December 03, 2008

Huadian Energy suffers losses in Q1

Reuters reported that Huadian Energy Co, a Chinese power producer, estimated that it suffered a loss in the first quarter of this year. In the first quarter of 2008, Huadian Energy posted a net profit of CNY 37.14 million.

Huadian Energy Co blamed increased coal prices, the fact that China's regulated electricity prices did not rise correspondingly and a drop in generating volume from the previous quarter.