xinhua News Agency reported March 28, citing Peng Sen, a former Vice President of the NDRC.

Current environmental concerns, a "tight" gas market with strong demand growth and the country always dependent of pipeline and liquefied natural gas imports point to an acceleration which can increase reforms this year and prices, said Scott Darling, analyst with Barclays PLC in Hong Kong, in a report 24 Jan.
China's goal of economic growth at 7.5 percent this year, according to Prime Minister Wen Jiabao's work report in Beijing today before his final inaugural speech to nearly 3,000 lawmakers at the annual meeting of the NPC be maintained. GDP expanded 7.9 percent in the fourth quarter compared with 7.4 per cent in the previous period, snapped a seven quarter slowdown, government figures showed Jan. 18.

Copyright 2013 Bloomberg
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