Pooh Bear loved honey, and so does the State Power Corporation, which owns all the China power transmission and distribution capacity and 60% of its generating capacity.
This means that the gencos generating companies of the SPC do not need to compete in supplying power to the grid transmission and distribution companies, and that independent producers - a number of which exist albeit under the control of provincial government - tend to be frozen out, even if they are better managed or cheaper than the SPC's chosen few.
Why is the SPC moving toward reform at all Well, one good reason is that the SPC is virtually bankrupt, partly though the imposition of tariff...
