Power markets: Focus on China

Great expectations

China electricity wires

As the world's second largest energy consumer, the mis-match between China's rapidly advancing economy and the slow development of its centrally controlled electricity trading market is something of a paradox. Despite generating 2,718 billion kilowatt hours (kWh) of electricity in 2006, in the same year, only 6 billion kWh were traded, according to research from UK energy research consultancy Wood Mackenzie. In terms of electricity trade, China is vastly overshadowed by more developed European p