Energy producer to earn $94m extra

Permanent tariffs fixed at three newly commissioned units of independent power producer Shandong International Power Development are expected to bring in extra revenues of 100 million yuan (about HK$94 million) annually.

The firm yesterday said the government had approved an on-grid tariff of 320 yuan per megawatt hour, after value-added tax, at the second and third 300-megawatt units of its Laicheng plant and the first 135-megawatt unit of its Shandong Zhangqiu plant.

The new tariff took effect last month.